www.comprara.com.au Open in urlscan Pro
141.193.213.10  Public Scan

Form analysis
3 forms found in the DOM

#

<form role="search" action="#" autocomplete="off" aria-label="Search form"> <input type="search" class="orig" placeholder="Search here..." name="phrase" value="" aria-label="Search input" autocomplete="off" tabindex="0"> <input type="text"
    class="autocomplete" name="phrase" value="" aria-label="Search autocomplete input" aria-hidden="true" tabindex="0" autocomplete="off" disabled=""></form>

Name: options —

<form name="options" class="asp-fss-flex" aria-label="Search settings form" autocomplete="off"> <input type="hidden" name="current_page_id" value="7998" tabindex="0"> <input type="hidden" name="qtranslate_lang" value="0" tabindex="0"> <input
    type="hidden" name="filters_changed" value="0" tabindex="0"> <input type="hidden" name="filters_initial" value="1" tabindex="0">
  <div style="clear:both;"></div>
</form>

GET https://www.comprara.com.au/

<form method="get" class="search-form" action="https://www.comprara.com.au/">
  <div> <input class="search-text" type="text" name="s" value="" onfocus="if(this.value==this.defaultValue)this.value='';" onblur="if(this.value=='')this.value=this.defaultValue;" tabindex="0"> <input class="search-submit button" type="submit"
      value="Search" tabindex="0"></div>
</form>

Text Content

Skip to content
☰
 * Services
   * Services Overview
   * Strategy & Advisory
   * Consulting & Comms
   * Innovating & Change
   * Reporting & Analysis
   * Negotiating & Auctions
   * Audit & Governance
   * Procurement Technology
 * Solutions
   * Assess Capability
   * Build Competencies
   * Analyse Spend
 * Platforms
   * Platform Overview
   * Comprara .Net
   * SkillsGAP Analysis
   * e-Learning
   * ProcureTRAK
 * Customers
   * Customer Sectors
   * Case Studies
 * Resources
   * Blog
   * Procurement Newsletters
   * Procurement Glossary
   * Procurement Tube Map
   * Category Strategy Tool
   * A Category Strategy That Sticks
 * About
   * About
   * Meet the team
   * Careers
   * Vulnerability Disclosure Policy
   * Contact us

Book a Consultation

Search







 * Services
   * Services Overview
   * Strategy & Advisory
   * Consulting & Comms
   * Innovating & Change
   * Reporting & Analysis
   * Negotiating & Auctions
   * Audit & Governance
   * Procurement Technology
 * Solutions
   * Assess Capability
   * Build Competencies
   * Analyse Spend
 * Platforms
   * Platform Overview
   * Comprara .Net
   * SkillsGAP Analysis
   * e-Learning
   * ProcureTRAK
 * Customers
   * Customer Sectors
   * Case Studies
 * Resources
   * Blog
   * Procurement Newsletters
   * Procurement Glossary
   * Procurement Tube Map
   * Category Strategy Tool
   * A Category Strategy That Sticks
 * About
   * About
   * Meet the team
   * Careers
   * Vulnerability Disclosure Policy
   * Contact us

×



Author: Milan Panchmatia Date: February 29, 2024
Share on



FUTURE-PROOFING YOUR PROCUREMENT: THE COST OF IGNORING MATURITY MODELS – PART 2

In the first part of our series, we delved into the foundational elements of
procurement maturity models, from assessing the current state to charting a path
towards a transformative future vision. We underscored the strategic importance
of these assessments and the tangible benefits they offer. Equally crucial, we
touched upon the significant costs and risks associated with neglecting the
maturity model framework—a decision can lead organisations to miss out on
critical efficiencies, innovations, and strategic alignments that drive
competitive advantage.

 As we transition into Part 2, our focus shifts to Section 6, where we will
explore the development of strategies based on maturity assessments, outline the
critical steps for effective implementation, and highlight the pivotal role of
technology in enhancing procurement excellence. We’ll also detail Comprara’s
distinctive approach to tailoring procurement maturity solutions to meet the
unique needs of diverse businesses.


