Procurement Transformation by CPOs Who Think BIG
The theme of this week’s Procurement Leaders East Coast Forum in Boston is Next Generation Capabilities to Drive Value & Performance. Among the topics sure to be key to achieving next generation capabilities is the potential of big data analytics: bold, overwhelming, and transformational.
The thing about big data analytics – a trend that is largely technology driven – is that it can not connect to the strategy and heartbeat of the organization without someone actively applying its advantages to the opportunities at hand. Fortunately for the field of procurement, there are a growing number of action-oriented CPOs thinking big in terms of their data and their results.
Over the last two years, tealbook has had amazing opportunities to work with innovative procurement organizations and leaders. Our customers work in small and large companies alike. Some have been CPOs for years while others are doing an impressive job working their way up the procurement chain of command.
Despite their differences, all of them are visionaries and progressives. They are not afraid to push the status quo in order to increase the efficiency of their team and organization. Our customers don’t consider it acceptable to waste time searching online for new suppliers or spending hours (or even weeks!) centralizing supplier information. They know accessing better supplier intelligence up front will not only benefit them, but will help propel the whole business forward at a faster pace.
tealbook’s customers are enablers, not bottlenecks. They are looking for ways to share information and increase visibility, not for a minute holding back intelligence because they view collaboration as being at odds with competitive advantage. They want to grow collective intelligence, not suppress it just because it might be easier to manage.
They want their team to access the best supplier partners instantly. They are focused on increasing value and saving millions of dollars for their company while also exceeding expectations in all other important metrics such as innovation, supplier diversity, internal partnerships, and contribution to top line growth.
Whether our customers are at the top of their game today or are in line to become a top new CPO tomorrow, they are all ahead of strategic trends, not standing back waiting to see progress led by others.