Four Keys to Procurement Excellence

Procurement and purchasing excellence means many things to many people and to avoid this confusion the services SCN Partners provide in this case are focused on delivering the four keys to procurement excellence which are.

– Spend Analysis

– Strategic Sourcing

– Contract Management

– Supplier Management

Each of these four pillars of this advance procurement solutions suite will now be reviewed to give you a better understanding of the power and control over the purchasing cycle available by practicing these four methods in a structured manner.

Spend Analysis

The success of any supply management initiative is largely dependent upon the ability to access, organize, and analyze spend data.

TotalSpend is the first solution to combine proven data classification, analysis, and spend category management capabilities – all in a single platform.

Built on 10 years of development and proven deployment, TotalSpend automates and streamlines the complete spend management lifecycle, including automated spend data extraction and classification, spend visibility and analysis, spend category management, and purchasing-team knowledge management. The solution arms supply professionals with the detailed intelligence they need to make informed sourcing, supplier, and category management decisions.

Strategic Sourcing

Strategic sourcing is the single greatest opportunity to impact the total cost of ownership, quality, and performance of your supply chain.

Enterprises of all sizes and industries are rushing to develop strategic sourcing competence and secure the optimal mix of suppliers to ensure supply, mitigate risks, reduce costs, and capitalize on emerging markets.

TotalSource accelerates strategic sourcing excellence by delivering a highly intuitive and integrated solution for managing the complete strategic sourcing lifecycle.

An On Demand delivery model eliminates the need to install and maintain costly software and hardware, leaving you to focus on accelerating results and improving strategic sourcing performance.

TotalSource consists of two modules that integrate strategic sourcing and optimization capabilities:

TotalSource – automates and streamlines the end-to-end strategic sourcing lifecycle, including supplier and requirements identification, total-value-based negotiations, and sourcing project and knowledge management.

Optimization – empowers frontline sourcing managers to configure and analyze complex sourcing, bidding, and award scenarios within the constraints of corporate business objectives.

Contract Management

With profitability, compliance, and risk management high on executive agendas, effective contract management is emerging as a business imperative.

Contract Lifecycle Management (CLM) is the process of systematically and efficiently managing contract creation, execution, and analysis for maximizing performance and minimizing risk.

The Contract Management solution accelerates companies to contract management excellence by delivering award-winning solutions that automate and streamline the entire contract lifecycle – from initial negotiation, authoring, and collaboration through compliance and performance management.

This Contract Management solution incorporates a highly intuitive user interface, robust functionality and reporting, and open application architecture and integration methods to enable collaborative creation and management of all types of contracts across the complete contract lifecycle.

TotalContracts consists of two modules that integrate contract negotiation and management:

Deal Manager – streamlines the contract request, creation, and approval process, accelerating best value, low risk deals that are compliant with corporate standards and policies.

Contract Manager – provides visibility and control of all corporate agreements, helping enterprises ensure compliance and optimize contract value.

Supplier Management

Sustaining and continuously improving the value of the supply base requires constant measurement, analysis, and management of supplier performance.

In this era of globalization and outsourcing, companies’ competitiveness, operating efficiency, and cost structures are increasingly dependent upon the performance of external supply partners. Sourcing the right supplier mix is a critical first step.

TotalSupplier streamlines supplier management and improves supplier initiatives with a comprehensive and integrated solution that spans the complete supplier management lifecycle – from initial supplier registration and assessment to ongoing performance measurement and monitoring to corrective action and improvement.

TotalSupplier delivers a timely and holistic view of supplier capabilities, interactions, and performance and the decision support tools to execute informed sourcing, improvement, and supplier development decisions. Available On Demand, TotalSupplier frees buyers and suppliers from installing or maintaining costly software, so they can focus on what counts – increasing value from collaboration and continuous improvement.

To learn more about how your firm can benefit from the four On Demand solutions for procurement excellence, just ASK and we’ll be happy to help you start down the road to making your purchasing organization best in class and procurement performance.

Jeff Ashcroft

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