Maximizing Savings Opportunities and Procurement's Strategic Value for CPOs
Saving money is not always about pinching pennies: advanced and data-driven insights enable you to identify real cost-saving opportunities, negotiate...
2 min read
Kristin Schwabenbauer : 8/26/22 1:28 PM
With the NBA Playoffs in full swing, it’s a good time for tax, procurement and finance groups mulling automation improvements to consider taking a page from basketball’s playbook.
Consider the triple threat position - a fundamental driver of success on the basketball court. From this forward-leaning stance, a player with the ball is in an ideal position to execute three moves – passing, shooting, or dribbling – designed to ultimately score points and win the game.
A similar dynamic exists in the software realm, where project teams implementing procurement platforms in tandem with ERP systems and tax engines are ideally positioned to succeed. The best game plans – for winning basketball and successful technology implementations – tend to result from careful consideration of the factors that have the most significant impacts on the endeavor’s outcome from the opening minutes until the final buzzer sounds.
A triple-threat procurement-tax-ERP implementation can yield a hefty return on investment. Realizing this value requires tax, finance and IT professionals on the implementation team to avoid overlooking an essential collection of success factors. The best way to do so is by working through some well-chosen considerations and questions throughout the project planning process, such as:
That’s just a start, as there are several other questions to ask as the project team’s work progresses. I’ll pivot to more of these considerations in a future post.
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