10 11 webinar e procurement 1 3 buying made easy_final
TRANSCRIPT
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Buying made easy – A webinar series from OpusCapita5 ways data analytics adds value to Procurement
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Agenda
• Introductions• 5 Impacts of Analytics
• Risk mitigation
• Contract compliance• Process metrics• Payment programs• Cash flow forecasting
• Closing remarks
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Rowan Lemley (host)
Our panel of experts
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Kati MyllyniemiManaging Consultant
Martin CasserdahlHead of Consulting & Training
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5 ways data analytics adds value to Procurement
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Webinar Poll
– Risk mitigation within the supply chain.– Early payment programs for discount capture.– Reduction or elimination of maverick spend.– Improving supplier contract compliance.– Understanding cashflow requirements and improving forecasting.
Question: In 2017 our priorities for spend analysis will focus on:
Laura: can we allow the user to pick only 3?
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Risk mitigation
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Manage risk
• To ensure you identify and manage the different risks impacting your Company
Why do this?
• Spend Categories
• Spend Analyses based on invoice data
How to start? • Control of Supply risk
• Control of Supplier risk
• Opportunity for Supplier consolidation
What is the value?
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Contract compliance
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Contract compliance
• Companies lose nearly 3-5% of savings opportunities because of auto-renewing contracts
Why do this?
• See the following slide
How to start? • Best-in-class
organizations achieve up to 80% more savings than others through a clearly defined contract compliance process
What is the value?
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Category plans
Identified saving opportunities
How to achieve contract compliance
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Strategic Sourcing
Contract negotiations
Transition plan
Savings follow-up
Ensure new contract utilization
Supplier Relationship Management
Procurement
Monitoring & KPI’s
Catalog based purchasing
Feedback to Category management
Tangible proof of promised savings
Legal and regulatory compliance issues
Ethics and sustainability
Suppliers integral part of business model Value add form partners
Maverick buying
Purchase made easy
Process measurement & KPI’s Contract benefits
DataAnalytics
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Process metrics
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Process metrics
• Understand your processes better
• Define a path for improvement
• Define success
Why do this?
• Define and refine your key process metrics
• Establish a method for tracking them
• Look to benchmark where possible
How to start? • Promote ongoing
supplier compliance• Identify areas for
improvement• Goals become clear
What is the value?
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Payment programs
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Payment programs
• Reduce purchase prices
• Better use of cash on-hand
• Improve liquidity for suppliers
Why do this?
• Define and refine your key process metrics
• Establish a method for tracking them
• Look to benchmark where possible
How to start? • Promote ongoing
supplier compliance• Identify areas for
improvement• Goals become clear
What is the value?
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Cash forecasting
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Cash forecasting
• Utilize data to forecast cash needs
• Prepare for what is coming
Why do this?
• Analyze data based on spend
• Number of transactions
• Payment terms
How to start? • Utilize cash in an
optimal way• Control your
payment terms
What is the value?
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Closing Remarks
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Closing Remarks
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Kati MyllyniemiManaging Consultant
Martin CasserdahlHead of Consulting & Training
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Thank YouSee you at the next ‘Buying made easy’ – webinar on eProcurementTopic: 5 ways BiC organizations optimize their purchasing processes (December 8)
Rowan Lemley