How we put the power behind procurement to deliver value to Accenture
November 15, 2021
I’ve worked in procurement for the majority of my career, and I’m extremely passionate about the future of the function, and how we transform the function in Accenture to be an industry benchmark. The future of Procurement is not only one that is all about cost containment, but also about finding that delicate balance between matching what the business needs with right suppliers. At a minimum, the suppliers need to balance the offer of the right price, quality and value with their ability to partner with Accenture on our innovation and sustainability agendas. It takes collaboration, teamwork—and lots of data—to get there.
In our latest case study, we explain how our organization has standardized, simplified and automated the elements of traditional procurement to create a frictionless buying experience. It not only puts us on a fast track toward enabling intelligent procurement, but also means we’ve saved US$51M in annualized working capital as of fiscal year 2021, reduced request-to-order time by 50% and reduced invoice approval time by 30%. If you’re interested in how we achieved those numbers, and how doing this sets us up to deliver greater value to Accenture’s business, then read on.
Our Procurement Plus organization—where the “Plus” reflects our shift in delivering value above and beyond what is expected of traditional procurement—recognized the need for us to be more data driven in analysis, information tracking and decision making.
Our focus is to deliver value and here’s the four-step journey we defined to get us there:
We know that the data and analytics we uncover as we progress along the intelligent procurement journey will help us to be better at managing the whole procurement life cycle. But more than this, it helps us to improve that vital factor in any project’s success—the customer experience.
Delivering a buying process that is more automated and easier means we have been able to sell our business stakeholders on how P+ can offer the next level of service and elevate the value of a Procurement function.
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