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GET ACTIONABLE INSIGHTS

With Sourcing Insights, benchmarking is a service. Your spend and market data is refreshed and expanded on a regular basis. Spend data is automatically classified and cleansed for benchmarking. Say goodbye to manual operations because Sourcing Insights solution handles of all the data operations, creating a turn-key environment for new benchmarks.

Through our powerful technology, SourcingShark, you’ll be able to leverage data from hundreds of billions of dollars in realized transactions and leading third-party data sources. You can use this valuable data to compare procurement performance across industries, relevant peer groups, or geographies.

How procurement performance management works

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    Identify

    Develop and cultivate a list of all procurement improvement opportunities in one place, regardless if you are harvesting savings, reducing risk or increasing improvements, in one place.

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    Align & Assign

    Align opportunities with internal priorities and decide event sequencing, easily reprioritize projects based on changing needs. Assign procurement, finance, risk, legal and business resources to projects and events to ensure appropriate involvement from relevant stakeholders. Forecast project financial and non-financial goals and agree on priorities.

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    Track

    Update projects and activities as progress is made. Ensure latest updates are available to management and stakeholders. Focal Point ensures the latest financial and non-financial benefit forecasts are available for publication to interested parties. Collaborate with stakeholder to maintain alignment and priorities.

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    Complete

    Upon completion, Focal Point allows users to calculate the financial benefits broken down between Cost Avoidance and Cost Reduction for both one-time and run rate purposes. Check off achieved project goals were achieved as well as accomplished non-financial project benefits.

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    Measure

    Focal Point will be able to delineate benefits by department, geography or operating company, depending on how your procurement organization reports their numbers. Distribute project feedback surveys to measure stakeholder satisfaction and feedback/ Have a comprehensive view of ROI from the entire company down to project level.

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    Communicate

    With an aggregated and detailed view of projects, goals, benefits, client satisfaction and time spent on projects Focal Point makes it effortless to create and distribute stakeholder updates based on achieved and in-flight activities as well as forward looking projections for stakeholders, departments and executives.

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