Advisory

Technology Acquisition

Successfully transform procurement technology using both ‘best-of-breed’ and ‘fully-integrated’ solution-approaches.

Strategic Approach to Selecting the Best-Fit Solutions

Leverage Industry-leading Technology Platforms To Improve Procurement Efficiency & Effectiveness

The vast technology landscape can present a challenge to procurement decision-makers. Velocity’s technology team understands the complexities of procurement technologies and uses that expertise to help clients along the technology improvement journey.

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Best-Fit Solution Selection

1

UNDERSTAND

Perform rigorous internal needs and stakeholder analysis

2

DEVELOP

Specifications and strategy for solution evaluation

3

EVALUATE

Leverage formal strategic sourcing and change readiness

4

PROPOSE

Preform internal selling and justification

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The Best-Practice Approach to SaaS Solution Evaluation & Acquisition

Utilize an effective model for conducting a formal needs analysis and fit/gap assessment, including a detailed business case leading to an efficient sourcing decision.

ASSESS

Internal & External Analysis
Market Intelligence
Business Process Fit/Gap
Develop Requirements

DEVELOP

Formalize Specification
Evaluation Strategy & Criteria
Roadmap & Budget
Pre-Screen Providers

SOURCE

Formalize Specifications
Execute RFx
Provider Comparison
Short-List Viable Options

COMPARE

Scenario Analysis
Stakeholder Feedback
Confidence Factoring
Cost/Benefit/ROI

JUSTIFY

Executive Presentation
Cross-Functional Buy-In
Financial Readiness
Go/No-Go Approval

AWARD

Commercial Package(s)
Final Deliverables
Financial Commitment
Provider Enablement

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Insight

Procurement Transformation: A Modern Road Trip, Part 3 – The Weather

Preface: For Part 3 in Velocity’s Road Trip blog series – “The Weather” AKA Client Partners – we were fortunate enough to have a real-life Client P…

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Infographic

Best-Practice Approach to SAAS Solution Acquisition

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Case study

Procurement Technology Assessment, aka P2P Tech Rescue

The balance of experience and expertise in spend management leads to effective decision making.

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A Few Keys to Success

In some instance, procurement organizations have achieved a certain level of maturity or have excelled in some areas of their business, but still need some degree of support in expanding their capabilities

Establishing the vision and plan is essential to understanding where you’ve been and where you are going is critical – too many companies focus purely on short-term needs, such as features and functionality.

Getting the leadership, stakeholders and key users on-board early in the program will ensure all the needs of the business are addressed and optimal adoption has a real opportunity to be realized.

Ensure that what you develop in your business case matches what vendors demonstrate for you, and that these requirements are correctly included in the quote and SOW. Aligning the business case and the final delivered solution is where most projects go wrong.

Procurement
Assessment

AP
Assessment

Technology
Acquisition

Change
Management

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Procurement Potential

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484-406-5678

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