Spend Analysis '05: Are you best in breed?
Staff -- Purchasing, 10/21/2004 2:00:00 AM
In the Day 1 keynote session of its recent online Global Procurement Conference (aired Oct 13-14, 2004), PURCHASING invited winners from its 2004 Super Spend Analysis competition to speak in detail about their programs. At the same time, PURCHASING kicked off its 2005 Super Spend Analysis competition, inviting all companies to assess their expanding spend analysis capabilities and decide if they too deserve to be ranked among the very best.
The 2004 winners won because they go beyond simply capturing spend data from ERP or transactional e-procurement systems and making periodic, backward-looking reports available to commodity strategists or sourcing teams. The 2004 winners are companies that capture up to 80%-100% of total corporate spend; create dynamic, frequently refreshed views of spend; emphasize forward- as well as backward-looking information; minimize costs of spend analysis using automation; supplement internal data with rigorous market research, and deploy spend analysis capabilities in context of strategic, process- and metrics-intensive approaches to managing corporate spend. Are you one of these companies?
Nomination forms for the 2005 contest are available for download at www.purchasing.com. Also available at purchasing.com is an on-demand version of the Web presentation featuring last year's winners.
PURCHASING will recognize new competition winners in its March 17, 2005 issue. Key evaluation criteria will be:
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Degree of spend control achieved, either through total spend or in specific categories;
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Speed and efficiency of process;
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Return on investment (people and processes as well as technology deployed);
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Innovation in acquisition, classification, analysis, and deployment of data, and
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Validated cost savings.
Nominations can be made only by purchasing departments and must be signed by the organization's top procurement executive. We do not require that the process be complete. It should never be complete. Focus will be on implementations in process over the last 18 months. Nominees must be willing to be interviewed and have data published in PURCHASING. We will announce the winners in PURCHASING and award certificates to the purchasing department winners and their technology partners, where appropriate. If you would like to make a nomination for your team, go to the strategic sourcing channel at purchasing.com. Deadline for nominations is Jan. 5, 2005.
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