Cleveland, Ohio - September 18th, 2017 - BuyerQuest, a leader in enterprise Procure-to-Pay technology, today announced their sponsorship and participation in an upcoming online seminar entitled, "Strategic Spend Management: Best-in-Class Strategies for CPO Success". The webinar is scheduled for Wednesday, September 27th at 2 pm ET and includes speakers from Ardent Partners, BuyerQuest and Kimberly-Clark.
Ardent Partners' research has shown that for average enterprises, the percentage of spend under management for 2017 is 61.2%. That number has remained relatively flat over the last year, with only 16% of CPO's focused on increasing their spend under management over the next few years.
The webinar will discuss the importance of spend under management to other performance metrics, building upon Ardent Partners research that has shown that best-in-class procurement organizations realize superior performance across other key metrics. In fact, their research has revealed that for every dollar under management by procurement, the average enterprise has seen a benefit of between 6% and 12% during the first contract cycle.
"Many CPO's we speak with are looking for strategic methods to increase their visibility and influence within the organization.", said Martin Kelly, Vice President of Sales at BuyerQuest. "This webinar provides a great opportunity to understand the relationship between spend under management and other metrics that can increase visibility."
Attendees to the webinar can expect to learn practical strategies and methods used by best in class companies to bring more spend under management. In addition, attendees will gain insights to turn spend data into actionable intelligence. Participants will understand how procurement teams can leverage their systems and processes to both centralize control and improve compliance.
For those that attend the event, Ardent Partners is offering a free copy of their, "State of Procurement 2017" research report.
This is a must-attend event for Chief Procurement Officers or procurement leaders struggling to bring more spend under control, or looking to find new ways to drive improvements in key metrics.
BuyerQuest is an enterprise Procure-to-Pay solution that delivers a world-class eCommerce experience to procurement organizations all around the world. Our software streamlines and enhances the corporate buying process allowing our customers to increase user adoption, drive contract compliance, and save money. BuyerQuest combines the power of cognitive computing with the discipline of enterprise procurement, offering an agile solution that empowers companies to solve their complex procurement problems. BuyerQuest customers have the spend transparency, deep insights, and advanced intelligence capabilities they need to focus more on strategic priorities and less on tactical, lower value tasks. Global organizations use BuyerQuest to fundamentally transform their procurement experience and more efficiently manage their entire procure-to-pay process. Visit www.BuyerQuest.com to learn more.