Enterprise Performance Management - Data is First Priority

 Original Blog post - https://www.linkedin.com/pulse/journey-procurement-transformation-begins-part-ii-prashant-mendki Procurement transformation journey is complex, cross functional, time consuming and even frustrating at times. The very basic but a strategic step to start this journey is “Spend Analysis”. Again – this has to be done in a right way to get the potential benefits. We talked about that in first part of this article https://www.linkedin.com/pulse/journey-procurement-transformation-begins-part-i-prashant-mendki By definition – Spend Analysis is an analysis of your spend (invoice paid), what items you are spending on (product), who you are paying to (supplier). It looks really simple – no? When I worked with one of the large Media Entertainment company few years back, they had thousands of suppliers, millions of transactions, good amount of Maverick spend. It’s a global business with more than $2Bn in Spend, 12 different global systems. Thousands of trans...

These days everybody talks about cost cutting, increasing revenue, how the depression, recession affecting company margins and how the job losses are imminent and so on and so forth. All this is true and real and no doubt everybody is looking at new avenues to struggle with the numbers. Though there is no magic recipe to alter the scenario overnight, lot of people, lot of companies are failing to see optimization chances within the organization and chance of increasing revenue – data in their own systems. What data – everything – right from suppliers, customers, materials. What to look for – Data Quality. The surveys done by few companies in the area estimated that the by managing the data quality one can increase revenue by 66%. Now let’s take that as marketing gimmick on the face, but then assume its half of that – still there is a chance of revenue increase of 33% - do you want to believe that? I do. My experience with large global enterprises in the data area points me to bel...

Hello Everybody. I was missing the action on this blog since around 4 months now. Actually I was too busy with new data management engagement in my new role. As its a vacation season, its time to gather thoughts and share it..... Hope I will continue... As the title of this blog says "its a time to look at your data, spend data". YES, as everybody is hard pressed for cash in the difficult time like this - where to look for it? I have one answer - Look at your own transactions to see if you can save some there. Lets check what are you spending on, categorise your spend well.Check if you know where you can negotiate with your vendors and go for it. You will amaze to see how you have ignored this point in the past and how much you can save by doing this. My experience tells me that you can get benefit of atleast 5 to 7 % of savings by doing this activity. Wondering how - Keep reading .... Lets make it simple. You have repository of suppliers, and lots of transactions for those s...