7. STRATEGY DEVELOPMENT FROM MATURITY ASSESSMENT

FORMULATING STRATEGIC PLANS BASED ON MATURITY ASSESSMENTS

The procurement maturity assessment offers a clear picture of where an
organisation stands and what it needs to achieve its future objectives. This
assessment is crucial for crafting a strategic plan to enhance the procurement
function’s effectiveness. Strategy formulation turns insights from the maturity
assessment into actionable steps that support the organisation’s broader goals.

Identifying areas for improvement is essential, whether it’s streamlining
processes, adopting new technologies, managing supplier relationships, or
upskilling the procurement team. The aim is to transition procurement from a
support function to a strategic business partner.

ALIGNING WITH OVERALL BUSINESS STRATEGY

Successful procurement transformation requires aligning its strategy with the
company’s overall business goals. This ensures procurement efforts contribute to
broader objectives, such as expanding into new markets, meeting sustainability
targets, or enhancing customer satisfaction.

Achieving this alignment involves cross-departmental collaboration, ensuring
procurement initiatives are bolstered and supported by other business areas. For
instance, if the company aims to innovate its product line, procurement should
focus on sourcing from suppliers who offer novel materials or technologies.

PRIORITISING INITIATIVES FOR PROCUREMENT TRANSFORMATION

After strategy development, the focus shifts to prioritising initiatives
critical for transforming procurement. This involves evaluating each
initiative’s potential impact based on its strategic relevance, cost,
implementation timeline, and expected benefits. High-impact initiatives that
align with strategic goals and significantly advance procurement maturity
deserve priority.

Tools like the Eisenhower Matrix can help sort initiatives into categories based
on urgency and importance, guiding efforts towards activities with the most
significant potential to enhance procurement maturity and contribute to business
success.

EXECUTING AND MONITORING PROGRESS

With a strategic plan and a priority list, the following steps include detailed
planning, execution, and ongoing monitoring. Execution plans must specify
required resources, timelines, and accountability. Tracking progress through
predefined KPIs and milestones allows for evaluating strategy effectiveness and
making necessary adjustments.

Regular review sessions ensure the procurement transformation remains in step
with the company’s strategic direction and can adapt to any shifts in the
business landscape. This continuous cycle of planning, executing, and reviewing
cultivates a culture of ongoing improvement in procurement, steering the
organisation towards its envisioned state of procurement excellence.


8. IMPLEMENTATION AND BEYOND – WHAT HAPPENS AFTER ASSESSMENT?

After meticulously assessing procurement maturity, organisations enter a
critical phase—translating insights into action. This stage is pivotal as it
sets the trajectory for evolving from the current state (‘As Is’) to the
envisioned future state (‘To Be’). Effective implementation and ongoing
management require a comprehensive action plan, robust change management
strategies, and continuous monitoring for adaptation.

ACTION PLANS AND ROADMAP DEVELOPMENT

The foundation of moving forward is a detailed action plan and a strategic
roadmap. These documents should outline the specific initiatives, projects, and
activities required to bridge the gap between the current and desired states of
procurement maturity. The roadmap serves as a visual guide, providing a timeline
for implementing these initiatives, helping stakeholders understand the sequence
of changes, and setting realistic expectations for progress. These plans must be
flexible, allowing for adjustments as organisations learn and grow through the
transformation process.

CHANGE MANAGEMENT AND STAKEHOLDER ENGAGEMENT

Change is often resisted, making change management an essential component of the
implementation phase. A successful transition requires managing the human
element of change, ensuring that all stakeholders are engaged, informed, and
supportive. This involves clear communication about the reasons for change, its
benefits, and its impact on various roles within the organisation. Training and
development programs are crucial to equip employees with the skills needed for
new processes and technologies. By fostering a continuous improvement and
innovation culture, organisations can encourage adaptability and resilience
among their teams.

