Today on the Art of Procurement, I welcome back David Bush, the Chief Revenue Officer for SpendHQ.
David joined me back in Episode 139 to share his advice on the steps that procurement leaders can take to gain greater visibility into supplier spend, which is the foundation of robust procurement strategies.
Today we continue the conversation with a look to the future – how will spend analytics evolve, and what impact are emerging technologies likely to have in the way we understand and gain visibility into the products and services that we buy.
“From my perspective I think it’s the combination of existing and emerging technologies more so than the cutting edge technologies that really have the most value. You can have static reporting that’s OK but when you get into some of the very innovative ways to visualize data, that’s very impactful, it adds a lot of value right away.” – David Bush, SpendHQ
In this episode, you will learn:
- The importance of exposing spend data to the entire organization rather than sharing with stakeholders on a “need to know” basis
- How procurement leaders can build a business case for investment in spend analytics tools
- What emerging technologies will impact the insights we gain into out spend data – and why new technologies on their own are not the answer.
- Will technology negate the need for a human touch when cleansing and categorizing spend data?
Links and Resources:
- Subscribe to the Art of Procurement podcast.
- David Bush on LinkedIn
- Spend HQ Resource Center – whitepapers and external analyst reports referenced in today’s show
- SpendHQ Home Page
- SpendHQ Webinar: The Spend Analysis Unicorn: The Magic Formula of Technology & Expertise