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Spend Analysis

8 Ways Data Analytics Helps Procurement Navigate Conflict & Weather Events

Supplier Risk Assessment

Since the GFC of ’08, procurement has endured a 15-year stress test. Power plant meltdowns, more powerful weather events than ever before, a pandemic and the continuing Russia/Ukraine conflict. How have we, as a function, learned to deal with events outside our control impacting on our supply chains? McKinsey put…
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Procurement Teams Without Spend Visibility Will Be D.O.A.

Supplier Chain Management

CPOs running their procurement operations without visibility into spend are committing procurement malpractice according to a recent article in CPO Rising. The article predicts that procurement teams without spend visibility will be dead-on-arrival. In the procurement world, spend visibility is the foundation of good decision-making. Without it, businesses are operating…
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Procurement Spend Analytics: A Powerful Tool in the Fight Against Modern Slavery

Procurement Spend Analytics

One of the most significant challenges for companies is identifying modern slavery risks in their supply chain. Procurement spend analytics can help by providing companies with comprehensive supply chain data that can be used to identify and address modern slavery risks. Modern Slavery Statement’s Looming Deadline… and then what? The deadline for submitting the Modern Slavery…
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2023: The Year of Procurement Hygiene

Procurement Hygiene Priorities - Procurement Consulting Services

As we enter the new year of 2023, it’s important to reflect on the past and consider how we can improve in the future. One area that organisations should focus on is procurement hygiene. Identify opportunities and clean up your act Procurement hygiene is a crucial component of any successful…
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Spend Analytics Can Drive ESG Initiatives

Track and report on ESG initiatives with Spend Analytics

Environmental, social and governance (ESG) initiatives are important strategy drivers for an increasing number of organisations worldwide. This is no longer only about responsibility to the environment and community we operate in (though that is motivation enough); these initiatives are now considered key drivers in the effort to gain greater…
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What Is a Procurement Spend Cube?: The Data Suite Series – #1

What Is a Procurement Spend Cube?

It’s not about what you have; it’s how you use it. Anyone can collect data, but more and more organisations are struggling to visualise it in a manner which leads to actionable insights. If you want to see your spend data clearly, you have to put it in a spend…
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5 Ways Procurement Can Expand Your Business

5 Ways Procurement Can Expand Your Business

Expand or die. It may seem like a brutal ultimatum, but it holds some truth when it comes to the business world. Organisations, like the universe, cannot stay still: they expand or they contract. That’s it. If you want to keep operating, you have to keep growing. But this growth…
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Spend Analysis for Data-Driven Decisions

What is spend analysis in procurement?

A lack of information used to be the issue for procurement departments. Now that we’re drowning in it, the problem has shifted; how do we organise all this data into some kind of coherent story? Procurement can only be as effective as the data it understands, and too many organisations…
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The New VGPB policy is a Massive Opportunity – if you do it right

Let’s agree on one thing: the new VGPB goods and services policy looks daunting. It’s unlikely that many VGPB expansion agencies will be currently compliant with it and getting there is a complex and sometimes confusing process. However, there’s no denying the benefits this policy can bring to your organisation….
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The Spend Profile: It’s Time You Got to Know Your Own Company

No, procurement officers, it’s not your imagination. People are staring. All eyes are on you. Hellish 2020 may be over, but now it’s February 2021 and companies are desperately trying to identify areas of cost-saving opportunity while shoring up a teetering supply chain. It’s time to step into the breach.

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