“ BSM platforms are centered around the idea of unifying spend in one place and all the information intelligence that you can harness from that ”
MICHAEL SCHANKER VP OF STRATEGIC MARKETING , COUPA SOFTWARE
makes it easy to share data and easy to collaborate through your processes , that ' s the way that you ' re actually going to be able to accomplish individual and joint goals for the company .
“ So I think that is the way you can break down those organisational silos by using technology as a catalyst to illustrate the ways that these different groups can get more value together than they could trying to work by themselves .”
What are the challenges when adopting a BSM platform ? “ One of the biggest challenges is building awareness for it across the organisation ,” says Schanker . “ Procurement can ' t be as effective operating in a silo , they really need to orchestrate spend processes across the supply chain , across finance and really across employees in every department of the company , and sometimes there isn ' t broad awareness of why these decisions matter . They don ' t necessarily understand the big picture of how it ’ s going to help the business be more effective , more efficient , and mitigate the risks that are out there .”
Another big challenge Schanker identifies is ‘ legacy views ’ across a business of what procurement ' s mission is . “ It ' s really so much
72 April 2021