Digital Solution Navigator
Big data analytics is the process of evaluating a range of data sources for decision-making and process optimization purposes. Although it is becoming increasingly important and is paving the way for significant competitive advantages, it is really just one example of the potential opportunities that digitization brings to procurement.
We specialize in procurement and supply chain management, and we can support you in achieving digital excellence for your procurement processes. Our Digital Solution Navigator guides you through the increasingly complex landscape of digital tools and identifies the solutions that meet your requirements. We help you to evaluate how mature your procurement really is, to set goals, and to implement digitization projects.
Philipp Mall is a principal at INVERTO, based in Cologne. As Head of the Competence Center Procurement Management, he is an expert in the areas of procurement organization and controlling, as well as in risk management and digitization. He is responsible for the annual risk management study.
INVERTO: supporting you toward digital procurement
Digitization is a long-term process that involves more than just one development stage. But if the right measures are selected, it offers countless opportunities for fast and effective results. The first question is where to start and which approach is most suitable for your company structures. As there are no one-size-fits-all solutions, we have developed the Digital Solution Navigator to identify the optimal solution particular to your circumstances.
We provide methodological support to identify meaningful digitization steps, develop a strategy, and select the appropriate software solution. Our many years of experience with digital solutions for procurement and supply chain management enable us to break the huge range of tools down into specific application areas and give you the best possible overview.
Your path to digitizing your procurement:
- We look at 14 application areas and define procurement goals to analyze the extent of your digitization maturity.
- We create an overview of the digital tools available on the market.
- We identify the appropriate tools to boost efficiency and increase the value created by your procurement.
- We carry out a cost-benefit analysis, comparing the created value with implementation costs.
- We develop a strategy (or roadmap) for your path toward digitization.
14 application areas in procurement, with digital tools available in all areas
Analytics & collaborations
1. Advanced Analytics
Spend analysis/forecast across heterogeneous data sources AAAAAAA AAAAAAAA AAAAAAAAA
2. Category-specific Supply Know how
Category specific value via market intelligence and advanced analytics
3. Sourcing collaboration platforms
Knowledge platforms to facilitate team collaboration across teams AAAAAAAA AAAAAA
4. Cost & Value Analytics
Big data based calculati-on support should cost modeling/benchmarks
5. e-Sourcing Accelerators
Solutions to simplify, automate and enhance commercial interactions (eRfP, e-acutions,…)
6. Supply Network Platforms
Networks to facilitate consolidated buying and sourcing among qualified business partners AAAAAAA
7. Tail Spend / C-Parts Management
Simplified direct user interaction on catalogue purchases/tail spend
Performance & Integration
8. Procurement Performance
Automated score card with KPI measuring Procurement performances (e.g. savings)
9. Supplier Performance
Automated score card with KPI measuring Supplier performances AAAAAAAAAA AAAAAAAA AAAAAA
10. Real Time Risk Management
Threat monitoring intelligence platform, automated early warning systems
11. Innovations/Idea Platforms
Dedicated exchange on supplier innovation/ technology scouting
12. Process Automation (RPA)
Automated triggering and execution of routine processes (AI-based)
13. P2P Integration / Process Performance
Digital tools to en-hance P2P processes and workflows AAAAAAAAA AAAAAAAA
14. Contract / Compliance Management
Contract automation with tracking, alerts and analytics
Advanced Analytics (point 1) and e-Sourcing Accelerators (point 5) are two fields of action that offer good starting points for digitisation. Learn more about how advanced analytics or the use of e-auctions in conjunction with game theory can significantly improve your purchasing.
Do you have any questions about the digitization process for your procurement?
Philipp Mall would be happy to answer your questions about digitizing procurement