Until now, procurement operations and savings forecasting has been mostly guesswork and inference, based on a combination of historical spend and market trends. However, there is one simple and often overlooked method of forecasting savings by department, buyer and category: Quotes.

Quotes at most companies live in email-and-spreadsheets and in data silos, remaining inaccessible until Purchase Orders are issued. Sourcing & Procurement Operations teams now have the power to generate real-time savings forecasts, set targets and catch costly exceptions before they impact your Profit & Loss (P&L).

This webinar will explore how top procurement teams are able to use real-time data in Quotes and Purchase Requests to forecast savings on Purchase Orders, to proactively identify costly exceptions and to consolidate spend with preferred suppliers, before a Purchase Order is issued. Using leaderboards and micro-bonuses, procurement teams can now track savings target attainment in real time. Procurement teams are now able to motivate buyers to exceed targets for operational excellence, including supplier consolidation, on-contract spend attainment, compliant payment terms and lead times. In this webinar, the panelists will share insights into the future of procurement forecasting, including:

• How to accurately forecast savings in real-time using current quote data
• How to leverage quote data to set targets for procurement operations excellence
• Best practices for motivating your procurement team to exceed savings targets