Recently Greg published a thought piece called “Spend Visualization” as a [wake-up call] for the procurement industry to the importance of data in making strategic decision and his recommendation on how to aggregate, cleanse, analyze and train your team on using decisions to drive insights and actions.
As global demand continues to drop for many goods and services, fears of a worldwide slowdown and a “coronavirus recession” loom large over corporate leaders. Chief Financial Officers (CFO’s) are scrambling to do sensitivity analyses to understand their profit outlooks and cash needs. Procurement and sourcing teams can play a significant role in reducing supplier spend and improving cash flow by using spend analysis to leverage data in the ERP, contract management, and procure-to-pay systems
Suplari’s leadership team is meeting every day to assess the growing business and personal challenges we’re all encountering with the spread of the COVID-19 virus.
As the business environment begins to contract due to the coronavirus recession, procurement teams have an opportunity to save the day – delivering spend reductions that avoid painful layoffs and help their companies to weather the storm.
The most innovative procurement teams in the industry are driving outsized results, achieving 1.5x greater savings per year than their peers, greater spend under management and better reputation across business stakeholders. Everest Group did a deep dive into the core drivers of success and discovered 6 distinctive drivers: innovation strategy, analytics adoption, strategic sourcing, risk … Read More
Today, Workday announced the $540m acquisition of a procurement SaaS start-up called ScoutRFP which has created an easy to use request for proposal (RFP) tool for procurement teams. Using ScoutRFP, procurement teams and stakeholders across the business can email suppliers to compete for an opportunity at their enterprise. Scout created a pipeline product which allows procurement … Read More
A Suplari Origin Story: As the CFO saw the data, she yelled, “Are you telling me that an employee expensed a $500 Uber ride? Where were they going? St. Louis? I want to know who the employee is, who their manager is, where they were going, and how this expense got approved!” For every CFO, … Read More
Procurement & finance teams and anyone with a 401k witnessed the extreme volatility of the stock market during the week of August 12th. The financial markets are predicting a near term recession. The US-China Trade War is causing a global slowdown. It is hitting Asia and Europe first. The US economy seems very strong right … Read More