Discussing the Importance of Spend Cube Analysis with Cushman & Wakefield’s VP of Procurement
Podcast Discussion with SpendHQ Customer
SpendHQ sat down with customer Erik Sternisha, VP Lead of Procurement Operations / Center of Excellence at Cushman & Wakefield. Erik shared his insights on the evolving role of Procurement in the commercial real estate industry. During this podcast he reflected on his experiences, spanning some 15 years in procurement technology and category management, and shared insights into spend cube analysis and spend analysis best practices.
He talks about the trappings of relying on getting all of your information from source-to-pay or procure-to-pay suite solutions. “Most organizations have more than one ERP instance or technologies that capture spend.” He cites partial views of data, spend data not being coded and classified the way procurement needs it, and the constant need to integrate new tools and systems that adds more challenges to getting all the relevant information in one place.
He shares their journey in having to re-build their spend analytics approach and solution. As a SpendHQ customer, he talks about his preference for working with the company for its “best of breed” solution capabilities combined with the sourcing/category management expertise in house at SpendHQ. “We have a really robust spend cube now.”
From my personal experience to approaching procurement technologies, unless you have a very mature organization across the board (and not just procurement), you really don’t realize the benefits of an end-to-end source-to-pay solution. So especially as it relates to spend analytics, it’s important to choose a partner experienced in sourcing and category management and has played a role in that space.