The CFO Playbook on Finance: Where's the Money? Deeper Insight through Spend Optimization
Date: Mon, Aug 12, 2013
Time: 02:00 P.M. ET
Duration: 1 hour
About CFO Playbook
CFO Playbook is a series of educational Best Practice Webcasts, podcasts, eBooks, and events providing you with practical knowledge and insights from your peers.
Optimizing spend has become a holy grail in many organizations. The goal is to elevate procurement to a more strategic position, one in which expenditures across the enterprise are systematically managed with an eye towards cost efficiency and accountability.
By enhancing the value of procurement, companies can create a culture of spend optimization. In this regard, finance is perceived as the champion, launching the process to enhance spending controls to ensure that every division, department and function -- really everyone in the organization -- is empowered to spend more responsibly.
When spend is systematically managed, dramatic reductions in cost are achievable. Given the enormous wealth of company expenses -- equipment, machinery, raw materials, technology systems and networks, travel and entertainment, and even seemingly mundane office supplies, to cite a few -- remarkable savings can be realized.
Obviously, to garner such benefits, stricter expense management directives and a shift in organizational behavior are required. Ditto the need for more sophisticated procurement personnel, systems and applications, as well as enhanced practices within organizations on how best to engage procurement on an enterprise-wide basis.
Despite this promise, the challenges of migrating toward a spend optimization model are significant. During this Webcast, a distinguished panel of experts will discuss how best to address these challenges, including:
- How to establish proper spend procedures and controls;
- What role procurement must play in a spend optimization environment;
- How to discern the need for more sophisticated procurement talent;
- How to reorganize procurement for success and measure the results; and
- What technological tools are available and how to evaluate their efficacy.
About the Panelists
Scott Dever, Vice President, Sourcing Solutions, The Shelby Group
With The Shelby Group, Scott leads the Sourcing Solutions business, which helps companies achieve sustainable cost improvement and speed to savings among various procurement categories.
Throughout his career, Scott has participated as a thought leader on several procurement leadership councils, spoken at large industry events, and has served on various private company and not-for-profit boards.
Christine Dover, Research Director, Enterprise Applications and Digital Commerce, IDC
Christine Dover provides insight and analysis into enterprise applications software vendors' product portfolios, go-to-market strategies and their ecosystems. She also provides qualitative and quantitative market sizing and research on enterprise applications and digital commerce. In her role, Christine researches and consults with clients on topics such as social business integration with enterprise applications, industry-specific application solutions, engaging the developer community, and partnering strategies to expand the overall enterprise application and digital commerce ecosystem.
Duncan Jones, Vice President, Principal Analyst Serving Sourcing and Vendor Management Professionals, Forrester
Duncan Jones primarily contributes to Forrester's offerings for sourcing and vendor management professionals. He is a leading expert on software pricing and licensing, and helps clients understand and address the effects of technology changes on software contracts. By researching enterprises' experiences in dealing with large software vendors, including their negotiation successes and the problems they encountered later in their relationships, Duncan helps clients create and execute sound negotiation strategies and get advantageous software license and maintenance agreements.
He is also a leading expert on ePurchasing technologies, such as eProcurement, eSourcing, and electronic invoice presentment and payment (EIPP), and he advises clients on their application strategies in this area, how to make good choices among alternative solution providers, and how to get the best results from their implementations.
Sanil Solanki, Research Director, Gartner
Sanil Solanki is a research director with Gartner. His focus is on IT cost optimization practices, business case review for outsourcing, IT project finance, project benefits realization, IT chargebacks/showbacks and the business value of IT.
About the Moderator
Russ Banham is the Senior Writer at CFO magazine. During the past three decades, Mr. Banham has written close to 200 feature stories for CFO and CFO.com, as well as thousands of articles for many other business publications, including Forbes, The Economist, The Wall Street Journal, Financial Times, Chief Executive, U.S. News and World Report, Journal of Accountancy, and many others.
He is the author of 23 books, including The Ford Century, the award-winning, international best-selling history of Ford Motor Company, translated into 13 languages, and The Fight for Fairfax, detailing the extraordinary economic growth of northern Virginia in the aftermath of World War II. His various books have led to several television appearances, including on the TODAY show and A&E's Biography. He is currently writing a history of aviation in Hawaii.