Added by ariba, 31 weeks ago

• Location: somewhere

Key Takeaways

• To maximize value from any solution, visibility should extend into spend, processes and performance.
• There are many approaches to gaining visibility, none of which should be considered best practice for all companies. Every company has unique needs and conditions that determine the best approach.
• The approach selected can greatly affect the level of success and must be carefully considered.
• The ongoing nature of spend visibility means that companies need to develop an open, collaborative relationship with a solution
provider that is committed to continuous improvement. Visibility in the Spend Management area refers to the ability of a buying organization to enjoy a comprehensive view of the metrics that drive improved cost savings, process efficiency and supply-chain performance. Specifically, spend visibility enables analysis of past spend for planning future direction and monitoring for compliance issues. Spend Visibility has been the subject of great interest in the past couple of years as solutions have emerged that deliver with consistency and accuracy. Many recognize it as a necessary part of ongoing corporate Spend Management programs as well as the best entry point for those new to Spend Management. Recent studies by analysts validate the value of effective Spend Visibility solutions.
• Incremental value achieved is real and substantial, ranging from 3.6% to over 20% of spend.
• Numerous qualitative benefits such as empowerment of procurement add to the net benefit.
Visibility should extend beyond simply showing who purchased what from whom. Maximum value is obtained by looking into procurement and sourcing processes to dentify bottlenecks, and by measuring the performance of buyers and suppliers. This is especially true in the increasing number of organizations where procurement is evolving into a strategic profit center. Numerous challenges have traditionally prevented effective visibility into spend, processes and performance. These range the entire decision making process, from aggregating the necessary data to enriching it into a useable form to enabling spend-focused analysis by decision makers.

Questions or feedback? email jfogarty@ariba.com