Join Ardent Partners’ Chief Research Officer, Andrew Bartolini, and special guests from BuyerQuest and Kimberly-Clark in an exclusive webinar on Wednesday, September 27th at 2 PM ET, sponsored by BuyerQuest, where they will discuss the Best-in-Class strategies to improve spend management. Click here to register!
Spend under Management refers to the percentage of total enterprise spend (which is comprised of all direct, indirect, and services spend) that a procurement organization manages or influences. The percentage of spend under management at the average enterprise remains relatively flat at 61.2% in 2017. After many years of consistent growth, the industry’s all-out drive to place more spend under management has started to slow with more and more procurement organizations seemingly satisfied to manage around 60% of total spend. Only 16% of all Chief Procurement Officers (CPOs) are focused on increasing this number over the next three years.
While there is no guarantee that managing more spend will result in superior performance, Ardent Partners research has consistently shown that the procurement groups that manage more spend report superior performance across most other key metrics. Ardent Partners research also has shown that for every dollar that is placed under management of the procurement department, the average enterprise sees a benefit of between 6% and 12% during the first contract cycle. Luckily, Ardent Partners and BuyerQuest have some strategies and tips to improve spend under management and help CPOS and other procurement leaders convert it into real value. Join Andrew Bartolini, Chief Research Officer at Ardent, Matthew York, Research Analyst at Ardent, Kyle Muskoff, VP of Product & Services at BuyerQuest, and Chanin Styka (Kimberly-Clark) on this free webinar (click to register). Attendees will:
** Learn many of the top strategies used by the Best-in-Class to place more spend under management and manage it better
** Gain insights into how to turn spend data into actionable intelligence
** See how procurement teams can leverage their systems and processes to centralize control and improve compliance
** Gain a free copy of Ardent Partners’ State of Procurement 2017 report
Strategic Spend Management: Best-in-Class Strategies for CPO Success
Wednesday, September 27 at 2 PM ET
Featuring Andrew Bartolini, Kyle Muskoff (BuyerQuest), and Chanin Styka (Kimberly-Clark)
Sponsored by BuyerQuest
Tagged in: Ardent Partners Research, Ardent Team, CPO, Events, Innovation, P2P, Process, Solution Providers, Source-to-Settle, Strategy, Technology