MONITORING PROGRESS AND ADAPTING STRATEGIES

With the roadmap in action, continuous monitoring and evaluation are key to
ensuring the procurement transformation stays on track. Key performance
indicators (KPIs) and milestones defined in the action plan provide a framework
for measuring progress. Regular reviews allow organisations to assess whether
the initiatives are delivering the expected outcomes and to identify areas where
adjustments may be necessary. This agile approach enables procurement teams to
respond to internal and external changes, new opportunities, and challenges,
ensuring the transformation journey is dynamic and aligned with the
organisation’s evolving needs.

As organisations move through the implementation phase and beyond, the focus
shifts from merely achieving a higher level of procurement maturity to
sustaining it. Continuous improvement becomes a core principle, with procurement
teams constantly seeking ways to enhance efficiency, drive value, and foster
innovation.

This journey does not have a definitive endpoint; rather, it is an ongoing cycle
of assessment, implementation, and adaptation, ensuring that procurement remains
a strategic asset capable of supporting the organisation’s long-term goals.


9. THE ROLE OF TECHNOLOGY AND DIGITAL TRANSFORMATION

Digital transformation in procurement transcends mere process automation,
harnessing technology to unlock strategic value, boost efficiency, and ignite
innovation. As procurement teams evolve from basic operational roles to
strategic business partners, technology is a pivotal support system facilitating
this crucial transition.

KEY DIGITAL TOOLS FOR PROCUREMENT EXCELLENCE

Procurement teams have access to a diverse array of digital tools and
technologies, each tailored to overcome specific challenges and seize
opportunities within the procurement landscape:

 1. Electronic Procurement (e-Procurement) Systems: Simplify the procurement
    cycle from requisition to payment, enhancing process efficiency and
    minimising manual errors.
 2. Supplier Relationship Management (SRM) Software: These tools streamline
    supplier data and performance management, fostering stronger collaborations
    and strategic sourcing.
 3. Spend Analysis Tools: Offer valuable insights into procurement spending,
    spotlighting areas for cost reduction and more effective spend management.
 4. Contract Management Systems: Automate and manage contract lifecycle
    processes, ensuring compliance and mitigating risks.
 5. Procurement Analytics: Leverage advanced analytics to gain a deeper
    understanding of procurement operations, pinpointing areas for optimisation.
 6. Cloud-Based Solutions: Provide scalable and flexible procurement
    capabilities, supporting remote collaboration and operational continuity
    across locations.

ACCELERATING PROCUREMENT MATURITY WITH TECHNOLOGY

Technology propels procurement teams through maturity stages by:

 * Enhancing Efficiency and Automation: Streamlining processes to shift focus
   from transactional tasks to strategic endeavours, a key indicator of maturity
   progression.
 * Enabling Data-Driven Decisions: Transforming decision-making with actionable
   insights from procurement data, promoting sophisticated strategy development.
 * Improving Collaboration: Digital tools improve stakeholder and supplier
   interactions, aligning procurement actions with overarching business
   objectives.
 * Fostering Innovation and Agility: Technology equips procurement teams to
   quickly respond to market shifts, adopt new practices, and drive ongoing
   enhancements.
 * As technology evolves, so must procurement functions, constantly exploring
   and integrating new digital solutions to strengthen their strategic
   contributions. Successfully embedding technology into procurement accelerates
   an organisation’s advancement through maturity levels and transforms
   procurement into a strategic, value-centric pillar.


10. COMPARA’S PROCUREMENT MATURITY ASSESSMENT

The path to procurement excellence begins with a comprehensive understanding of
your current standing, and Comprara’s procurement maturity assessment tool is
essential in this journey. This tailored diagnostic process offers an
intelligent evaluation of your procurement operations, laying the groundwork for
a successful transformation.

DEEP DIVE ASSESSMENT

Comprara’s methodology involves an in-depth analysis of your organisation’s
procurement practices, benchmarking them against industry standards and best
practices. By engaging with key stakeholders, Comprara ensures a holistic
assessment, considering processes and the people and technology driving them.
This approach identifies critical areas needing improvement, setting the stage
for a strategic enhancement plan.

