Based on insights from the research report Procurement Analytics: Enabling the Journey to Value and also from the IBM IBV Chief Procurement Officer Study.

CPOs say that Analytics is critical for procurement success

Without good data and the right interpretation of that data, important business decisions often rely on guesswork. That’s no way to make critical decisions

By asking the right questions and applying analytics, CPOs can eliminate the guesswork and better understand and engage with suppliers and internal stakeholders

CPOs say that Analytics is critical for procurement success

Without good data and the right interpretation of that data, important business decisions often rely on guesswork. That’s no way to make critical decisions

By asking the right questions and applying analytics, CPOs can eliminate the guesswork and better understand and engage with suppliers and internal stakeholders

By focusing on total cost, not just price

Through adopting innovative spend analytics to discover hidden opportunities

By establishing cross-business metrics to drive supplier cost innovation

1. How can procurement drive cost savings in a new way?

By establishing best-in-class contract and supplier management processes

Through creating a holistic risk management program embedded in the source-to-pay process

By adopting an intell igent system that can identify risks early and help prioritize them

2. How can we reduce supply risk and manage supplier compliance?

By establishing best-in-class contract and supplier management processes

Through creating a holistic risk management program embedded in the source-to-pay process

By adopting an intell igent system that can identify risks early and help prioritize them

2. How can we reduce supply risk and manage supplier compliance? That’s important because risk

is increasing and evolving…

The modern de�nition of risk extends beyond traditional supplier issues and includes protecting brand value, ensuring data security and privacy, and upholding corporate social responsibility values

Analytics is extremely powerful in revealing correlations to identify potential risks

Along with forecasting, procurement needs real-time visibil ity into supply chain events

By enabling the full power of strategic supplier relationships

Through investing in systems that enable end-to-end and global visibil ity

By building an analytical platform to enable data-driven decisions and projections

3. How can we leverage the best procurement technologies to maximize our value to the enterprise?

By enabling the full power of strategic supplier relationships

Through investing in systems that enable end-to-end and global visibil ity

By building an analytical platform to enable data-driven decisions and projections

3. How can we leverage the best procurement technologies to maximize our value to the enterprise?

4. How can we develop procurement talent to meet the needs of our organization?

By recruiting and retaining talent that: Focuses on enterprise value

Can engage with both business stakeholders and suppliers

Embraces new technologies

People are not our greatest asset, people are our ONLY asset.

-Howard Richman Head of Indirect Procurement,

Citrix Systems

5. How can Procurement increase its influence and get a seat at the table?

By making and keeping itself relevant to the business

Through contributing to annual budgeting in a meaningful way

By speaking the language of analytics that matters to business stakeholders

So what are you doing for your business?

Today’s CPO has to connect the dots…

From strategy…... to building credibility…

To team building and retention… to translating big data analytics into actionable value…

particularly in forecasting and mitigating risk

From strategy…... to building credibility…

6. What are other CPOs doing?

Successful CPOs are improving collaboration and building analytical insight through

Innovative Data Leveraging,a fact-based, data-driven approach to

building relationships with stakeholders and powering procurement transformations.

To learn more about savings, risk mitigation, and innovation,

Download the CPO Study ebook

To delve into innovation,

Download the Procurement’s New Chapter: Innovation ebook

So what are you doing for your business?

Today’s CPO has to connect the dots…

From strategy…... to building credibility…

To team building and retention… to translating big data analytics into actionable value…

particularly in forecasting and mitigating risk

From strategy…... to building credibility…