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Taking back control of services procurement

Services procurement

Professional services is not the sexiest of categories. As a result, it isn’t necessarily a priority for many CPOs.

 

Spend here is not insignificant and has the potential to get out of control pretty quickly if rules and processes are not followed. Within the services category, you can have consultants and their expenses as well as temporary workers, all of which can add up.

 

The challenge for CPOs is that category managers in this area are usually responsible for a number of different areas. From consultants and temporary workers, they also look after spend on legal, tax and accounting services.

 

Manage the category correctly and big savings could open up. There are a number of ways in which procurement chiefs can maximise these opportunities, which will be discussed in more detail during an upcoming webinar – Get ready now for the next generation of services procurement, partnered by Globality.

 

Procurement executives should consider the following improvements:

  • Dedicated category managers: Employ staff who can focus on this category alone, rather than spreading themselves across a number of different areas. This will enable them to identify new savings opportunities quickly. However, they must be more than category experts. They need wider business skills to help them talk to stakeholders and embed the right processes across the business.
  • Implement the right technology: Tools can help buyers streamline and analyse spend. Take expenses, for example, a dedicated tool for booking travel can help ensure such policies are adhered to.

The longer this category is ignored the harder it will be to reign it in. Taking action now can deliver savings and value at a time when the pressure is ramping up to make savings in every possible area.

 

Taking these steps can help you get the control you need. Don’t wait.

 

Procurement Leaders will be hosting a webinar partnered by Globality: Get ready for the next generation of services procurement.

 

We will be looking in detail at:

  • Key tactics to optimise your mix of talent, tools and process in services procurement.
  • Examples of where an innovative approach can create value in key categories.
  • The impact of economic and technological trends in this area and how to adapt.

To register, click here


This article is a piece of independent writing by a member of Procurement Leaders’ content team.

Sophie Dyer
Posted by Sophie Dyer

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