Are you prepared for a successful procurement transformation? As procurement organizations become increasingly more strategic, many struggle to fully understand how their current procurement operations rate relative to operational and financial benchmarks. Even those that do understand what “good” looks like still have to perform a gap analysis, develop their vision and strategic roadmaps, and then deploy the right resources to execute the plan.
At Xeeva, our domain expertise goes well beyond just technology innovation. We are comprised of career procurement practitioners and as part of many client engagements, we’ll first conduct assessments which include operational and spend analysis to determine client performance vs. benchmarks and define for each client what “good” looks like.
With a clear understanding of client performance vs. benchmarks, we can offer a compelling proposition for organizations to undertake ‘real’ procurement transformation. These plans usually involve process efficiency, cost reduction, and technology enablement.
The Bottom Line:
- Measure your organization’s performance vs. industry benchmark
- Determine gaps to that benchmark
- Develop a plan that looks at people, process, and technology
- Concentrate on enhancing not only procurement efficiency but contribution to enterprise objectives
- Be aware of the requirements and valuations of stakeholders
- Make use of gradual procurement practices and technologies to support desired outcomes