Zycus recently published a really interesting study on what works best to drive high-performance results in procurement transformation – aka savings of 30%+ attributable to effective spend management practices. The number one enabler for high performance, in achieving contract and process compliance identified in the report was “monitor and report!” In other words, buyers that track compliance and share the results with affected parties are the ones most likely to achieve significant savings.
I have to admit, this finding makes a ton of sense. People are sensitive to numbers, and exposing trends, whether good or not, to the people that have the power to make changes, can really work. We use this tactic to manage deliverables all the time at Gartner, because most analysts work from home and a hovering management style isn’t possible.
For this lovely and useful Zycus report, “Driving High Performance Procurement Initiatives,” see: http://www.zycus.com/resource-centre/Research-Report2011-lp.html. Happy Holidays!
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