In the New Normal, it’s never been more important to understand where your organization sits relative to your peers and competitors. This is particularly true when it comes to commerce management strategies and approaches. A majority of companies are using some form of advanced commerce management techniques to help meeting their goals – [...]
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I would like spend some time to talk about what’s new in spend analysis technology and the benefits its providing to the market in terms of efficiency, visibility and speed to ROI.
Data Extraction and Importation
The biggest undertaking with older da…
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In our last post we discussed how Marketing Procurement was still a sacred cow at many companies, despite the fact that significant savings, which exceeded 42% at one CPG company, are to be had. Even though CIPS and the IPA tried to highlight the potential three years ago with their report on Magic and Logic: Re-defining sustainable business practices for agencies, marketing, and procurement, which was followed by Efficio’s treatise on The Creative Challenge: Driving Efficiencies in Marketing Procurement which laid out an eight-step approach to driving efficiencies in Marketing Procurement. Then Booz & Co. decided to …
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Three years ago CIPS and the IPA came out with their report on Magic and Logic: Re-defining sustainable business practices for agencies, marketing, and procurement in their attempt to change the game and get the sacred cow marketing budget under control. It was an insightful report, as I noted in my two-part series on Magic & Logic (Part I and Part II), and a great first attempt at carving up the sacred cow. Then, two years ago, Efficio entered the game with their paper on The Creative Challenge: Driving Efficiencies in Marketing Procurement. This report, which covered some …
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How often have you heard the phrase what you don’t know is what costs you? This phrase has never been truer than when companies are trying to assess who and what they are spending their money on. Take this classic example of what happens when a cor…
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At the recent webinar, Assessing the CFO’s View of Procurement, an audience member asked a question that I’d like to share: What exactly is “spend under management?” Andrew Bartolini, VP and group director of Global Supply Management Research at The Aberdeen Group, answered the question as follows:
It’s an area that I’ve been focused on in [...]
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In the recent webinar, Correcting Your Spend Vision with Visibility, Mickey North Rizza, research director with AMR Research, discussed implementing spend visibility tools to bring more spend under management, gaining competitive advantage through analytics.
During the webinar, we received three really great questions from our audience, and wanted to share Mickey’s responses covering maverick spend, data [...]
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ERP systems have been historically good at processing and recording transactions, but mining data for spend visibility was not one of them. Spend Analysis started in the early 1990’s at progressive companies like GE and at consulting firms like M…
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Cash is king, credit is scarce, and stubborn clouds of uncertainty refuse to dissipate. In this time, maintaining a strong balance sheet and an eye on cash flows is a prerequisite for business leaders seeking to master the twin near-term imperatives of viability and maneuverability.
Scrutiny on money flows outside the four walls of a company, [...]
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Category management is very valuable to organizations that conduct sourcing initiatives and want to capture key knowledge around that specific sourcing category, integrated with the corresponding organizational Spend. This allows for ongoing category…
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