CUSTOMISED SOLUTIONS FOR UNIQUE BUSINESS NEEDS

Understanding that each business is unique, Comprara customises its diagnostic
tools to fit your business’s specific environment, industry, and objectives.
This personalised approach guarantees that the strategies and solutions proposed
are effective but also relevant and practical for your specific context.

COMPRARA’S DIAGNOSTIC APPROACH TO PROCUREMENT MATURITY ASSESSMENT

Comprara’s diagnostic methodology is designed to align your organisation’s
procurement activities with distinct maturity stages, providing a clear
framework for evolution and enhancement. This approach involves comprehensive
assessments across various dimensions, focusing on how procurement capabilities
can be developed and optimised.

STAGE A – BASIC:

At the foundational level, Comprara evaluates your procurement function’s basic
practices and infrastructure. This assessment includes examining the efficiency
of essential procurement processes, initial cost management efforts, and the
establishment of fundamental purchasing systems.

Key considerations might include:

 * How procurement transactions are managed.
 * The establishment and application of basic procurement policies.
 * The collection and management of procurement data.

STAGE B – GROWING:

Moving to the growing stage, Comprara’s assessment becomes more detailed,
spotlighting strategic sourcing efforts and policy compliance. Areas of focus
include:

 * The identification and initiation of strategic sourcing initiatives.
 * The degree of compliance with procurement policies.
 * The formation and internal communication of procurement strategies.

STAGE C – PROGRESSIVE:

For organisations in the progressive stage, Comprara examines strategic process
improvements and the sophistication of procurement strategies, including total
cost of ownership models and supplier relationship management. Key questions
might involve:

 * How the total cost of ownership influences procurement decisions.
 * The processes in place for advanced supplier relationship management.
 * The alignment of procurement strategy with broader business goals.

STAGE D – ESTABLISHED:

At the established level, the diagnostic centers on how procurement is
integrated with wider business functions and the adoption of advanced
technologies for enhanced efficiency and innovation. Considerations include:

 * The integration of procurement with other key business areas.
 * The use of advanced technology for data analysis and process automation.
 * The contribution of procurement to overall business innovation.

STAGE E – BEST IN CLASS:

For best-in-class procurement functions, Comprara evaluates the strategic
positioning of procurement as a key business partner, the use of sophisticated
analytics, and the effectiveness of supplier partnerships. The assessment might
cover:

 * The role of procurement in driving business innovation and value.
 * The impact of advanced analytics on strategic decision-making.
 * Strategies for managing supplier partnerships to maximise value and reduce
   risk.

Comprara’s procurement maturity assessment tool methodically reviews procurement
capabilities domains through these stages, 14 of which are supplied below as an
illustration, thoroughly analysing your organisation’s current state and a
strategic pathway to higher maturity levels. This detailed assessment identifies
growth areas and highlights existing strengths, guiding your organisation’s
progression within the procurement maturity model.

EXAMPLES OF 14 PROCUREMENT CAPABILITIES ASSESSED THROUGH COMPRARA’S MATURITY
DIAGNOSTIC

There are various dimensions of procurement capabilities and attributes that
evolve as an organisation progresses through the stages.

Here is an example of 14 capabilities that will be assessed, measured and mapped
in your Procurement Maturity Assessment:

