How often have you found yourself tossing the trash in the garbage can and missing it, then bent down to pick it up? Did you see yourself repeatedly misspelling your password only to get infuriated; Remember any time walking into a room and forgetting what you were about to do? You may be a high-flying CPO, or a manager focusing on saving costs, but can you identify yourself going through these experiences. Whether it is deciding between ordering the mocha or a cappuccino, or choosing whether to adopt new technology in business— all of us face a million choices every day. Every decision we take help shape our reality. As a procurement professional, you might be having a strong desire to become a strategic partner in the business. However, you might have often found yourself lost in the myriad world of tactical operations.
Businesses try to adopt new technology as soon as it becomes available in the market. But it is quite easy to get lost in the noise surrounding the hype. It is seen that people have the fanatical tenacity to cling to the uniqueness of new technology because of the herd mentality. However, without road mapping, changes would be much difficult to manage.
If professionals like you do not take out time to understand overall technology trends, then one might take decisions on adopting technology solutions that are focused too much on meeting tactical functional requirements of today, while missing the bigger picture of delivering the strategic value to the business, tomorrow.
No technology is inherently better or more valuable than any other type. So, it is important to take a SMART (Specific, Measurable, Achievable, Realistic, and Timely) decision on chosing the right technology which has the ability to deliver on your strategic objectives. The next logical step is to find out how cost effective it is. In this respect, technology should be treated like any other key business investment. It is not hard not to take decisions when one knows what the focus area is. One cannot think analytically while answering emails, getting into calls and meetings, working on excel sheet and presentations. When you are tired of business as usual projects, or just don’t feel well, you are not likely to make the best decisions. Carving some time out just to think, especially if one happens to be in a leadership role is very important.
Ever thought of a smart spend analysis solution which will understand spend quickly and optimize your savings opportunities based on your sourcing strategy? How about intelligent contract management and supplier performance management solutions which promise to drive more value and innovation from your suppliers? Sounds too good to be true? Time for a reality check. There are Source-to-Pay solutions which can do these and much more by helping you to make an informed decision.
You don’t need to get drunk to make bad decisions; everyone has the right to “goof up” but just ensure that you are not overdoing it.
So, keep calm and talk to us, we are listening.