Read Report > https://lnkd.in/gAtsKNMF “…Our data analysis illustrates that it is entirely possible to fashion a silk purse from the sow’s ear of SG&A expenses. Moreover, it proves how #procurement expertise can add clear strategic value to financial performance. This paper proves that the strategic management of indirect costs can contribute to profit just as easily, if not faster, than generating new revenue. Achieving savings from indirect costs can make a substantial difference to profits, especially for companies that operate on low margins. Moreover, our analysis illustrates how tomorrow’s procurement capability – what we call #NextGen procurement – shifts the focus from delivering savings to delivering value. In this case, this is through renewed capabilities in data analytics and a team that is highly skilled in extracting value from data, which then unlocks new strategic savings and increases profit.” Infosys Portland Director Bernie Donachie and Manager Scott Ellsworth have conducted a comprehensive review of the revenue generation procurement can unlock for the business and driving even more value than ever before. In a time where generating new streams of revenue is challenging, this is a less labor intensive method to positively affect the bottom line.
Infosys Portland’s Post
More Relevant Posts
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We aggregated the filings of publicly traded companies and articulate the premise that savings can be particularly valuable, alongside efficiency gains and incremental sales, when considering efforts to impact the bottom line. This article explores ratios between incremental sales $ and savings $ and their impact on operating margins, encouraging leaders to consider their investments in efforts toward procurement and cost savings not only as a way to mitigate headwinds, but as a valuable driver of profitability. Most companies are intensely focused on their core competencies and cost of sales, but there could be undervalued and untapped potential within OpEx and SG&A. What are your ratios? To my fellow procurement leaders, this perspective can also be leveraged to gain buy in for initiatives to properly grow and enhance your procurement function. I'm happy to take any feedback, questions, or discussion of how to explore this further. Follow the link to check out my study!
Read Report > https://lnkd.in/gAtsKNMF “…Our data analysis illustrates that it is entirely possible to fashion a silk purse from the sow’s ear of SG&A expenses. Moreover, it proves how #procurement expertise can add clear strategic value to financial performance. This paper proves that the strategic management of indirect costs can contribute to profit just as easily, if not faster, than generating new revenue. Achieving savings from indirect costs can make a substantial difference to profits, especially for companies that operate on low margins. Moreover, our analysis illustrates how tomorrow’s procurement capability – what we call #NextGen procurement – shifts the focus from delivering savings to delivering value. In this case, this is through renewed capabilities in data analytics and a team that is highly skilled in extracting value from data, which then unlocks new strategic savings and increases profit.” Infosys Portland Director Bernie Donachie and Manager Scott Ellsworth have conducted a comprehensive review of the revenue generation procurement can unlock for the business and driving even more value than ever before. In a time where generating new streams of revenue is challenging, this is a less labor intensive method to positively affect the bottom line.
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Associate Director. Procurement expert. Husband, father to 2, local U14 football manager and love the game of squash!
An apt article, following the recent Budget, on the benefits of a focused approach to your Indirect costs and positively delivering significant and rapid benefits to your bottom line. A great way to collaborate and raise the value and profile of Procurement without substantial change management. Drop me a line for any advice on how to get started, holistically across your organisation or in a single category. Infosys Portland Infosys Infosys BPM
Read Report > https://lnkd.in/gAtsKNMF “…Our data analysis illustrates that it is entirely possible to fashion a silk purse from the sow’s ear of SG&A expenses. Moreover, it proves how #procurement expertise can add clear strategic value to financial performance. This paper proves that the strategic management of indirect costs can contribute to profit just as easily, if not faster, than generating new revenue. Achieving savings from indirect costs can make a substantial difference to profits, especially for companies that operate on low margins. Moreover, our analysis illustrates how tomorrow’s procurement capability – what we call #NextGen procurement – shifts the focus from delivering savings to delivering value. In this case, this is through renewed capabilities in data analytics and a team that is highly skilled in extracting value from data, which then unlocks new strategic savings and increases profit.” Infosys Portland Director Bernie Donachie and Manager Scott Ellsworth have conducted a comprehensive review of the revenue generation procurement can unlock for the business and driving even more value than ever before. In a time where generating new streams of revenue is challenging, this is a less labor intensive method to positively affect the bottom line.
