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20 July 2017

JAGGAER Defines the Procurement Value Engine

New white paper delineates seven layers of value

Vienna | RESEARCH TRIANGLE PARK, NC July 20, 2017 – Only procurement departments that balance effectiveness and efficiency successfully increase their ROI and become long-term, value-adding partners in their companies. This is one of the key findings in the new white papers by Bertrand Maltaverne (JAGGAER) and Michael Lamoureux (Sourcing Innovation Blog). They introduce an innovative new approach to the “Procurement Value Engine” as well as the seven levers of value in procurement. The paper also includes a case study focused on compliance that analyzes three different scenarios and their effects on procurement. Find out more - download white paper for free!

Every procurement department wants to generate measurable added-value for their company to support the USP (Unique Selling Proposition) or the UVP (Unique Value Proposition). Procurement organizations can also make their companies more competitive by using the right strategies to improve spend management. This approach helped procurement change the general perception that its sole value was in procuring parts for production a long time ago. In fact, studies conducted by the renowned Hackett Group show that top-class procurement organizations have a significantly higher ROI than the rest of the company. 

7 Levers of Value in Procurement

The authors of the white paper introduce an innovative new concept to help Procurement make their money go further and increase their long-term value contribution to the company: the Procurement Value Engine. This new approach will help procurement departments continue to develop and create long-term value (sustainability) for the stakeholders in the company (effectiveness) with the optimal amount of resources and energy (efficiency). The authors identify seven levers of value in procurement that are available to leaders and decision makers in procurement. They also introduce the key aspects of each lever and provide a detailed action plan for how to effectively use these levers to create more value for money. This helps procurement measure the ROI for each lever in terms of effectiveness (more savings, higher profit contribution, reduced risk…) and efficiency (reduced processing costs, shorter lead times). 

The new white paper provides a step-by-step guide with concrete examples and action plans for improving spend management and increasing the maturity of a procurement organization. Download it now, for free!

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About JAGGAER: JAGGAER offers the only comprehensive and complete spend solution suites enabling commerce between any businesses, anywhere. We pioneered spend solutions over two decades ago and have continued to lead the innovation curve by listening to customers and analyzing the market. Our solutions suites are trusted by the world's largest higher education, manufacturing, pharmaceutical, life sciences, automotive, engineering, construction equipment, serial production and medical technology companies. Our indirect and direct spend solutions suites collectively form a global network processing billions of dollars in annual spend between 900+ customers and 2.5 million suppliers. JAGGAER’s SaaS based, Source to Pay (S2P) solutions enable an efficient relationship between buyers and suppliers, covering the entire spectrum of needs, from spend analysis to sourcing, through contract and supplier relationship management. Additionally, JAGGAER holds 38 patents, more than any other spend management company, and acquired POOL4TOOL in 2017. Learn how our solutions can power your organization.  | 

About Sourcing Innovation: Sourcing Innovation is a resource for sourcing, procurement, and supply chain professionals who are interested in improving themselves and the overall performance of their organizations. Sourcing Innovation is education about, and in-depth analysis of, technologies and approaches that can have a profound impact on the way you do business. The editor believes that the more you know, the better your chances of success. Sourcing Innovation, started in June of 2006, is authored and edited by Michael Lamoureux, aka the doctor, a Computer Science PhD who has been heavily involved in the Sourcing and Supply Chain Space since 2000 and the e-Commerce space since 1997.