Marketing and procurement can collaborate
Aligned goals lead to reduced spend and increased efficiency
There is often a dissonance between marketing goals and procurement goals, which can lead to wasted spend, lack of transparency, inefficiency, and poor communication.This may cause a lack of trust between marketing and procurement, and the dreaded problems often seen around the involvement of procurement in the marketing supply chain.
The key question is how procurement and marketing groups can achieve their goals amicably, and how their efficiencies can be generated and maintained without compromising on the brand. The following list describes how this can be achieved harmoniously:
Review the current processes
Procurement and marketing can build a better business case by reviewing current processes and auditing previous transactions from various parts of the business, which will lead to applying the appropriate solutions.
Securing leadership support and ensuring that marketing buys into procurement objectives, and that their needs are met, will help achieve the goals of both groups.
Technology has a big part to play, and it is critical that both groups evaluate their current marketing supply chain to decide where uses of technology can add value. Whether it’s in the management and workflow of digital assets, or the access to reporting on various aspects of marketing spend, technology can help to increase efficiency.
Global brands utilizing the HHub, e-procurement, and creative technology production application to simplify and streamline every aspect of marketing execution.
It’s important for procurement to establish KPIs with suppliers to ensure that they continue to measure and evaluate their performance throughout the life of the contract. By implementing the HHub’s measurement and reporting tools, HH Global clients have ongoing visibility to reporting that enables best practices, which mitigating risk.
To learn more how bringing an execution partner can align the goals of your marketing and procurement teams, contact us here.