Can you outline why your team embarked on this project and the problem that needed to be solved?
Fannie Mae has been on the procurement digital transformation journey since 2013 when we first implemented Ivalua sourcing and contract management tool, called ProcureOne internally, to manage sourcing/contracting activities and P2P process. This built the foundation for the continued simplification and digitization of our work processes. This has also enabled us to weather the storm of the Covid-19 pandemic and continue serving our customers without missing a beat.
Despite what we have accomplished, we continue to seek out ways to enhance our capabilities so that we can work better and smarter. The picture below demonstrates our vision and our approach in driving procurement digital transformation. We have been methodical about building a solid foundation and have completed the Foundational Digital Platform phase by implementing ProcureOne. We are now in the Enhanced Capabilities phase with a focus on contract analytics and collaborative contract authoring capabilities.
You May Also Like…
Robert Solow: Innovation, technology – and math – make all the difference!
In anticipation of the return of Kate Vitasek’s column “The Academics of Sourcing,” Outsource is pleased to showcase some of her best articles from the archives. “The Academics of...
Steven D. Levitt: it’s all about incentives
If you walk past a bookstore or watch 60 Minutes you have likely heard of the wonderful works by the academic economist Steven D. Levitt, Freakonomics and Superfreakonomics. Levitt teamed with his journalist collaborator Stephen...
SIG|ORG Spotlight Content
