Set Your Sights on Improved Procurement Visibility With an Integrated Analytics Dashboard
Strategic, ISS Group, and Phocas: April 27th Webinar Recap
by Andrew Weinstein, CEO ISS Group
In the world of procurement, the importance of having access to real-time data and analytics cannot be overstated. Without accurate, timely data, it’s challenging to make informed decisions that can impact the bottom line. Procurement managers need access to data from various sources and systems that could simplify the process and present the information in a clear, actionable format.
Introducing the Buyers’ Dashboard for QAD – a game-changing solution that can automate a ‘QAD process’ which previously required a significant investment of time and effort. With the Buyers’ Dashboard, you’ll have a real-time window into your entire supplier ecosystem, with key metrics and insights at your fingertips.
On April 27th, ISS Group, Strategic Information Group, and Phocas hosted an in-depth webinar featuring a new dashboard, which has been developed to visually represent data from QAD ERP and ISS Group’s Purchase Requisition Management solution, iPurchase. The dashboard was created by utilizing Phocas Analytics and Strategics’ Custom Data Adaptor. The purpose of the dashboard is to provide companies with a clear and concise view of their QAD data, allowing them to make informed decisions and take appropriate actions.
We are delighted to share that Mr. Hector Lopez, Corporate Senior Manager of Supply Chain at MAI Companies (GLA, GSA, IA), delivered an informative presentation during this event. Mr. Lopez provided valuable insights into the essential metrics he is seeking for his procurement team and discussed the significance of these metrics in designing a customized dashboard tailored to optimize supply chain operations.
Integrated analytics dashboards provide clear benefits to procurement managers. With access to real-time data and analytics, managers can make informed decisions to improve supplier performance, reduce costs, and ensure regulatory compliance. These tools also enable managers to track essential metrics and KPIs, leading to better-informed decisions that result in cost savings, improved supplier performance, and increased efficiency in purchasing.
Metrics such as:
Current Open PO Req Lines
PO Lines Received Early, On-Time, Past Due (% of Total PO Lines Received, #, $)
# & % of Shipments Received with Non-Conformance Issues (ie; missing documentation)
Avg. Time to Confirm Receipt of PO
Avg. Days to Receive vs. Lead Time (stored in QAD)
Invoice Accuracy
The presentation provided valuable insights for companies who are looking to streamline their data management processes and enhance their decision-making capabilities. It demonstrated the power of combining an advanced procurement solution with advanced analytics tools and custom data adaptors to create a comprehensive data visualization solution.
To provide examples of how Improved Procurement Visibility with Integrated Analytics Dashboards can benefit specific industries, consider the following referenced cases.
In the healthcare industry, a study by the Journal of Healthcare Information Management found that implementing an analytics dashboard for supply chain management can improve efficiency, reduce waste, and enhance cost savings. The study showed that using analytics dashboards can help healthcare organizations track their inventory levels, identify high-risk products, and optimize their procurement process to reduce costs.
Similarly, in the automotive industry, analytics dashboards have been shown to improve supplier performance and reduce costs. A study by the Aberdeen Group found that organizations that use analytics dashboards in their procurement process can reduce the cost of goods sold by up to 3%. Additionally, these organizations can improve supplier performance by up to 20%.
In the industrial sector, analytics dashboards have also proven to be valuable tools for improving procurement processes. A study by the Hackett Group found that procurement organizations that use KPIs such as cost savings, supplier performance, and cycle times achieve significant cost savings and better supplier performance. The study found that these organizations achieved an average cost savings of 8% of total spend, compared to 5% for organizations that did not use KPIs.
If you’re tired of outdated procurement methods that drain your time and energy, it’s time to step up your game with procurement visibility and integrated analytics dashboards. Take a cue from these industry-specific examples that prove how innovative procurement solutions, coupled with advanced analytics tools, can unlock a clear and concise view of your data.
Armed with this newfound clarity, you’ll be able to make informed decisions and take appropriate actions, leading to improved efficiency, cost savings, better supplier performance, and greater visibility.
The webinar provided attendees with a unique opportunity to learn from a procurement industry expert and gain valuable insights into designing customized dashboards to optimize supply chain operations. We are grateful to Mr. Lopez for sharing his knowledge and expertise with us and providing an engaging presentation.
Overall, the webinar was a great success with a terrific turnout, and we are pleased to have provided attendees with valuable information and practical strategies to improve their procurement processes. We look forward to hosting similar events in the future with our partners Strategic and Phocas and continuing to support QAD end-user organizations in their efforts to streamline their data management processes and enhance their decision-making capabilities.
If you missed the event, don’t worry! To request a recording of the presentation or the PowerPoint deck, email sales@issgroup.com, or submit the form on this page. Please feel free to reach out to us at sales@issgroup.com to schedule a meeting with our team to learn more about how our solutions can benefit your business.
About ISS Group:
ISS Group has been providing Solutions and Services to the QAD User Community since 1995. We specialize in providing Data-Driven Approval Routing and Workflow Business Process Solutions for QAD User Organizations to improve the ‘flow and control’ of QAD Integrated Processes.
About Strategic Information Group:
Strategic Information Group (Strategic) is a global QAD Sales and Consulting Partner in North America, Ireland, the United Kingdom, Sweden, and Denmark. We provide QAD next-generation ERP software that meets the challenges of today’s manufacturers from start-ups to market-leading companies and are honored to serve as trusted advisors and consultants throughout the lifecycle of their ERP strategy. We serve all six QAD-targeted verticals with a full range of enterprise applications to complement QAD, including QMS, CRM, and integrated point solutions from Strategic and other partners. With over 30 years of experience as customer success experts, we provide measurable results through proven solutions and services that maximize the value of companies’ technology investments by streamlining operational efficiency and reducing operational expenses. From our innovative products that extend functionality and streamline the FDA validation process, to our team of seasoned pros performing integrations, implementations, or fully-outsourced managed services, Strategic consultants understand your industry challenges and speak the language of manufacturing. Visit us at www.strategic.com
About Phocas
Phocas is a business planning and analytics platform that empowers companies to make better business decisions. Phocas offers robust solutions for analytics, budgeting and forecasting, and financial statements that work seamlessly together to help businesses report, budget, and act faster by putting data in decision-makers hands. Phocas comes with out-of-the-box metrics, powerful interactive dashboards, and broad functionality to provide immediate benefits and adoption. Users can customize the software to meet their unique analytics and reporting needs. Visit us at www.phocassoftware.com.