A global American company that manufactures and sells printing technologies with $4B in annual revenue.
Bring the two procurement organizations together with regards to supplier and contract-to-pay processes. To do this, the team needed to engage a few methodologies including business process assessment, contract management design and change management.
Merge the two existing global procurement organizations. On one side, there was a limited decentralized sourcing and contract management and on the other there was inconsistent utilization of process, policy and tools across the business units. In both organizations, category and contract management not effectively integrated into the procurement transaction workflow and there was limited formal strategy and operating model for supplier and contract management.
Velocity applied it’s S2P assessment methodology that included global user workshops with category and contract managers, business leads and procurement buyers in order to effectively map current-state Contract-to-Pay (C2P) processes for the two merging procurement organizations. Velocity then then applied best-practices in C2P process and procedure models to develop a fit/gap analysis which resulted in a newly recommended future-state C2P design that included detailed process maps, recommendations for change, and a revised procurement policy and SLA/KPIs for the newly implemented unified Contract-to-Pay program. Early results analysis, during the implementation, indicated an improved C2P cycle time by nearly 80% and the identification of supplier contract consolidation upwards of 35%.