How Are You Elevating Procurement And Role in Your Enterprise?

The procurement organization has never been afraid of technology. It rode the dot-com wave like many other departments, rolling out e-procurement and reverse auction functionality, while launching public and private marketplaces by the dozens. It used technology to automate routine tasks with the goal of taking the next step and focusing on more strategic areas like supplier risk management and detailed spend analysis.


But for many procurement organizations, that next step didn’t come. They got bogged down in resource constraints or budget cuts and never deployed the technology required to truly transform procurement. Now is the time for procurement to take that step. In the current market, many companies are focused on bottom-line savings and top-line growth, and the latest wave of procurement technology can help drive both.

To learn how new innovations are changing the role procurement plays within the enterprise, SAPinsider recently spoke with SAP’s Chris Salis, Global Vice President of Procurement Solutions, and Emily Rakowski, Senior Director and Head of Procurement Solutions Marketing.

SAP Enterprise Performance Management - EPM

In today's competitive business environment (as if it was less competitive at some point ), the most important thing is analytics. Analytics because it gives some kind of actionable intelligence. This intelligence when implemented correctly through multiple actions inside organizational business units provides a predictibility - which directly business bottomlines.

SAP is having this complete solution suite - Enterprise Performance Management - which includes different solutions for different problems. The end goal for each of these is same - to gain some predictability and enhance performance of the function and then collectively enhance performance of the organization as a whole.

Lets look at these different solutions -

  • Strategy management – Set your goals, map your strategies, and then manage performance from high-level objectives to operational metrics.
  • Planning and consolidation – Increase the accuracy and effectiveness of planning, budgeting, forecasting and financial reporting processes.
  • Financial consolidation – Complete your financial consolidation and reporting cycles faster – with complete confidence in your data.
  • Disclosure management – Ensure a timely, accurate, and risk-free close process by managing the production, filing, and publication of financial and regulatory statements and reports.
  • Notes management – Streamline the collection and management of financial notes to help improve your financial statements and reports.
  • Financial information management – Leverage powerful connectivity, mapping, and loading functionality designed for business users.
  • Intercompany reconciliation – Accelerate your close by enabling business units to reconcile intercompany balances and transactions directly with one another.
  • Profitability and cost management – Identify the causes of underperformance, and take action to reduce costs and optimize profitability.
  • Spend performance management – Maximize cost savings and reduce supplier risk by gaining continuous visibility into company-wide spending patterns.
  • Supply chain performance management – Measurably improve supply chain effectiveness by focusing on actionable, operational process metrics.
  • Sales and operations planning – Develop synchronized demand and supply plans that are feasible and aligned with your company's financial goals.

Lets look  at each of these solutions and understand more in coming days

let me know your feedback at pmendki(at)gmail(dot)com

Thanks
Prashant Mendki

SAP DEC - Data Enrichment and Classification

So there is a new animal in the zoo. Is it really really different ? probably yes - probably not. But yes - world seems to be curious to know - if its different then whats that difference is?

SAP recently launched its long awaiting "new" product in Spend Analytics named as "SAP BusinessObjects Data Enrichment and Classification" (SAP BOBJ DEC). You can read official SAP page here and also download the product related information in this SAP DEC PDF.

Is it a game changer ? Yes. Since SAP took over Analytics Inc in 2008 and Business Objects in the same year - they announced a product roadmap integrating the technology platform with the engine that Analytics got on board. 3 years of big effort and we got this good new product.

So whats the real difference that SAP partners like Bristlecone can offer now ?
1. A faster engine - Which means less execution time for a engagement - traslated into quick spend visbility
2. Large vendor repository - a real good more than 100 million large vendor compendium that SAP setup with its partnership with various data providers like D&B. This means greater accuracy in terms of supplier normalization
3. A better interface - Interface is built using its consistent corporate style objects based on Java engine and Adobe Flex. So it gives one product shape to entire landscape.

Are we done with all spend products now ? No. The verdit is not yet out really. This is still first step of this product - and it really needs to be seen how customer accept it and how it really works for customers.

If you have any questions related to this product - please send me a mail pmendki (at) gmail (dot) com and I will surely get more information