Category Subject Matter Expertise and Increased Stakeholder Engagement
When procurement and diverse departments join forces, both parties benefit by taking advantage of each other’s strengths. At the ISM Philadelphia Chapter January 2015 Dinner, Source One’s Kathleen Jordan and David Pastore discussed the power of aligning unique indirect spend categories such as Marketing and IT with Strategic Sourcing to uncover clouded value.
Pastore’s conversation expanded his IT & Procurement Collaboration webinar surrounding the gains realized by supplementing internal IT resources with Procurement’s expertise to solve both tech and sourcing challenges. Following a Source One survey in 2012, Pastore explained that 40% of procurement professionals believed they offered “Little to no value” to their organization’s IT practice. Contrary to the beliefs of the 40%, Sourcing’s role in IT purchasing allows a reveal of the true value of contracts. With unclear software packages and complex maintenance agreements, IT experts can inform Sourcing of the intricacies of technical portions of buying decisions while Sourcing uses that insight to analyze agreements and pricing structure.
The same subject matter expertise becomes an advantage in marketing communities. With the help of the Sourcing department, companies are looking to unbundle tactical services used throughout the organization, increase spend visibility, identify and remove duplicate services, establish competitive supplier rates and evaluate ongoing vendor performance in support of Marketing needs. Marketing & Sourcing Collaboration is becoming an essential element in achieving agency value and getting the most out of those relationships.
Contact our experts today to engage your Sourcing department beyond simply processing invoices for IT and Marketing after buying decisions have already been made.