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Companies with multiple business units or operating companies are finding it difficult to balance between decentralizing procurement functions and consolidating strategic objectives. While decentralization brings benefits from streamlined procurement operations (“buy cheaper” level of maturity), it also makes it difficult to observe and understand procurement as a whole, to monitor higher level performance indicators and make strategic decisions (“contribute to growth” level of maturity).
To bridge this maturity gap, it’s often not enough to just deploy procurement dashboards and reports. It’s critical to employ an end-to-end procurement analytics solution, capable of managing products and suppliers from disparate sources as if they were a single source of truth, and automating the process of uncovering insights through the application of machine learning models and advanced analytics.
Download the White paper to learn how NEOS Procurement Insight helps get your company spend under control.