Tool procurement manager

Increase visibility and control with a unified platform for all product and services purchases. Explore Contigent Workforce Management. Fully evaluate supplier risk factors before deciding whether to move forward with a purchase. Coupa surfaces up-to-date supplier health information at the critical moment when decisions are being made to engage with, purchase from, or approve spend to suppliers.

Explore Supplier Management. Related Customers. Zalando's rapid growth, ever-changing, millennial-dominated business required much more flexibility and control. They found it with Coupa, reducing maverick spend and procurement cycle time. With procurement a priority, and the necessity of complying with banking transparency and security regulations, Barclays finds the one tool they need with Coupa. CHS leveraged Coupa to gather the reins on its multinational agribusiness cooperative and assure compliance with internal and external audits, while standardizing the system-bred efficiency.

Resources and Insights. Spend tool is considered the core tool because it holds most of the raw data and acts as a source for most of the other tools presented here.

The objective of this tool is to clean, collate, classify and present the organization spend data from various systems as per the pre-decided organization taxonomy. This taxonomy is unique for each organization and varies from 3 to 7 different layers depending on the complexity of the organization. The last level of the taxonomy represents unique set of suppliers with unique core competencies and ideally should represent a set of participants for a unique RFP.

The spend analysis process is divided into following steps:. EmpoweringCPO is capable of developing spend dashboard and tools using multiple technologies as per client preference. Business Intelligence and Dashboard platforms classified in Leaders quadrants are adopted so as to present the best user experience and insights. Opportunity Assessment as a tool usually goes along with spend tool and in-fact at times is considered complementary to the later.

The objective of this tool is to keep track of all the major categories with data points like:. Opportunity Assessment as a tool allows management team to prepare multi-year sourcing wave plan and estimate savings that may be possible for the following years.

For projecting savings and identifying opportunities, EmpoweringCPO adopts its proven approach of reviewing each category on two broad parameters:. Scoring all the categories for the above listed parameters and subsequently compiling data for all categories helps in presenting the categories that should be targeted. To fine tune further and estimate potential savings the category management dashboard complements in projecting the right number. In addition it presents information like global trend, demand and supply situation, main competitors, market share, porters 5 forces and other critical insights.

Compliance management is very critical as otherwise the procurement organization may run into a scenario where there is a huge gap between realized savings and reported savings. Many procurement functions estimate large savings number when contracts are signed. And especially those businesses who need to put out RFQs requests for quotation. When you put out an RFQ, Promena will handle each bid and keep them all nicely organized.

It is at the same time a useful way to manage each purchase easily, and also a powerful tool to look back at recent spending and see where your money has gone. This empowers your finance and procurement teams to be both high-functioning and forward-focused. TradeGecko is an inventory management system that helps you connect your supply chain with your customers. Similar to TradeGecko, OrderHive is an online inventory management system.

But this tool is aimed specifically at e-commerce retailers - companies selling goods online directly to consumers. And of course it works with every major e-commerce platform, including eBay, Amazon, Shopify, and Etsy.

This is a more affordable option than many of the others on this list. Pricing : OrderHive offers a day free trial. These are actually made up of six capabilities:. But if you are at this end of the spectrum and want to establish a robust, lasting procurement management system, this is a fantastic option. Not every company needs the comprehensive ERP. For medium-sized and growing businesses, there are usually more urgent things to worry about.

And chief among them is having easy and smart ways to pay for inventory and supplies , especially when there are a range of different suppliers who expect to be paid differently.

Spendesk gives companies the option to pay with prepaid cards including flexible limits based on the spender , processing tools to collect and pay supplier invoices, and virtual cards for more secure online purchases. This is the ideal option for fast-moving teams who also travel or make lots of subscription payments.

They want to be able to control all of this spending easily, without adding new and complicated tools for every type of payment. It lets you create departmental budgets and spending limits, pre-approved vendors and purchases, and even set delivery instructions at the time of purchase.

Which may be the biggest win of all. Gatekeeper is built to help you manage the relationship between your company, its employees, and external suppliers. In light of their ability to reduce costs, improve outcomes and identify strategic partnerships, it should come as no surprise. In fact, an article from the University of Michigan comments on this trend saying:. New technology enables them to take on more complex and strategic roles in many organizations.

They are becoming more empowered to analyze business operations, identify potential problems and recommend solutions. Accordingly, the job duties of a procurement manager have expanded. Likewise, the number of factors they consider when selecting a vendor has also grown. To be effective, procurement managers must collaborate with every department.

The result? Rogue spend. Also known as dark purchasing, invisible spend, tail spend, unmanaged spend or maverick spend, rogue spend is any purchase made outside of the procurement process. According to a report from Hackett Group , almost 29 percent of indirect spend is off-contract or rogue spend. These items are difficult to account for and open the business up to risk.

He recommends improving process transparency, being proactive and engaging with stakeholders early. Ultimately , involving stakeholders in solution builds trust and credibility. Even in businesses where digital transformation initiatives are widely embraced, technology seems slow to arrive in the procurement department.