 1.  Position in the Organisation: How the procurement function is perceived,
     from a back-office function to a strategic partner.
 2.  Procurement Strategy and Governance: The level of sophistication and
     integration of procurement strategies and governance models, from
     fragmented to highly aligned with business strategies.
 3.  Process and Policy Maturity: Details the extent of process formalisations
     and adherence to procurement policies, from limited systematisation to
     routine access to best cost sources and efficient operations.
 4.  Systems & Technology: Describes the systems and technology stack used by
     procurement, from essential administrative tools to advanced data analytics
     and automation.
 5.  Supplier Relationship Management (SRM): Reflects the maturity of supplier
     relationships, from basic transactions to robust, globally optimised
     category management.
 6.  Analytics and Data Utilisation: Indicates data utilisation for procurement
     decisions, from basic data handling to advanced market analytics for
     decision-making.
 7.  Staff Skills and Competency: Outlines the level of skills and expertise
     within the procurement team, from administrative focus to highly
     professional staff with solid business acumen.
 8.  Category Management: Describes the approach to managing product categories,
     from non-strategic to proactive and optimised management.
 9.  Cost Reduction and Value Creation: Covers the focus on cost-saving measures
     and the drive towards value creation within the procurement function.
 10. Stakeholder Engagement: Details how procurement interacts with and engages
     other parts of the organisation, from limited involvement to tight
     cross-organisation linkages.
 11. Innovation and Market Adaptation: Indicates how procurement responds to
     market changes and adopts innovation, from reactive to leading
     enterprise-wide initiatives.
 12. Change Management: Reflects the approach to managing change within
     procurement, from ad hoc to structured and highly effective change
     management practices.
 13. Risk Management: Outlines the maturity of risk management strategies within
     procurement, from basic understanding to advanced risk mitigation and
     strategic foresight.
 14. Sustainability and Ethical Sourcing: Describes the focus on sustainable and
     ethical procurement practices, from non-existent to deeply integrated into
     procurement processes.

LAYING THE GROUNDWORK FOR STRATEGIC ADVANCEMENT

The outcome of Comprara’s diagnostic is a detailed report that benchmarks your
procurement function’s current maturity against its potential future state. This
analysis is pivotal for setting attainable goals and equipping your organisation
with the insights necessary for informed decision-making regarding procurement
strategies, technology investments, and skill development.

IMPROVING PROCUREMENT MATURITY WITH COMPRARA

Comprara understands the critical role that procurement plays in the overall
success of an organisation. In a world where efficiency, strategic sourcing, and
cost management are pivotal, Comprara offers a suite of solutions tailored to
enhance the procurement function at every stage of maturity. With a clear focus
on driving procurement excellence, Comprara’s offerings are designed to
streamline processes, mitigate risks, and deliver sustainable value. 

The journey from basic, reactive purchasing to integrated, strategic procurement
is transformative, equipping organisations to navigate the complexities of
today’s global marketplace with agility and insight.

UNDERTAKE THE JOURNEY WITH US

The shift toward procurement excellence is not merely an operational upgrade;
it’s a strategic evolution that touches every aspect of an organisation.
Embracing this journey is essential for those who aim to remain competitive,
mitigate risks, and capitalise on new opportunities. The procurement function,
once seen as a back-office activity, has now emerged as a critical driver of
business performance and value creation.

We encourage organisations to grasp the transformative impact of advanced
procurement practices and to leverage the insights and tools provided by
Comprara’s solutions. Engaging with Comprara is not just about adopting new
processes; it’s about fostering a culture of continuous improvement and
strategic thinking within your procurement team.

Begin your journey toward procurement excellence today by contacting Milan
Panchmatia, CEO for a consultation. Discover how our expertise can align with
your organisational goals to create a procurement function that is efficient but
also strategic and value driven.

https://www.linkedin.com/in/milanpanchmatia/

Share on FacebookShare on TwitterShare on Linkedin
Posted in Procurement
Tagged Procurement

FOLLOW US



--------------------------------------------------------------------------------

RECENT POSTS

 * Open vs Closed Tenders: A Deeper Dive into Making the Right Choice
 * Future-Proofing Your Procurement: The Cost of Ignoring Maturity Models – Part
   2
 * Future-Proofing Your Procurement: The Cost of Ignoring Maturity Models – Part
   1
 * Measuring More Than Money: Evaluating the Social Return on Public Procurement
   – Part 2
 * Measuring More Than Money: Evaluating the Social Return on Public Procurement
   – Part 1

