Gigabit January 2019
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Planning a Successful<br />
Procurement Transformation Journey<br />
Wayne Gretzky once said that “a good hockey player plays where the puck is. A great hockey player plays where<br />
the puck is going to be.” The same can be said for procurement leaders planning their organizations’ digital<br />
transformation.<br />
At Ivalua, we’ve had the opportunity to work with hundreds of the world’s leading companies on their journeys.<br />
The most successful have consistently been those that keep their eye on where they want their organizations to<br />
be many years down the road and plot their course accordingly.<br />
While people ultimately are the ones that deliver value and bring successful transformations to fruition, technology<br />
is a critical enabler. It frees capacity, provides necessary insights, enables collaboration at scale and much more.<br />
Successful procurement transformation journeys involve several core phases, and technology must be able to<br />
support each one when you are ready to progress.<br />
Typical<br />
Objectives<br />
Get up and running quickly<br />
Generate ROI<br />
Adopt industry best<br />
practices<br />
Digitize the full Source-to-<br />
Pay process<br />
Manage 100% of spend<br />
Improve data / strategic<br />
insights<br />
Bing your best ideas to life<br />
Establish agility for evolving<br />
requirements<br />
Technology<br />
Requirements<br />
Rapid deployment, adoption<br />
& onboarding<br />
Industry configurations<br />
Complete suite<br />
Unified data model<br />
Powerful configurability<br />
Industry-leading capabilities<br />
Getting Started Best-in-Class Competitive Advantage<br />
Procurement Digital Transformation Journey<br />
If getting started, ensure technology can deliver rapid ROI and deliver best practices. But remember that even if<br />
you are only digitizing part of your process now, when you are ready to build a truly best-in-class procurement<br />
organization you’ll want to digitize the full Source-to-Pay process, in which case an integrated suite to automate<br />
all activity will be needed, and a unified data model will be critical to ensuring 360 degree supplier visibility<br />
or generating process-wide insights from the latest artificial intelligence applications. Fannie Mae was able to<br />
onboard nearly 100% of their suppliers and achieved visibility into 100% of spend. Their team made it happen,<br />
empowered by technology.<br />
You should insist on best practice capabilities and configurations, but realize that as you mature you will inevitably<br />
find that some requirements are truly unique or have evolved. Be sure your technology has the flexibility to<br />
accommodate them through configuration. And remember that best-in-class does not create a competitive<br />
advantage. Top talent will want to innovate and do a few strategic activities differently, better than the competition.<br />
Technology should empower them to do so and bring their best ideas to life. Fannie Mae maintains better insight<br />
into cyber security threats than its suppliers, so implemented a unique process to automatically notify at-risk<br />
suppliers of threats, thereby reducing risk better than others.<br />
Every company’s journey is unique, but<br />
by keeping their eye on where they are<br />
headed, procurement leaders can achieve<br />
their goals.<br />
To learn how Ivalua can accelerate your procurement<br />
digital transformation, visit ivalua.com
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