(Chapter 5) Adventures of Ivan the CPO: 10 Technology Tools Every Procurement Team Needs In 2018
- Chapter 1: Ivan joined his new job as a CPO, with a host of challenges which needs to be overcome.
- Chapter 2: Friends in Need, Indeed!
- Chapter 3: “Not All Those Who Wander Are Lost”
- Chapter 4: “ Lock, Stock, and Smoking Barrel.”
” Collaboration is a Two Way Street.”
Ivan wanted to transform few of the procurement processes and required few members of his team to work on conceptualizing and creating the new processes. That meant freeing up members of his team, which is always difficult.
However, after careful analysis, Ivan could identify a specific area of improvement, which required collaborating with other stakeholders. The area under discussion was requisitions of 2 particular sections : One Time purchases and Tactical Buys. In both these segments, other stakeholders had a bigger role in decision making than procurement, and often procurement was involved in the purchase decision only as a mediator.
Ivan decided it was time that he entrust the requester with more responsibility for such purchases, and ask them to get take care of many transactional aspects of such spend to free up his team for other work. What he didn’t expect was how eagerly requesters welcomed his suggestion. Ivan realized in most cases the requester usually have specific needs in mind and was ready to spend more time on this as long as they got the desired results.
Using Zycus’ Quick Source, Ivan ensured for such category of spend; requesters can directly flip a requisition to a sourcing event, suggest suppliers, get suppliers to respond to customized queries within the tool and shortlist vendors before flipping it back to a Purchase Request. Thus, the procurement team still had control on the spend, without spending too much time mediating between the supplier and the requester.
As an icing on the cake, Zycus also provided Quick Search, a feature which auto-fetched previous spend information for each PR for the requester’s purview , which ensured more tactical spend was being routed to suppliers who have a history with the organization. Also, the requester often used the past spend information as a reference point while starting a sourcing process, enabling better cost savings.
Collaborating with stakeholders has created a win-win scenario for Ivan. Now he could focus on more strategic activities.
Keep checking this space to know how Ivan brought invoice process in control in Chapter 6! To be Continued…