Signyc distrupting-status-quo - Coupa


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7 Ways Procurement Innovation is Fundamentally Changing Spend Management

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  • Take a screen shot of search with results, animation to roll down with one and 2
  • Strategic extension to existing system
  • Accelerating time to value from your investments in other solutions
  • Take the best from Web 2.0 to drive adoptionLeverage the power of the crowd to save even moreNotify the right people to prevent overspendingEducation, not excusesIntegrate and collaborate between systemsDemonstrate real results and valueA single platform for controlling all indirect spend
  • Signyc distrupting-status-quo - Coupa

    1. 1. 7 Ways Procurement Innovation is Fundamentally Changing Spend Management
    2. 2. Innovation in·no·va·tion noun  the act of innovating; introduction of new things or methods
    3. 3. Why is innovation so important?  Innovation is what moves us forward to be able to:  Be more efficient  Be more effective  Save (time, money, lives, etc.)  Improve quality  Make new discoveries  Stay on the cutting edge  Be thought leaders
    4. 4. Innovation has redefined everything we do! How wewe travel we we shop How we buy HowHowcommunicate How commute How we power our lives VS VS VS VS
    5. 5. E-Procurement 1.0  Improved efficiency and handling  Took what was being done on paper and put it online  Reduced the need for manual intervention  Automated basic workflows like requisition approvals  Introduced supplier networks  Basic integration into certain systems like ERP
    6. 6. Stalled Innovation  E-Procurement 1.0 required a robust technological backbone  Quarters-to-years to implement  Delayed time to value  Limited ability to prove ROI  Teams of resources to setup and maintain  Technology and market conditions stalled innovation  Dotcom bust  Technology skepticism
    7. 7. Introducing the Cloud & Web 2.0  More applications and innovation that have once again redefined the way we…  Communicate (social networks, blogs)  Get information (RSS, newsfeeds)  Shop (online auctions, name your own price, supplier aggregators)  Manage and maintain applications (less software, less hardware)  And it is redefining the way that procurement, purchasing and sourcing organizations work
    8. 8. 7 Innovations That Are Changing Procurement 1. Take the best from Web 2.0 to drive adoption 2. Leverage the power of the crowd to save even more 3. Notify the right people to prevent overspending 4. Educate employees as they buy to increase compliance 5. Integrate and collaborate between systems 6. Demonstrate real results and value 7. A single platform for controlling all indirect spend
    9. 9. Innovation 1Take the best from Web 2.0 to drive adoption
    10. 10. The Status Quo Enterprise software has to be hard  Designed for functionality, not usability  Requires hardware, software and IT to support  You need to be a highly trained expert to use it
    11. 11. Disruptive Innovation Enterprise software can be as easy as consumer software  Web 2.0 introduced a new generation of applications that  Are more user friendly and user focused  Puts power in the hands of the end user  Makes it easier and faster to share information  Provides a forum for anyone to say anything
    12. 12. Impact on Procurement1. Easy to use, familiar experience  As easy to use as performing a Google search2. Solutions that empower users  One set of results provide purchase options across all channels3. Take advantage of global suppliers and deals  Easily purchase from any supplier within the process
    13. 13. Innovation 2Leverage the power of the crowd to drive adoption
    14. 14. The Status Quo Only professional buyers can source good deals  They are the most educated on suppliers in the space  Have the skills to negotiate favorable terms and prices  Are able to manage the process to choose the right supplier for the right purchase
    15. 15. Disruptive Innovation Anyone can find a good deal!  Online world changed the way we buy – personally and professionally  Buyers – not sellers – are in control  No more global boundaries, you can buy from anyone at anytime  Improved tools for comparison shopping, naming your price, etc.
    16. 16. Impact on Procurement 1. Employees are skilled bargain shoppers  They bargain shop in the personal lives 2. Employees are “experts” on what they need to get their job done  They know what they need and who niche suppliers in the particular area 3. Procurement does not have to be involved in every single ad-hoc purchase  Employees can buy from any source through the process
    17. 17. Innovation 3Notify the right people to prevent overspending
    18. 18. The Status Quo Too little, too late information  Hard to access, disjointed data  Manual processing to calculate key metrics  Received once action has already been taken
    19. 19. Disruptive Innovation Real-time data means real-time results  Faster access to data necessary for smarter business decisions  Instant access lets you know what is happening at that exact moment  Proactive, customized alerts keeps you abreast of important things as they happen
