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Data Analysis

Project Charters – The Ultimate Category Transformation: The Data Suite Series #6

Effective procurement is a journey. From spend analysis and data categorisation through to compliance, contract management and opportunity analysis, there are stations along the way where we can stop, get off and use what we’ve learned up to that point. But if you want to put into action every scrap…
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Maximise Your Precious Resources with Opportunity Analysis: The Data Suite Series – #5

All organisations have one particular concern in common: proper allocation of finite resources. The difference between doing this right and doing it wrong is boom and bust. This concern touches all aspects of business, but none more so than procurement. With the rise of globalisation, supply chains have swelled into…
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Procurement Strategy for an Unpredictable World

A person thinking about procurement strategy

The future of procurement strategy is data driven. In fact, it should already be a reality in your organisation. I don’t believe this is something I have to convince you of. We all accept it. My question is: are we actually using data correctly? Do we really understand what data…
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Compliance Reporting: The Data Suite Series – #3

The third edition of our Data Suite series takes a deep dive into organisational compliance, why you need it and how to manage it. Maverick spending is a problem. For some organisations, it accounts for up to 80% of total spend. To get on top of it, though, you need…
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Data Categorisation: The Data Suite Series – #2

The second edition of our Data Suite Series takes a look at data categorisation and the benefits of developing a procurement taxonomy. Data categorisation. It’s what every procurement team wants. It’s the next stage after a spend analysis, and it’s where the presentation of data starts yielding really useful and…
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What Is a Procurement Spend Cube?: The Data Suite Series – #1

It’s not about what you have; it’s how you use it. Anyone can collect data, but more and more organisations are struggling to visualise it in a manner which leads to actionable insights. If you want to see your spend data clearly, you have to put it in a spend…
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5 Ways Procurement Can Expand Your Business

Expand or die. It may seem like a brutal ultimatum, but it holds some truth when it comes to the business world. Organisations, like the universe, cannot stay still: they expand or they contract. That’s it. If you want to keep operating, you have to keep growing. But this growth…
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Data Analytics: Develop Core Skills, Outsource the Rest

Data analytics has been the buzzword in the procurement industry for years, yet there are still many organisations that can’t articulate precisely what it can do for them. Not only has this prevented them from developing their data analysis capabilities, but it’s also meant that those companies who truly benefit…
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Spend Analysis for Data-Driven Decisions

spend analysis-blog-post-image

A lack of information used to be the issue for procurement departments. Now that we’re drowning in it, the problem has shifted; how do we organise all this data into some kind of coherent story? Procurement can only be as effective as the data it understands, and too many organisations…
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Procurement Fraud: It’s time to say ‘no’ to the quid pro quo

A hand reaching down for money sitting in a bear trap, representing procurement fraud

Globally, the cost is US$3.7 trillion annually. Your organisation alone is losing anywhere from $10,000 to $150,000 a year. For some departments, that’s a conservative figure. Based on these numbers alone, you’d assume those in managerial positions would be doing everything they can to stop the bleeding but, for several…
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