Realising procurement savings and added value A common struggle for many in procurement is the calculation of savings and value , as well as realising it in a way that people can really feel the benefits . “ Every conference I go to , this is always a topic ,” says Ascolani .
“ It is not always a straightforward proposition , especially in a rapidly growing organisation such as ours , but I find that being able to realise savings so that they are felt comes down to an organisation ' s relationship with the finance team and stakeholders . Procurement ’ s value add to an organisation goes well beyond budgetary savings , but oftentimes , this type of savings is the one that feels most real to budget owners and stakeholders . So regardless of your savings methodology , tying it to the budget is key . Once you ’ ve established the budgetary savings with validation by your finance team , it is much easier to champion the other aspects of the value that procurement provides such as cost avoidance and tail spend management . This is critical so that all aspects of the procurement teams ’ value to the organisation are recognised .”
TransUnion over the next 12 to 18 months Over the next 12 to 18 months , TransUnion will be heavily focused on navigating the complex activities that follow M & A activity . “ We ’ ve conducted a fair amount of acquisitions and divestitures , so there is a lot of work to be done to navigate the challenges of these activities ,” says Ascolani .
“ But we ’ re up for the challenge ! It ’ s an exciting time – there is a lot to do , we are leveraging a lot of strategic relationships during this time – and , had we not had these relationships , this process would have been significantly more difficult .
“ So the next 12 to 18 months will include merging the organisations that we bought under a single , common operating model , as well as further navigating recovery from COVID-19 .” procurementmag . com 169