1IGS Procurement

Financial Services

Financial Services

1IGS Procurement

Extract More Insights From Your Sourcing Data With Our New Scout Reports

Data is everywhere.

The trouble is knowing what to do with it. And for most modern sourcing teams, those three words to accurately describe the current state of their reporting.

With 1IGS, financial services companies get the oversight, key insights, and hard savings necessary to drive company performance.

Streamline Savings
Run more events and work directly with suppliers using our fast, flexible sourcing platform. Our collaborative communication tools help you quickly act upon optimal decisions.

Visibility and Insight
From tracking project progress to savings, to individual events, 1IGS Reports give you the power to get to real insights, fast. Then use those insights to chart a path to even more savings.

Simple, Strategic Sourcing
Switch from manual processes and disconnected spreadsheets to Scout’s single source of truth. Even small teams can streamline the sourcing process and get the whole business engaged.

“We eliminated the middle man and drove for more than 17 hours to the mine and had quite a bit of saving that certainly gave us an ROI on our 1IGS investment and even more” – Clive Shezi, Group General Manager


Track Savings, Engage with Stakeholders and Increase Visibility
See how 97% of 1IGS customers see more than 10X ROI within the first year of using 1IGS. Schedule a demo with our team today.

White Paper

1IGS Procurement

Align Sourcing with the GDPR

The EU General Data Protection Regulation (GDPR) is called “the most important change in data privacy regulation in 20 years.”

Its implementation heralds a new era of data regulations, and with these changes come myriad opportunities — and obligations — for sourcing.

How does the GDPR impact sourcing?

In a sentence: Third-party vendors and processors pose the biggest risk to companies adapting to the new GDPR regulations. Not only does the GDPR hold companies directly accountable for data privacy practices, but it extends that responsibility to any third-party vendors who touch personal data. Essentially, companies (data controllers) are required to enforce (through contracts), monitor (through the process), and document (through audit and controls) how third -parties are meeting these requirements. Sourcing teams will have to address these requirements through contracting, supplier performance management, and ongoing evaluation.

How can you align sourcing with the GDPR?

Sourcing can take advantage of the GDPR to drive enterprise-wide value that extends far beyond savings.

Contract Management: Update contracts to ensure that they are GDPR-compliant, and then send these across vendors. Manage contracts from a single, easily accessible repository.
Supplier Management: Perform proper segmentation of vendors based on their access to personal data. Then, validate suppliers by tier and/or segment, and build new workflows to ensure ongoing compliance.
Questionnaires: Collaborate with your organization’s security and privacy teams to regularly conduct GDPR-specific vendor survey questions. This will help ensure compliance, and make it easier to report on.

Spend Matters: What Makes Scout RFP Great.

“1IGS RFP has built a sourcing solution around how customers will interact with it. 1IGS’s modern, responsive application design and superior user experience, combined with flexible and configurable functionality… allows the tool to support a range of sourcing processes and scenarios.”

It’s true – we’re obsessed with making our customers successful, and we’re incredibly proud to see that effort reflected in Spend Matters’ most recent Solution Map and What Makes it Great. Based on their rigorous evaluation process and confidential customer reference reviews, this overview shows precisely why our customers say “1IGS RFP rocks.”

The Sourcing

1IGS Procurement

Extract More Insights From Your Sourcing Data With Our New Scout Reports.

Data is everywhere. The trouble is knowing what to do with it. And for most modern sourcing teams, those three words to accurately describe the current state of their reporting.

In most companies, data is dispersed across a vast collection of spreadsheets, hard drives, cloud storage, and stacks of paper.

Sourcing teams have struggled to do more with their data for years. At best, even the most advanced teams are simply reporting, not driving insight. And that’s an issue for CPOs looking to transform their organizations. Nobody’s goal is to report. They want to understand, to inform, and to support their recommendations with defensible data.

“Nobody’s goal is to report. They want to understand, to inform, and to support their recommendations with defensible data.” So, in true 1IGS fashion, we set out on a journey to help. We started with a simple goal: make access to sourcing data simpler, faster, and more meaningful. And today, I’m proud to share the results with you. Unlike other sourcing tools, 1IGS’s new reporting and analysis tools provide fast, easy, and flexible access to data to unlock:

  • More visibility into what’s working (and what’s not)
  • Fast, flexible insight into the dynamics of your team
  • And even better, the ability to do more with your data through Tableau and PowerBI connectors
    Not only do better reporting and analysis tools help you execute more tactics faster, but they’ll also equip you with the necessary skill sets to evolve with the business.

Extract More Business Insights with 1IGS Reports

Through the new 1IGS Reports, every activity in Scout is measurable, reportable, and chartable. From tracking project and milestone progress, to savings, to individual event reports, 1IGS Reports give you the power to get to real insights, fast.
Here are some quick examples of what you can do with these new reports:

Granular Savings Reporting

It’s simply not enough to display static data in a report. You and your team need the ability to work with the information, dig in deeper, and find the true insights buried inside. A great example of how to do this with 1IGS is by diving into the details in our Savings reports.

In addition to the high-level insights we provide through our Savings Tracker (more on that here), the new 1IGS reports make it easy to find exactly where savings are realized, where to expect the next $1M cost avoidance, and even attribute savings to specific categories or project owners. By using the new pivot table functionality, you can build these dynamic reports on the fly directly in 1IGS:

1IGS Reports

Finding Bottlenecks in the Process
When you have a matrix of sourcing events, contract negotiations, performance reviews, and on boarding activities occupying your team, how can you quickly find the bottlenecks in the process?
Helping our customers manage a complex pipeline of projects is critical to delivering the fastest path to insight.
In fact, this is where clean visualization of complex data come in handy. By combining 1IGS’s customizable milestones and project types, it’s easy to get a birds-eye view of where the process is bogging down, or where you might have resources mis-allocated. With a Milestone report in 1IGS, you can quickly see where projects slow down, or where you might have inadvertently created a backlog.

1IGS Reports

Connect 1IGS to your BI Toolset
Digging deep into your data – when done right – invariably leads to a set of deeper, harder-to-answer questions. In those cases, it’s always beneficial to have options for doing more with the data you’ve collected.

To support these advanced use cases and to give our customers more flexibility in how they use their sourcing data, we’ve made it simple and straightforward to pipe your Scout data directly into established BI tools like Tableau and Power BI. These are standard, out-of-the-box connectors, and we’ve seen customers up and running in a matter of minutes. Here’s a quick peek at 1IGS report data live in Tableau.

1IGS Reports

Beyond the accessibility and flexibility of this data, 1IGS customers have discovered some significant downstream impacts to their team. Notably, not only are category managers and analysts spending less time hunting through spreadsheets, but they’re quickly becoming more data-aware. And it’s changing how they work.

Ultimately, when you and your team have more visibility into the entire process, quick access to data on how the team is working, and the flexibility to use that data on your terms, you’re building a more agile team. And, you’ll be equipped to have more meaningful conversations with your finance and operational business partners. That’s a pretty big benefit.

I love hearing about the bigger impact data awareness can have for our customers. To learn more about 1IGS Reports and our data analysis capabilities, contact us today, or join our recent live monthly demo and see it in action.

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