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Find out more about the latest thinking in procurement.
Warren Hallworth our Sales Director answers a few questions regarding tail spend management.
Which of Capita Procurement Solutions offerings are you seeing most interest in?
Whilst our “work-alongside” sourcing support model, where we add either capacity or specialist capabilities to our clients own procurement team remains the main area of interest for clients we have seen a significant growth in interest in our tail spend management solution.
Citi’s Krisztina Jedzinak wins Future Leader Award, partnered by Capita at the prestigious World Procurement Awards 2017
Procurement Leaders are excited to reveal the winners of the 11th annual World Procurement Awards, in association with SAP Ariba.
Over 850 procurement elite came together at the Intercontinental – The O2, London, for the distinguished ceremony hosted by Downton Abbey actor Hugh Bonneville to celebrate procurement excellence and recognise the most progressive teams and individuals in 15 categories from across the globe.
Recognised as the most celebrated and sought after awards in procurement, the World Procurement Awards represent the best projects, people and organisations globally and are an affirmation of the hard work, innovation and dedication of those at the forefront of the profession.
This year saw a record number of entries from some of the most influential companies across 34 countries. Each submission endured the rigorous 3-stage judging process of online judging, peer review and face to face regional debate to ensure the winners are the best of the best. The panel of judges included CPOs and senior representatives from Brose, Ferrero, Danske Bank, Diageo, Hewlett Packard and Flex. Andreas Ruehe, VP Global Supply Chain at Johnson & Johnson commented that he had "Definitely been impressed by the quality of the entries” this year which once again exceeded expectations.
Congratulations to all the winners and finalists, and thank you to everyone who entered, your entries were truly a testament to the spectacular progress that is thriving within the function.
To find out more about the Procurement Leaders World Procurement Awards, visit: www.worldprocurementawards.com
Embedding the Ivalua platform into Capita Procurement Solutions shared service offering.
Ivalua, the leading global spend management solutions provider, announced today it has entered into a partnership with Capita Procurement Solutions, part of Capita plc.
“We’re excited to welcome Capita Procurement Solutions into the Ivalua Global Partner Network. Our close alignment in terms of solution focus and the business challenges we solve has been a perfect fit for partnering with Capita Procurement Solutions. Both our companies have the goal to transform procurement services, drive innovation and efficiency, release working capital and realise procurement savings,” says Gérard Dahan, General Manager.
The objective of this partnership is threefold:
- Resell: ability to resell the Ivalua platform directly to the market.
- Services: as part of Ivalua Partner Program. Capita Procurement Solutions will deliver Ivalua projects as an implementation partner providing an extra level of expertise and value to Ivalua customers to help accelerate projects delivery and success.
- Shared services offering: Capita Procurement Solutions will embed Ivalua’ spend management platform to its business process outsourcing and shared services offering, and offer it to both its new and existing customers. This alliance will enable Capita Procurement Solutions to offer Ivalua Spend Management solutions portfolio including Supplier Relationship Management (SRM), Contract Management, Strategic Sourcing, Procurement and Spend Analysis tools to its UK customer base.
Partnering with Ivalua is an example of Capita Procurement Solutions commitment to providing its customers with innovative, industry leading procurement services. Working with Ivalua strengthens its product portfolio for key market sectors and allows Capita to offer its clients an industry leading offering.
“When we were looking for a Procurement technology partner, Ivalua was the most suitable provider in the market. Its ability to match our service model to the depth of functionality and breadth of coverage, its innovations and understanding of the UK market provided the partnering alignment we strived for. We are excited to team with Ivalua in offering a leading-edge technology that will help our customers drive Procurement efficiency and deliver more savings” says Lee Cotsford, Executive Director, Capita Procurement Solutions.
