The world of business is full of tough decisions. It’s true if you are a one-person shop, and it’s true if you world for a multi-national corporation. It’s especially true if you work in the realm of procurement software, but more on that in a second.
Business leaders who are forced to make tough decisions – and would like some pointers – would be wise to follow the tips laid out in this (semi) recent Forbes.com piece. But as with everything on the Vroozi blog, we wanted to provide our own views on how these pieces of advice apply towards the procurement professional. Shocking, we know.
So without further delay, here are three tips for making tough decisions – and how Vroozi makes certain ones a little easier. Note the Forbes.com content in italics, followed by our take.
Tip #1: Make no decision before its time. Clay Mathile, former owner of the Iams Company and now founder of Aileron believes that this is the key for any executive. He states, “If you don’t make those decisions that you don’t have to make, invariably, there’s new information that comes, there’s more information, better information, better data.” Making a decision at a later date may lead to a more informed one.
Our take: In the world of procurement, it’s never a good idea to make a major decision without all the relevant information. For instance, if one were considering increasing or decreasing spend on a particular product or service, they would need to have the most up-to-date information possible. With Vroozi, purchasing managers always have the latest information on purchasing behavior – down to the minute.
Tip #2: Accept that this is not an easy decision and there are no “right” answers. Stop searching. There is only a “current” right decision based on the information that is available.
Our take: It’s true that often times there is no right answer – hindsight is 20/20 after all – but when making difficult procurement solutions decisions, the “current” right decision can only be made with current, accurate data. To that end, Vroozi’s Purchasing Manager makes it easy for managers to set a spend budget, review and decide on requests, and track spend at any given moment (and on any device).
Tip #3: When definitive action is taken, learn from the result and then plan the next move. Remember, business success is a series of patient interim steps, not giant wild leaps.
Our take: One of the major decisions facing procurement leaders today is the inevitable switch (or at least it’s perceived as inevitable) to the cloud. That is, when will their organization shift to a cloud-based procurement platform? That is one example, but it’s especially relevant to Vroozi, who makes it easy for businesses to make the cloud transition by taking “a series of patient interim steps, not giant wild leaps.” To learn more about the cloud transition process, check out this previous post.
Do you have a tough procurement decision to make? Let us help.