Webinar: Analytics + Action = Results
Understanding the organization’s Indirect expenditures sounds like a simple task for a procurement team. The reality is often quite different. Complex ERP queries, data mapping from expense systems and manual categorization is a huge lift for many teams; worse, once complete, the data is usually out-of-date and the work needs to be done again.
We know why accurate spend data is critical to Procurement teams. Thoughtful category planning begins with spend data analysis; driving out the value opportunities contained within the data is the first step. How can Procurement leaders know what opportunities are available for their Sourcing teams to go after when data is coming from multiple systems, in different taxonomies at various levels of completeness? And how can Procurement ensure the organization achieves the savings they work so hard to generate without an up-to-date and accurate view of spend with approved (or non-approved) suppliers?
The challenges don’t stop here though. For Procurement organizations that do manage to develop a complete and accurate view of their spend, leveraging this pricing, supplier and contract data across the Source-to-Contract process then involves time-consuming manual tasks, manual keying (or re-keying) of data and numerous Excel files to update for progress reports to leadership and business unit stakeholders. Without purpose-built, integrated tools and a consistent approach to ongoing data management, Procurement teams will continue to struggle to execute events, sign contracts and report on their overall value delivered.
Built by Procurement professionals for Procurement professionals, OneMarket brings together spend analysis, sourcing execution, contracts management and performance management in a single platform, empowering Procurement teams to identify opportunities, execute on sourcing initiatives, finalize contracts – and ultimately, to get what they negotiated.
Jo Seed, Chief Operating Officer, OneMarket
Mark Flowers, Managing Director, Product Management, OneMarket
Marissa Lindquist, Product Manager, OneMarket
The innovative leader in procurement services and technology, LogicSource is purpose-built to drive profit improvement, mitigate risk, and ensure supply chain continuity through better buying. LogicSource focuses exclusively on the sourcing and procurement of indirect goods and services, which typically represent 20% of an organization’s revenue and the area of greatest spending inefficiency. These include complex categories like marketing, packaging, corporate services, facilities, information technology, distribution and logistics and more, for which organizations often lack the capacity, focus and scale to achieve best-in-class buying. Unlike traditional advice-based consultants, LogicSource is a purpose-built buying utility with assets that are configurable to their clients’ needs and ready to deploy. By combining decades of sourcing and procurement expertise, superior market intelligence, cross-portfolio spending leverage, and their OneMarket® Source-to-Pay technology, LogicSource executes customized solutions that deliver immediate savings and sustainable value. For more information visit www.logicsource.com.