Sievo Calls On Procurement To Broaden Analytics Horizons

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They say “you’re biggest competitor is yourself.” In corporate finance, though, it may not pay to look at financial performance in isolated fashion.

In procurement, companies tend to measure their performance against historical, internal data. Common trends include how much companies are spending with suppliers, which suppliers they’re using and where they’re doing business, then comparing those metrics to previous months’ and years’ data.

However, the power of data analytics is growing as more enterprises become familiar with its potential to look ahead, look behind and look both within and outside the organization. For the procurement team, according to Sievo Vice President and Co-founder Sammeli Sammalkorpi, data analytics offers a glimpse into how businesses are performing,


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