Bekki Peters, British Gas, wins Future Leader Award, partnered by Capita, at the renowned World Procurement Awards 2016
Procurement Leaders are delighted to announce the winners of the World Procurement Awards 2016. Last night the Awards 10th anniversary ceremony at London’s prestigious InterContinental Hotel, The O2, was attended by over 900 procurement elite; brought together to celebrate procurement excellence and the innovation and progressiveness that has taken place within the function over the past year.
World Procurement Awards represent the largest annual gathering of global, senior level procurement professionals, and are dedicated to rewarding and recognising the best initiatives, individuals, and companies from across the world. The Awards are an affirmation of the dedication, diligence, and dynamicity of unique, forward-thinking procurement leaders.
The hundreds of entries that we received exceeded previous years both in terms of quantity and quality; a record number of entries came in and our expert judging panel-including CPOs from Brose, BT, Cancer Research UK and Ericsson were astounded by the exceptional standards.
Mark Reed, CPO at AARP and World Procurement Awards judge commented, “I am absolutely blown away by the quality and breadth of the submissions this year. The number of submissions has ballooned, and I’m absolutely amazed by the things that some of the organisations who are members of Procurement Leaders are achieving, it’s incredibly inspiring.”
Congratulations to all the winners and finalists, and thank you to everyone who entered. Your entries were truly a testament to the spectacular progress that is on-going within the function, and we look forward to seeing you again next year.
You can find more information at www.procurementleaders.com/awards
Capita provides fully integrated procurement models to deliver savings and drive value across the supply chain.
Following significant growth and feedback from our client base, we are delighted to announce the opening of an additional Tactical Procurement Centre in the UK to compliment our wider service offering.
While the level of spend under contract varies by sector and category, in most organisations at least 50 per cent of all third party spend is governed by contracts, or legally binding agreements between the parties to offer – and accept – goods or services.
Despite this, many organisations do not have clear contract management practices or roles and responsibilities, with supply chain relationships being managed in an ad hoc and sporadic fashion. Best in class contract management arrangements involve the continuous evolution of the contract, building and sustaining excellence within client-supplier relationships and an ongoing assessment of whether the terms of the contract and service delivery mechanisms are right for both parties.
A significant amount of spend falls under the procurement radar as it is made up of low frequency small payments that companies usually make to many different suppliers.
Best practice in corporate procurement is typically reserved for companies’ strategic purchasing. Greater savings are expected from tackling larger areas of spend, which comprise the majority of a company’s buying.
Transactional procurement and low value purchasing, known as tail spend, is estimated to make up half of a company’s indirect and direct spend.
Having the right kind of relationship with your suppliers can lead to better cost analysis and market intelligence, and a more sophisticated sourcing strategy.
Without rigorous contract management and supplier relationship management (SRM), much of the original value from sourcing activity can disappear rapidly after the letting of new contracts. Considering the effort invested in gaining benefits from sourcing, it seems strange to let this value be eroded over time, rather than reinforce it and build greater value as the contracts progress and mature.
Procurers who are leaders in their field understand that professional contract management and SRM can deliver both incremental benefits and cement those already achieved.
Successful contract management can deliver significant value to your organisation. Having the right tools and processes in place can have a dramatic impact on your ability to manage contracts efficiently and effectively.
Research has shown that up to 75% of the savings created from new contracts can be lost within the first 18 months without strong management arrangements in place.
Much is being talked and written about the ways data can be used to drive efficiency, reduce costs or acquire and keep customers within an organisation. But there is another way in which data can really help businesses make things better; data of the right sort can radically improve the return on purchasing goods and services.
Good cleansed data can drive a more strategic view of procurement, enabling informed decisions to be made earlier in the procurement lifecycle. Without it a business can, for example, view total spend in a very siloed way but not truly understand the size of cost saving opportunities that exist. Opportunities can include price variance, consolidation, contract terms, payment discounts or duration right through to simple purchase to pay efficiencies. But without accurate and more importantly cleansed granular data, or even the assurance that the data you do have is all it should be in terms of compliance, senior stakeholders will not be able to accurately advise the board on the financial implications of all purchasing decisions.