Optimize Maverick Spend with ServiceNow Source-to-Pay & ODS
In the ever-evolving landscape of corporate Procurement, managing spend is a critical factor for controlling costs. Companies that want to enhance procurement operations, mitigate risks, and drive significant savings must pay close attention to how they optimize every dollar. One of the most pressing challenges in spend management is maverick spend; purchases made outside of […]
10 Steps to Lower Product Acquisition Costs with ServiceNow
A common observation throughout my 25 years of supply chain management and consulting, is that even large procurement organizations dedicate considerable time to purchasing low-value items. This is the exact opposite of what is wanted. Your valuable time should be spent on high value tasks.
So how do you reclaim time to work on high value tasks and get support and recognition for that effort? Three steps you can follow are:
I. Identify the low-value low-complexity products/services your plan to target.
II. Optimize the entire process from request through payment. Eliminate as many steps as possible and automate the rest. ODS calls the fully optimized process Touchless Ordering™.
III. Measure the savings and receive credit for your work.