The Necessity of a Single View of the Entire Supply Chain

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Procurement teams can find themselves paralysed by the data if they do not have a comprehensive view of the sourcing lifecycle
Without a comprehensive view of the sourcing lifecycle, data paralysis can badly affect procurement teams, and cause them to miss out on vital improvements

With everything being catalogued, stored and analysed, data shaping procurement can soon become an animal difficult to tame.

Leaders may be tempted to store every single detail of the operation to analyse and compare to ensure they are getting the best deal. However, if this is not managed effectively with an end-to-end platform, procurement teams can find themselves facing a significant challenge, quickly becoming bogged down in numbers and paralysed by the data.

The landscape of modern procurement

The current climate facing teams juxtaposed with modern expectations for procurement teams.

Procurement professionals are expected to quickly process endless data, cut through the noise to find savings, while also discovering ways to reduce their carbon footprint and ensure suppliers comply with a code of conduct.

The sourcing lifecycle refers to the entire process involved in sourcing goods and services, which includes needs identification, market analysis, supplier selection, negotiation, order placement, supplier management, delivery, performance review, payment and contract renewal or termination.

Within each of these factors comes an ever-increasing volume of data at the CPO’s fingertips but, without the right tools, managing this data effectively remains a significant challenge.

A single, comprehensive platform to oversee the entire supply chain becomes the lynchpin when it comes to making informed and strategic decisions. Analytics is seen as a key area of investment for the future. According to The Deloitte Global Chief Procurement Officer Survey 2023, which spoke to 350 senior procurement leaders, 51% of CPOs said that data and analytics is an area they are planning to invest in.

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Atamis - supporting the entire lifecycle

Atamis was founded in 2009 as a spend analysis software provider. Now, it offers a comprehensive, end-to-end solution supporting the entire sourcing lifecycle.

The UK-based company streamlines the entire procurement process, from sourcing and contract management to supplier relationship management and spend analysis.

By integrating data from multiple sources, Atamis enables procurement professionals to collate, analyse and make data-driven decisions, avoiding data paralysis. The platform offers intuitive dashboards, customisable reports and robust tools empowering clients to get their data working for them.

This comprehensive view allows organisations to improve efficiency, reduce costs, enhance supplier performance and respond quickly to market changes, ultimately transforming procurement into a strategic, value-driven function within the wider organisation.

The crucial role of data

Despite how data can cause issues, it is undeniable that it is a crucial asset, especially for procurement, which needs access to vast amounts of data to empower strategic processes and drive informed decisions.

However, without the right platform, data can be underutilised and even a barrier to progress. Without effective management of key data and the ability to analyse and rely on this data, teams may struggle to drive value in a turbulent landscape.

The Atamis solution enhances procurement processes by integrating and collating information from a range of sources into a central platform, providing a comprehensive view of the entire lifecycle.

Through advanced analytics tools that digest data to uncover patterns, trends and insights, decision-making is empowered with the information needed to stay informed. Procurement teams benefit from user-friendly dashboards, customised reports, visualisation of key metrics, allowing clients to spot issues quickly and make decisions more strategically.

Its robust spend analysis capabilities optimise budget allocation and ensure continuous supplier performance management, compliance and accountability.

Additionally, the platform assists with resource planning and management, allowing procurement teams to forecast needs and allocate resources efficiently. By leveraging real-time data and trends, Atamis enables organisations to stay agile and responsive to market changes, transforming procurement into a proactive, strategic function.

Being able to view the entire lifecycle of procurement is no longer a nice-to-have; it is a necessity for modern procurement teams to succeed in 2024 and beyond.

By taking control of their data, procurement can drive future-focussed strategies forward, improve efficiencies and navigate future challenges with data-backed decisions across the entirety of the value chain.

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Read more about Atamis' solutions on their website

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