Category Management

How Procurement Can Enable Insurance Companies to Deliver Value to Claims Management

Posted: 08/22/2020 - 02:36
Procurement’s key metric is vendors’ value contribution, not cost.

At U.S. insurance companies, policyholders’ claims represent 70% to 75% of the total cost. This makes complete sense, of course, since policyholder benefits are the sole reason why anyone buys insurance products and services.

The problem is, at insurance companies, procurement is limited to supporting indirect spend — real estate, marketing, finance, etc. — which accounts for less than 10% of the organization’s total costs and severely limits our ability to provide substantive value.

Reconsidering the Services Category for eAuctions

Posted: 08/18/2020 - 23:44
The Total Cost of Ownership factors.

It is amazing the differences there are culturally to the concepts of eAuctions and their widespread adoption. In Europe, eAuctions have been adopted by most organizations and are considered an integral part of the strategic sourcing process. But in North America there remains quite a bit of skepticism and doubt about not only adopting the practice, but which categories are the best candidates to benefit from this strategy.

Strategies to Drive Procurement Compliance and Manage Rogue Spend

Posted: 06/01/2020 - 21:54
Procurement Compliance and Spend Management

Compliance is a critical purchasing success factor. Aside from the tremendous amount of financial impact, compliance has other positive outcomes. When employees comply with purchasing through designated supplier programs, it significantly streamlines the supply chain, allowing your organization to be agile and flexible.

Commercial Real Estate Optimization: Taking an Operational Perspective

Posted: 10/30/2019 - 03:01
Commercial Real Estate Optimization: Taking an Operational Perspective
Corporate real estate is often one of the largest single categories of spend relative to a company’s revenue and budget, but many organizations view it as a cost to be managed and mitigated rather than a strategic opportunity to align the footprint with business growth and operational expectations and to increase the overall enterprise value of the business.

Innovations in Talent Management: FedEx

Posted: 08/21/2019 - 06:41
Innovations in Talent Management: FedEx

Can you outline why your team embarked on this project and the problem that needed to be solved?

The Sourcing Playbook is a set of flexible, standardized templates with accompanying training for certain critical deliverables within FedEx Services Sourcing & Procurement’s Sourcing Methodology (sourcing process).
 

10 Ways to Find Savings Through Analytics

Posted: 07/09/2019 - 06:48
Businesses need faster and more comprehensive spend management solutions, without the need for additional subject matter experts. To this end, our clients have benefited from improvements in insight and service delivery using 4C’s analytics platform 4Spend. Here are ten ways in which new savings can be found using analytics. 
 
1.) Categorisation and Benchmarking 
 

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