We're in the home stretch now... The spend under management (SUM) framework provides executives with a simple outcome-based model to drive the necessary changes in their organization to capitalize on the significant savings opportunities available to most organizations. The benefits of moving to best-in-class under the SUM framework include: Alignment of indirect spend objectives with core financial metrics  Defines and details actual spend at a granular level utilizing robust spend analytics Defines enterprise objectives by...

In Gartner’s recent annual report, they discuss their predictions as to what will have a great impact on procurement and sourcing technology in the coming year and how the market will change over time. One thing that is definitely clear – the procurement and sourcing market is evolving quickly as technology continues to advance. The summary of the report suggests that CPOs, IT leaders, and procurement organizations need to “plan for the impact of virtual...