THE IMPACT OF COVID-19
PROCUREMENT ANALYTICS
“ As the data shows , leaders are struggling and need data analytics not only to deliver cost savings but drive additional value across the business . Procurement has a golden opportunity — one made possible by realtime data , predictive analytics and new tech tools — to double down on other key levers across direct and indirect spend like inventory and consumption of goods and services to lower spend and drive value ,” adds Gottesman .
Alex Saric , CMO and Smart Procurement Expert at Ivalua , adds to Gottesman comments , stating that “ Data analytics is the foundation for organisations looking to make strategic , informed decisions regarding how they spend and with which suppliers . By having access to data on everything from current trends to geo-political risk factors , organisations can identify new opportunities for innovation , monitor risk in particular areas of the market , and ensure compliance in relevant regulations for future projects .”
THE IMPACT OF COVID-19
“ Disruption caused by COVID- 19 exposed blind spots for many organisations , as their insights were hampered by data that was dispersed and of poor quality , limiting effective decision making on suppliers when they needed it most . It ’ s now more important than ever that organisations have analytics capabilities that can bolster supply chain resilience and help to monitor risk , so they are better prepared for future crises .”
Alex Saric CMO and smart procurement expert , Ivalua
“ Analytics is no longer a standalone solution where you extract data from other sources . There are solutions out there such as Coupa that are end-to-end . With the power of analytics you ' re able to extract data points from the various different elements of what procurement does ”
MICHAEL VAN KEULEN CHIEF PROCUREMENT OFFICER , COUPA SOFTWARE
72 June 2021