Understanding Procurement for Sales Executives
Competition for business is stronger than ever and sales teams are struggling to meaningfully influence the complex procurement process at times.
Responding to Requests for Tender are both time consuming and costly. Without a clear understanding of what constitutes ‘value’ for the buyer, dealing with procurement can be a mystifying and frustrating experience for sales executives.
In most cases, by the time the tender is released to the market, the opportunity to influence Procurement has passed. By increasing your sales team’s understanding of the procurement process and uncovering deep customer insights, sales teams will be able to respond to RFTs more effectively, refine their Customer Value Proposition (CVP) and more successfully influence procurement outcomes. Procurement has passed. This in turn will create greater value for both the supplier and buyer post the awarding of the contract.
Australia’s leading advisor on procurement best practice, The Faculty has experience working with both the buy-side and the supply-side. We have previously partnered with sales teams to deliver category insights, ‘procurement 101’ training and communications advice on improving the CVP.
By engaging The Faculty, expect your sales team to:
- Understand the procurement process to more successfully navigate buyers’ sourcing events
- Learn to speak the language of procurement
- Understand the evaluation criteria used by Procurement to source different categories
- Understand how Procurement quantifies ‘value’
- Influence the procurement process, particularly in terms of the decision to go to market
- Identify heat-points in the buyer-supplier relationship and address these
- Refine and validate your CVP to Procurement
- Develop tender responses that are compliant and supported by cost models and case studies that are more meaningful to Procurement