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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Tuesday, July 25, 2017 | 11:00 AM - 12:00 PM Central European Time*