The 6th annual CPO Honors Awards are tomorrow and it is an exciting time for everyone at Ardent Partners! On Tuesday, we announced the complete list of finalists across the seven distinct awards.
As we approach the CPO Honors 2021 Awards Ceremony (click here to register), I wanted to share some of the details and great achievements of this elite list of CPOs, procurement executives, teams, and technologies. Let’s look at the Best Team Performance Award.
Best Team Performance Award: This award is presented to the procurement department that has excelled across the full scope of procurement operations to make a significant impact on overall enterprise results.
The Finalists:
Hudson’s Bay Company
The sourcing team at Hudson’s Bay company pursued a strategic sourcing digital transformation that resulted in the migration of thousands of legacy contracts, spend and process visibility, executive reporting. Additionally, the team achieved 100% adoption (more than 700 active users) of its eSourcing tool and has been able to reduce spend significantly in a very difficult business environment last year through greater access to spend and supplier data. Other details will be discussed at the ceremony.
easyJet
This team award is based on the significant success the easyJet team has had in transforming its contract management has helped Elizabeth and her team increase visibility and drive strategic impact across the business. Other details will be discussed at the ceremony.
Vodafone
To increase visibility from source to pay and improve alignment of buying behavior with spending policies, the company decided to implement comprehensive cloud-based spend management technology. By digitalizing procurement management, Vodafone could improve the user experience for purchasers, increase contract-based spend, and reduce order processing cost. Expansive results including an improved user satisfaction with a Net Promoter Score that increased from a negative figure to +50, following the deployment, a 43% reduction in the cost of order processing, and the placement of 97% of all spend under management. Other details will be discussed at the ceremony.
