Do you feel your procurement organization is always looking behind? Is too much focus on past spend, when you should be looking forward?
Leading businesses recognize the need to analyze levers impacting bottom line performance – while also looking ahead to drive profitability.
See how Kellogg Company turned from backward looking number crunching to value added analysis.
Is your forecasting process based on monstrous spreadsheets shared via emails? Does the data come from many sources and many stakeholders? Does anybody even trust the numbers?
A well-defined forecasting process with automated data integrations enables you to move from strenuous data gathering to deeper insights and analysis.
See how Becton Dickinson slayed the Spreadsheet Monster with a forecasting solution based on trusted and traceable data.SEE VIDEO
No common ground between procurement and finance? Are efforts on creating savings and reducing future spending not even acknowledged by other stakeholders?
Find out how you can align key stakeholders to predict future profitability together in our most popular guidebook with over 10,000 readers “Procurement Loves Finance.”READ GUIDEBOOK
While analyzing historical spend may highlight missed savings opportunities, real impact comes when you predict and react to opportunities beforehand.
Sievo’s Materials Forecasting collects and maintains all your budgets and forecasts in one place. When software does much of the heavy lifting and data crunching, you gain access to more advanced analytics on the real drivers of procurement cost.
Let’s face it, forecasting via Spreadsheets is painful. Files shared and updated over email or Sharepoint are prone to human errors. Once you’ve saved the same file many times it’s difficult to trace back data to a source, or know where potential errors originated.
In Sievo, all forecasts are linked to and based on transaction-level purchasing data. Everything seen on the screen can be explained from the bottom up. This leads to confidence in the whole forecasting process.
Automatic integrations to any data sources speeds up the forecasting process considerably, allowing more time for deep analysis and faster iterations.
If you value the quality of your data and forecasts, it’s time to leave Spreadsheets behind.
There are few things procurement and finance trust more than accurate data. Once you’ve established a forecast process with data you both trust it’s time to take communication and cooperation to a higher level.
With Sievo, forecasts are not tied into process-driven data crunching, but collaborative analysis and action. By isolating savings opportunities from market-driven components you drive more cross-functional actions.
Continuous and relevant input from both procurement and finance ensures the best ideas are brought to the table.
With collaborative Materials Forecasting, procurement and finance work together towards the same set of targets, have one shared version of the facts and figures to discuss on, and deliver results in efficient and transparent way.
Materials Forecasting, it's complicated in nature technically behind the scenes but simple for users to use. That's what we were really looking for. The process cycle time before was about four weeks to do a financial forecast for materials. We're still on four weeks now, but we're so much more value-adding. We're providing so much better insight and analysis.Watch Video
Find out how Materials Forecasting can help you understand and manage the affect direct material costs have on a company's future gross margins and profitability.Read Whitepaper
Indirect and direct procurement vary from each other by their category characteristics and nature. In this article, we will cover what direct material procurement is all about.Read blog