    20. 20. Impact on Procurement1. Be in the know in real-time  Email and mobile budget and spend alerts2. Understand consequences BEFORE taking action  Know the budget impact before you decide to approve3. Stay on track and on budget  Predict spend based on historic trends
    21. 21. Innovation 4Educate employees as they buy to increase compliance
    22. 22. The Status Quo Policies are created, but often ignored  Published in paper manuals or company intranets  Information not easily accessible during purchase  Employees are trained once
    23. 23. Disruptive Innovation Empowerment, not only enablement  E-Procurement empowers users beyond just filling out a form  Use the process as a chance to educate employees on how to buy and from where to buy  Get end-users involved in providing feedback on suppliers and product quality
    24. 24. Impact on Procurement 1. Employees are educated as they buy  “How to buy” policies are accessible WHEN they buy 2. No more excuses for not knowing  Inline alerts let users know if they are missing information 3. Share your experience  Automated requests encourage users to share their feedback
    25. 25. Innovation 5Integrate and collaborate between systems
    26. 26. The Status Quo Procurement has e-procurement, accounting has ERP, employees have order forms, etc.  Multiple, disparate systems  Limited ability to work across departments  Forces manual intervention
    27. 27. Disruptive Innovation Faster, easier, cheaper integration  More common, compatible platforms and technology  Out-of-the-box system connectors  Open APIs for integration with key systems  Automatic data flow between systems  Users continue to use existing systems with little disruption
    28. 28. Impact on Procurement 1. Eliminate the need for manual rekeying of data  System synching automatically passes information from system to system 2. Continuous information and process flow between departments and systems  Customizable business rules, approval workflows, invoice tolerance matching, etc. 3. Accelerate the time to value in other investments  Extend the power of your existing systems through integration
    29. 29. Innovation 6Demonstrate real results and value
    30. 30. The Status Quo Procurement is a necessary function, not a strategic asset  Spending-centric vs. savings-centric  Things HAVE to be bought for business  Use it or lose it planning and budgeting
    31. 31. Disruptive Innovation Procurement is critical to company success  Procurement has the power to drive real efficiencies and savings  True process automation with flexible workflows for quick changes / corrections  Data / feedback to identify the best suppliers, terms and deals  Greater visibility and control to eliminate wasteful, unapproved maverick spending
    32. 32. Impact on Procurement 1. Procurement is focused on savings – not spending!  New tools, resources and insights narrow in on where savings can be obtained 2. Real-time process management and changes  Easily add / remove people from workflows or change limits based on roles, responsibilities and behaviors 3. Comparative benchmarks  See how you stack up to similar users, other companies and the competition
    33. 33. Innovation 7A single platform for controlling all indirect spend
    34. 34. The Status Quo Purchases are managed through one system, expenses are managed through another  Unable to get view of all spend against a specific budget  Have to rely on finance to provide spend insights  Two separate systems to pay for, two separate systems to maintain ?
    35. 35. Disruptive Innovation Multi-tenant, cloud computing platforms  Support multiple roles, workflows and applications through a single platform  One line of code means always the latest release and innovations  One platform equals one database for comprehensive reporting  One system for users to access, one process for approvers to manage
    36. 36. Impact on Procurement1. One system to drive 100% budget compliance  Purchase requisitions and expense reports managed from a centralized system2. Consistent user experience  Same easy-to-use interface for requests and approvals3. One system to maintain  One system to upgrade, keep information current and to train employees on
    37. 37. Innovation in Action Demo
    38. 38. Summary  Innovation is key to improving and moving forward  7 recent innovations have radically changed procurement 1. Take the best from Web 2.0 to drive adoption 2. Leverage the power of the crowd to save even more 3. Notify the right people to prevent overspending 4. Educate employees as they buy to increase compliance 5. Integrate and collaborate between systems 6. Demonstrate real results and value 7. A single platform for controlling all indirect spend  Move to the cloud to get the latest and greatest  Cloud technologies make it possible to stay up-to-date without upgrade or IT headaches
    39. 39. Q & A
    40. 40. THANK YOU!Rob Bernshteyn Mark CarltonChief Executive Officer Director, Solutions