Success with savings tracking (NOT in Excel) - Paul Gurr from Provalido

16-10-2024 • 31 mins

In this episode of The Procurement Software Podcast, host James Meads sits down with Paul Gurr, founder of Provalido, to dive into the nuances of building and managing a high-impact savings pipeline.

From stakeholder alignment to identifying various different savings and value-driving categories, we drill down into key strategies and share insights to give your budgeting process a nudge in the right direction this Q4.

Tune in to redefine your pipeline strategy!

How to succeed with procurement savings pipelines

Paul shares insights into how procurement can move beyond cost-cutting by embracing a structured, continuous ideation process that actively involves stakeholders from departments like finance, operations, and marketing.

Engaging these perspectives unlocks creative, value-driven solutions that align with organisational goals and foster cross-functional collaboration.

One of the key points discussed is the importance of leveraging suppliers’ expertise. Paul explains that suppliers can provide invaluable insights into market trends, innovative products, and potential efficiencies, helping organisations identify additional savings opportunities. Maintaining open lines of communication with suppliers can thus be a strategic advantage.

Paul emphasises that building a high-impact savings pipeline isn’t a one-off project; it’s a dynamic, year-round process. Provalido’s platform is designed to support this by offering a centralised space where ideas can be scored, prioritised, and tracked. This structure not only enhances transparency and accountability but also builds trust among stakeholders by providing clear visibility into the progress of cost-saving initiatives.

A standout takeaway from this episode is the breakdown of procurement's financial contributions into four categories:

cost reduction
cost avoidance
delayed cost increases
revenue generation

Paul explains how these categories require tailored approaches to maximise impact, demonstrating procurement’s ability to contribute strategically to the organisation.

Ultimately, an effective procurement pipeline goes beyond cost savings, aligning with business objectives and adding long-term value.