Gartner Research

Establish a Savings Management Process to Drive Procurement's Financial Performance

Published: 17 July 2013

ID: G00246954

Analyst(s): Magnus Bergfors

Summary

Savings is one of the key metrics for procurement departments. Despite this, many companies struggle with managing a savings pipeline and reporting credible savings numbers. This research helps procurement, finance and IT leaders create a savings management process and select a tool to support it.

Table Of Contents
  • Key Challenges

Introduction

Analysis

  • Obtain Agreement Between the Procurement and Finance Departments
  • Create a Process for Savings Management, Including Assigned Responsibilities and Accountability
  • Select a Tool With Enough Flexibility, Workflow Capabilities and Data Integration Possibilities to Support Savings Management

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