CATEGORIES

 * Agile Procurement
 * Artificial Intelligence
 * Audit and Governance
 * Category Management
 * Category: E-Learning
 * Category: Negotiation Tactics
 * Category: Procurement e-Learning
 * Category: Procurement Skills Assessment
 * Category: Stakeholders
 * Category: Stakeholders Management
 * Category: Supplier Performance
 * Category: Supplier Relationship
 * Category: Supplier Relationship Management
 * Category: Uncategorized
 * Commercial Acumen
 * Communication & Reporting
 * Compliance Reporting
 * Contract Management
 * Cybersecurity
 * Data Analysis
 * Data Protection
 * Data Suite Series
 * Digital Transformation
 * Indirect Spend
 * Innovation & Change
 * Insurance Procurement
 * Leadership
 * Negotiation
 * Newsletters
 * Probity
 * Procurement
 * Procurement Courses
 * Procurement Training
 * Procurement Transformation
 * Skills Assessments
 * Skills Gap
 * SLAs and KPIs
 * Specification Writing
 * Spend Analysis
 * Spend Cube Process
 * Strategic Sourcing
 * Supply Chain
 * Supply Chain e-Learning
 * Sustainable Procurement
 * Tender Evaluations

TAGS

academy of procurement agreement AI Artificial Intelligence audit Benchmark big
data Blockchain business model capability Communication contract management data
analysis decision-making e-Learning Leadership learning Negotiation Procurement
procurement assessment procurement capability procurement industry procurement
training purchasing skills gap spend analysis supplier performance Training
 business acumen  business insight  commercial acumen  contract  Data Patterns
 Global Procurement Benchmark  Predictive Analysis  Procurement Skills
 procurement strategy  Purchasing Index  Sales  srm  supplier relationship
 Supplier Relationship Management  Suppliers  Supply Chain  upskill


MEET THE AUTHOR


MILAN PANCHMATIA

Joint CEO

Let's Chat

Milan has over 20 years of experience in consulting and procurement and has
demonstrable experience of selling and leading major contracts across Europe,
the United Kingdom and the USA, including multi-million GBP transformational
projects in a wide variety of sectors.

During this time, his focus has been on developing innovative business practices
and processes that have provided truly actionable insights at both a strategic
and tactical level with a clear focus on delivering cost savings through
transformational and cost reduction programs.

Over the past decade Milan has worked in procurement consultancy and data
analytics in the retail, oil & gas, financial services, technology and public
sectors but more recently has had a particular focus on retail and private
equity-owned organisations.

Milan was the founder and CEO of the Marketing Factory which was sold to 4C in
2014 and was subsequently Managing Partner at 4C Associates based in London.

Milan is now joint CEO of the Comprara Group, a specialist procurement
consulting, analytics & training company that works with ASX 200 listed
companies and Governmental organisations.

More articles by Milan

--------------------------------------------------------------------------------

SERVICES

 * Services overview
 * Strategy & Advisory
 * Consulting & Comms
 * Innovating & Change
 * Reporting & Analysis
 * Negotiating & Auctions
 * Audit & Governance
 * Procurement Technology

SOLUTIONS

 * Assess capability
 * Build competence
 * Analyse spend

PLATFORMS

 * Platforms overview
 * Comprara.Net
 * SkillsGAP Analysis
 * e-Learning
 * ProcureTRAK

ABOUT

 * About us
 * Meet the team
 * Blog
 * Contact us
 * Sectors
 * Case Studies
 * Privacy Policy
 * Vulnerability Disclosure Policy

Comprara Pty Ltd

 * ABN: 57 642 065 594
 * Level 6, 365 Lt Collins Street,
   Melbourne, Victoria 3000
   Australia
 * Tel: +61 3 8547 3940

Comprara acknowledges the traditional Aboriginal owners of country, recognises
their continuing connection to land, water and community and pays respect to
Elders past, present and future.

© 2024 | Web Developed by Web Intelligenz