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Insights from KPMG and McKinsey & Company note that the growing availability of data will empower more informed decision-making. Our Group Executive: Chief Procurement Officer, Dirk Karl believes that utilizing data analytics and business intelligence will enable companies to streamline procurement processes, cut costs, and strengthen supplier relationships. Do you agree? Share your thoughts in the comments. #ConnecttoCreate #Procurement #supplychain #2025planning
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Cost reduction specialist | Boosting profits/resources by reducing the costs that clients pay | NED and board adviser
How should procurement communicate with data? To truly influence, procurement professionals must know how to share data. Knowing your stakeholders, including their perspectives and the data they need is vital for understanding how and what to communicate with them. Most importantly, you need to understand why they need it. You must then think about how to reduce the amount of data you share. You need to set rules of engagement early to ensure a single source of truth is maintained. To achieve this, some key questions that need answering: · Who owns what data? · Who has access to what data? Should it be view or edit access? · When is the data updated and by whom, on which system? · When will the data for onward communication be collated (e.g. last day of the month)? · What format will the data be shared in? The simple volume of data can become overwhelming and quickly lead to ‘data paralysis’. Even if the procurement function can make sense of it, you need to ensure this doesn’t happen when you’re communicating the data to others. Sharing data purely because it is available, rather than it actively contributing to decision making, should be avoided at all costs. Likewise, be careful on how often you are collecting data points – this can result in an inability to see any progress. Thoughts anyone? #costreduction #procurement #accountancy #business #icaew #nonexecutivedirector #ned
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📊 Why Good Procurement Data is Hard to Come By Anyone in procurement will tell you that having good data is critical, but achieving it is no small feat. So, why is good procurement data so hard to obtain? 🏢 Data Silos and Lack of Integration: In many organizations, data is scattered across different systems and departments like finance and operations. Consolidating this data into a usable format can be a logistical nightmare and costly, limiting the usability of the information. ❌ Quality Issues: Data quality is often compromised by entry errors, outdated information, and inconsistencies in data collection methods. This makes it difficult to trust the data we rely on for making critical procurement decisions. 🔄 Changing Landscape: Procurement is continuously evolving. Market conditions, supplier capabilities, and compliance requirements can shift, meaning data must be continually updated and maintained to remain relevant. 📉 Analytical Skills Gap: Having data is one thing; analyzing it to extract meaningful insights is another. There is often a gap in analytical capabilities within teams that prevents organizations from fully utilizing their data. Despite these challenges, the pursuit of good procurement data is a worthwhile task. High-quality data empowers procurement professionals to optimize costs, manage risks, and drive strategic decisions that align with broader business goals. 🔍 Your Thoughts? How does your organization tackle these data challenges? Let's share insights and learn from each other's experiences! #Procurement #DataQuality #BusinessIntelligence #DataChallenges#Procurementtransformation#strategicsourcing
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What happens when a business has a sole source of truth for its #data? It can spot pitfalls and find the right solutions faster. Here's a great story of how a global logistics firm boosts spend visibility to 95% through data-driven procurement, driving smarter decision-making and unlocking new pathways to success. https://accntu.re/48RK0rf #Logistics #Procurement #DataDriven #SuccessStrategies
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What happens when a business has a sole source of truth for its #data? It can spot pitfalls and find the right solutions faster. Here's a great story of how a global logistics firm boosts spend visibility to 95% through data-driven procurement, driving smarter decision-making and unlocking new pathways to success. https://accntu.re/48RK0rf #Logistics #Procurement #DataDriven #SuccessStrategies
Improving Spend Visibility in Procurement | Accenture
accenture.com
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What happens when a business has a sole source of truth for its #data? It can spot pitfalls and find the right solutions faster. Here's a great story of how a global logistics firm boosts spend visibility to 95% through data-driven procurement, driving smarter decision-making and unlocking new pathways to success. https://accntu.re/48RK0rf #Logistics #Procurement #DataDriven #SuccessStrategies
Improving Spend Visibility in Procurement | Accenture
accenture.com
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Data-driven procurement isn't just a buzzword – it's a game-changer for businesses. But how can you harness its power? Joe Williams, Lead Consultant at Argon & Co Australia dives deep into the transformative potential of a robust data strategy, showcasing real-world success stories and the benefits it brings to procurement. Discover how data can: Improve decision-making Enhance supplier management Control costs and boost efficiency Drive sustainability efforts Read the full article here: https://lnkd.in/gnE3ZGxT #Procurement #DataStrategyImplementation #DecisionMaking
Reaping the rewards: the benefits of effective data strategy implementation in procurement - Argon & Co
https://www.argonandco.com/en/
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What happens when a business has a sole source of truth for its #data? It can spot pitfalls and find the right solutions faster. Here's a great story of how a global logistics firm boosts spend visibility to 95% through data-driven procurement, driving smarter decision-making and unlocking new pathways to success. https://accntu.re/48RK0rf #Logistics #Procurement #DataDriven #SuccessStrategies
Improving Spend Visibility in Procurement | Accenture
accenture.com
If you would like an in depth analysis done for your business, please reach out to Bernie Donachie or Jeremy Began