March 14, 2017

How to Break the Data Silos

Break Data Silos

Buyers have a rather varied set of activities: managing negotiations, orders, invoices, stakeholders…

These activities all have something in common: suppliers.

Yet all the information you need to perform these activities is scattered throughout many “systems”: an eProcurement tool, an ERP, an SRM application, a gazillion excel files, your inbox… or your brain.

And all this information needs to be put in perspective to devise the best possible solution on the course of action and, simply put, have good relationships with suppliers.

But this is currently not possible or tedious, at best, because information resides in silos. Each one of the “systems” mentioned above is a silo.

 

Current state = data silos

For 30 years, we’ve been promised integrated solutions that would cure that pain. And what do we have? ERPs!

This was true in the past with accounting, MRP, CRM, you name it. This is still true today with Procurement.

Monoliths are not the right solution. If you look at the story of ERPs or “integrated” solutions, they’re generally the result of many acquisitions. What is advertised as integrated is a mere patchwork of solutions bundled together and struggling to talk to one another behind the scenes.

They were supposed to collaborate, but they failed miserably.

This “Everything under one roof” label is just lipstick on a pig.

 

Enter the modern world of interconnected solutions

As a wise Procurement person, you have made to choice to choose a modern SRM solution that lets you manage the end to end supplier life-cycle and a pipeline and savings tracking tool.

Wouldn’t it be nice if they talked together?

Imagine: you have finalised the quarterly campaign to collect stakeholder and suppliers feedback. It turns out that one key supplier not only has bad quality marks, but is also not behaving in the most constructive way with your stakeholder. Yet, they represent a sizeable chunk of your spend in that category.

It is high time you found an alternative.

In 1 click, you’ve just registered the sourcing project in Per Angusta and everything has been carried over from HICX: incumbent supplier, category and spend information… The buyer just has to evaluate the potential savings and plan when the project will take place.

And once your project is completed and the supplier awarded, with the click of a button, he receives an on boarding link to fill-in all key information.

Easy, isn’t it? This is actually happening, today, with the partnership between HICX Solutions and Per Angusta.

And you will get the same benefits to detect and manage supply risk, put more spend under coverage, and many more scenarios where best-in-class, properly integrated solutions, will save you a lot of headaches and bring tremendous value.

by Grant Watling

Chief Customer Officer

Grant has 11 years management consulting experience specialising in supplier data and analytics advisory services. Grant holds a Master’s Degree (MSc) in International Business, is a Prince2 practitioner and holds certificates from the Institute of Financial Services and the Chartered Insurance Institute.
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