bpo future forward: 6 ways to drive procurement effectiveness
DESCRIPTION
Keeping costs low through category and demand management, process improvement and supply chain optimization – these have always been a procurement mandate. But today, the function’s scope has expanded to include new deliverables – enhance the revenue side of the P&L, leverage the supply market to help drive product (or service) range enhancement, open new channels to market, and more. While trying to accommodate and deliver on the new demands, a new paradigm is emerging – one that covers the entire procurement function from strategy to transactional buying and all the enabling activities. For this, a skilled procurement team is essential – a requirement that enterprises are grappling with today. To fill the gaps, augment and complement in-house strengths, enterprises are exploring specialist providers that bring specialized skills to the table. As enterprises look to leverage specialist providers, here are 6 ways to drive benefits with approaches that range from analytics-based to value-focused.TRANSCRIPT
@Infosys_bpo #Procurement
6 ways to drive procuremente�ectiveness
THE SOURCING AND PROCUREMENT (S&P) SERIES
@Infosys_bpo #Procurement
The mandate for most chief procurement o�cers (CPOs) today is to deliver and sustain value year-on-year – with limited
resources and budgets. That’s why they need a skilled business process outsourcing (BPO) partner to make their procurement
operations more e�ective. Here are 6 ways to drive bene�ts with approaches that range from analytics-based to value-focused.
6 ways to drive procurement e�ectiveness
THE SOURCING AND PROCUREMENT (S&P) SERIES
@Infosys_bpo #Procurement
1This starts with
achieving function-wide clarity
on roles across spend categories,
functional dependencies with �nance teams, and
value delivery targets by category
portfolios
2Execute a capability
benchmarking assessment to
identify functional performance gaps
and a value assessment across
the full external spend base to
maximizevalue delivery
GET THE RIGHTOPERATING MODEL BENCHMARK TARGETS
6 ways to drive procurement e�ectiveness
THE SOURCING AND PROCUREMENT (S&P) SERIES
@Infosys_bpo #Procurement
3Find a BPO partner with a good mix of
seasoned procurement
professionals that not only augment the internal teams,
but also bring to the table, deep category
expertise and procurement
consulting
4
Formalize structured processes that bring
focus to areas like supplier panel management
services, contract to purchase, and
catalogue management
BOLSTER STRATEGICCAPABILITIES
DERIVE VALUE FROMTACTICAL ACTIVITIES
6 ways to drive procurement e�ectiveness
THE SOURCING AND PROCUREMENT (S&P) SERIES
@Infosys_bpo #Procurement
5
Get a dedicated team to monitor
operational procurement
processes such as master data
management, invoice validation,
and accounts payable processes
6
Leverage high calibre specialist
analytics resources who can provide category-speci�c
dashboards, ad hoc analytics support,
spend cube analytics, and
bene�ts tracking
ENSURE COMPLIANCE ROBUST ANALYTICSAND REPORTING
6 ways to drive procurement e�ectiveness
THE SOURCING AND PROCUREMENT (S&P) SERIES
@Infosys_bpo #Procurement
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6 ways to drive procurement e�ectiveness
THE SOURCING AND PROCUREMENT (S&P) SERIES