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Practice

Spend Management

Our spend management services help organizations identify and realize significant cost savings, sourcing efficiency, and improve strategic supplier relationships

Pierre Mitchell, Chief Research Officer for Spend Matters, and David Pastore, Senior Vice President at Velocity Procurement, met to discuss how procurement can address the talent shortage that the global market currently faces. Velocity Procurement is a consulting services firm that helps procurement improve their financial results by investing in talent, processes, and technology.  
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Every type of procurement team should base its decisions and strategy on a thorough analysis of spend data

All strategic sourcing teams should rely on spend analytics insights to inform strategy and action toward meeting procurement’s objectives.

A fruitful procurement transformation depends heavily on a comprehensive, reliable spend analysis, opportunity assessment and sourcing plan. Research has shown us that procurement organizations frequently lacks high-quality, sourcing-ready data necessary to identify and realize more strategic, influential cost savings.

Velocity Procurement is a procurement services provider with a full-service model that combines procurement-focused spend analysis services with a industry-leading strategic sourcing methodology. We provide you with clear insights, market intelligence, subject matter expertise and strategic sourcing program management to drive savings.

How We Guide
The Procurement Journey

We put the right people, processes, and systems in place to manage large and complex projects and programs in their entirety. This includes services and capabilities related to the following areas:

Our spend management consulting services help procurement leaders realize cost savings, strategic sourcing, category management, and supply chain objectives

Spend Analysis

We collect, cleanse, normalize, and categorize 3rd party spend data into meaningful and actionable information.

Opportunity Assessment

Leveraging our experience and benchmark data, we identify and quantify cost savings opportunities to maximize your return on investment.

Sourcing Execution

Our team of strategic sourcing experts will collaborate with your team, drive strategic sourcing projects, and achieve increased bottom-line cost savings.

Benefits of Working with our Spend Management Team

Procurement organizations of all sizes, complexities, and maturity levels seek increased cost savings. By engaging with our team of sourcing experts for Spend Management support, our clients have shared in the following outcomes:

Improved sourcing operations that enable maximum strategic value

Average line-item annual savings of ~8.4%

Annual total cost of ownership reduction averaging 12.9%

21% increase in spend under management

Average reduction of 48% in maverick spending

Meet Velocity’s Spend Management Leaders

Rachel Henney

Director
Advisory Services

Rachel Henney

Rachel Henney has over 20 years of experience in business, technology and procurement transformation. She has led and managed multiple procurement divisions, with a passion for finding opportunities to streamline processes and tools that make procurement easy for end users and fun for the procurement organization.  (Yes, procurement really can be fun!).  Rachel’s belief is that focusing on business and stakeholder value realization is critical to an optimized procurement delivery model. Rachel’s deep expertise in technology and workflow design, program management, data analytics, third party risk, and supplier optimization provides her clients with a holistic outcome-based approach to end-to-end procurement solution design for internal procurement operations, managed services and business partners.

Rachel also is dedicated to supporting her local community and is a member of multiple non-profit Executive Board of Directors focused on youth, small business growth, sustainability and the advancement of diverse businesses.  As a child, her participation in sports and music created a strong appreciation of being a part of a team, working together to learn, grow and support each other’s successes, something she continues to prioritize throughout her career.  

Rachel lives in Oregon, one of the best states to live in when you have a passion for outdoor adventures, as there is everything from snow covered mountains, high deserts, and rivers that run to the ocean.  She, her husband and their two daughters spend many weekends finding hidden gem camping spots throughout the Pacific Northwest.

Favorite Quote:

“Be kind whenever possible.  It is always possible.” – 14th Dalai Lama

David Pastore

Senior Vice President
Spend Management

Dave Pastore

Senior Vice President
Spend Management

David Pastore

David is a results focused, strategic, and analytical Procurement thought leader who is passionate about elevating the role of Procurement to become a leader and create a competitive advantage for clients in their respective industries. For 15 years he has led teams of consultants that help market leading companies manage their most complex and strategic spends and supplier relationships. Pairing a technical background with his procurement expertise, he brings extensive experience sourcing, developing, and implementing source-to-pay technology. Most of all, David is genuinely committed to the people with whom he works. He has coached and mentored collaborators ranging from analysts to executives and deeply values the mutual growth derived from strong relationships.

An entrepreneur at heart, David always found ways to earn money from a very young age. He did things like setting up a trading card store and picked and sold wild blueberries to a local farmer’s market. Later, he ran his own business to pay his way through college by taking on odd jobs and subcontracting: landscaping, splitting firewood, refinishing railings, handyman work, etc. His discipline, determination and work ethic continue to drive improvement within himself, the teams with whom he works and his clients.

David lives in Pennsylvania with his wife and two dogs. He has far more interests and hobbies than he has time to pursue them. He enjoys traveling, hiking and camping, powerlifting, woodworking, metalworking, making noise with synthesizers, playing chess and creating art. He spends most of his free time in his workshop and has proudly built more of his furniture than he’s purchased.

Favorite Quote:

“The ultimate test of your knowledge is your capacity to convey it to another.” ― Richard Feynman

Achieving Value

Velocity combines leading proprietary technology solutions, procurement best practices, and a proven 8-step methodology to complete the end-to-end spend and sourcing programs. We customized this methodology to suit the specific issues of Procurement organizations resulting in numerous achievements. Most importantly, we align to our clients’ cultures rather than imposing our own. By understanding our clients’ objectives and meeting them where they are, we are able to tailor our approach to get them where they want to be.

Total Savings
Realized

$800M

Average
Line-Item Savings

8.4%

Sourcing Projects
Successfully Delivered

545

Average TCO
Savings Achieved

12.9%

Suppliers
Enabled

4685

Client Spend
Managed

$5.9B
“Knowing is not enough; we must apply. Willing is not enough; we must do.”
― Johann wolfgang von Goethe