2nd Secret to Successful eProcurement: Define your procurement strategy & build vision statement
Thursday, 7 Jul 2016
Do you have a clear vision for e-procurement?
That might sound a little grand, but having a vision – and writing it down – is a critical factor for your procurement strategy.
Product Marketing Manager
A well-articulated vision gives you something tangible and objective against which you can judge your actions.
An organization that can clearly articulate their vision for e-procurement is far more capable of building consensus among stakeholders – and of rallying their support, if needed.
To be clear, your procurement strategy statement doesn’t have to be complex or long-winded. In fact, shorter is probably better. A single paragraph expressing the scope of the project, together with the benefits it will deliver should suffice. Remember to include the ways in which stakeholders who are outside your procurement and finance departments will benefit.
Here are some key questions your vision statement should answer:
- Can we make the move in stages or must it be all or nothing?
- Are we delivering the greatest value to the business?
- Do we have the involvement of the right stakeholders?
- What should the program cover – and not cover?
So your vision statement for your procurement strategy might look something like this:
“This program will deliver measurable value to our company by rolling out best practice e-procurement and by supporting the purchase-to-pay process. It will improve visibility, control and collaboration across
our organization and our supply base.
In particular, it will help divisions of our company to reduce overhead and maximize return on spend and investment. We will achieve this by aligning the resources and processes of our suppliers, Procurement, Finance and the lines of business.”
Keep in mind that your vision isn’t just valuable at the outset of your e-procurement project. As a foundation for what comes next, it will be instrumental throughout your procurement strategy rollout.
Want to learn more about how you can ensure the success of your e-procurement project?
Read our how-to guide for making e-procurement work for your business: 7 Secrets for Successful e-Procurement ›