Why ‘no-go’ areas are no more
In Boston, USA – Here at the Aberdeen Group CPO Summit there has been a lot of talk about ‘spend under management’ – the amount of money looked after by the procurement team – being one of the critical denominators of those companies that are world-class.
But there is less consensus about how to achieve getting as much spend as possible under control. While access to certain categories has increased, different companies have tackled different areas with nobody able to control everything.
Roy Anderson, the new CPO at bank State Street, joked about his decision to make legal spend one of the first areas to tackle when he joined the company, to prove his new strategy could be accomplished in any part of the business.
The key for buyers is to learn from the experiences of others. If the profession concentrated its knowledge and experience, I doubt there would be a spend category that hadn’t been infiltrated by procurement. And then it would just be a matter of applying and adapting the successful techniques in practice.
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