For all the wisdom associated with the classic management trio of people, process, and technology, procurement needs one additional ingredient to be successful: data. It is quality data that powers technology, drives processes, and empowers people to generate the greatest possible return from their efforts.
Procurement often talks about visibility and transparency. Data turns abstract goals into actionable insight. In categories where it is easy for distributed buyers to act independently - like cloud software for instance - visibility also provides procurement with opportunities for improved savings leverage and the centralized oversight required to stop ‘shadow spend’ in its tracks.
In this AOP Live session, Art of Procurement’s Philip Ideson was joined by Emily Campbell, Head of Product Design and Research at Vendr, and Nick Pinkman, Sr. Cloud Manager at Vendr. As they have seen firsthand, having greater visibility makes it possible for procurement to negotiate maximum savings while making sure the company has what it needs to operate competitively in a digital world.
Emily and Nick shared their perspectives and answer live questions about:
The importance of centralizing workflows for managing spend and headcount
The different types of cloud savings procurement should pursue during contract negotiations
What data procurement should have in hand before entering a cloud software negotiation
