Achieving Proactive Spend Management Capabilities Through Adaptive Intelligence

“Progressive business intelligence in key areas such as Spend Management should not only tell you where you have been, but also where you are or where you should be going on an adaptive basis . . . think of true business intelligence in terms of a GPS system that can provide updates on current road and weather conditions in real-time.  With this level of adaptive intelligence we are no longer confined to a static understanding of historic events, but are instead able to respond to the dynamic nature of an increasingly globalized supply chain.”

The above is an excerpt from my 4-part seminar series The Changing Face of Procurement.  It also happens to be the opening comment from my latest white paper titled “Achieving Proactive Spend Management Capabilities Through Adaptive Intelligence In Real Time” (see the Interactive Viewer below to access the paper in its entirety).

What is interesting about the statement or observation is that it was introduced in 2005, when spend data (it wasn’t quite intelligence back then) like purchasing itself was seen as an ERP adjunct.  Specifically, information regarding spend was culled from the static realms of a financial ERP, and was usually so daunting of a task that after going through onerous cycles the information that was eventually provided was outdated and largely irrelevant.

Going back even further in time to 1998, when I first considered the possibility that the timely access to data which could then be applied in real-time to effect meaningful results was indeed a viable pursuit, there were no clear road maps as to how this would be achieved.  Let alone the availability of a production environment model (re working application or solution).

However like time, insight ultimately moves forward toward tangible innovation.  Innovation which in turn leads to a practical real-world solution that meets and even surpasses the expectations of the original vision.

While Discontinuous Innovation is the term most frequently applied to such advancements, it is in fact the simple practicality of the breakthrough itself that eventually captures mainstream attention and ultimately gains acceptance.

Based on extensive research, Zycus Spend Management Solutions today epitomizes that original idea and ideal associated with a proactive versus reactive spend management capability.

This white paper explains how they do it from a conceptual perspective, and why the practical outcome is important to your organization.

As always, your comments and questions are welcome.

Interactive Viewer

Zycus Spend Management Groups Now Available To New Members

Focusing on the results that spend management technology can achieve rather than just the technology itself, the Spend Intelligence Resource Group’s objective is to identify through the collaboration of its members, the best practices that will lead to the tangible gains associated with maximum user adoption, sustainable savings and reduced cycle times.

Sponsored by Zycus, and through the collective efforts of its members, the Spend Intelligence Resource Group will serve as an important “knowledge hub” in key areas such as Procurement Intelligence, Supplier Performance Management, Best Practices in Risk Management and Spend Visibility.

Use the following Link  to join the Spend Intelligence Resource Group