iDDea Redefines Strategic Procurement
1st June 2017
Award Winning Irish sourcing company, e-Quiddity and Procurement Consultants, IDD Consult recently merged to form iDDea – The Science of Value™. The newly formed entity, which is run by businesswomen, Ingrid De Doncker, combines strategic sourcing, buying benchmarks and training services to deliver value to the procurement function beyond cost savings. iDDea has redefined the benefit of strategic procurement for buyers, internal stakeholders and suppliers to realise organisation-wide value.
“I was speaking to the CEO of a mid-size company and he laughed when I told him the procurement function could add strategic value to the business”, says Ingrid De Doncker, CEO, iDDea and co-author of Inside the Buyer’s Mind: The Buyer/Seller Value Index. “It was a pivotal moment. I realised that many business leaders still view procurement as an admin function, focused only on squeezing suppliers or imposing internal policies on the business – no value add. It was the impetus to form iDDea, to combine our resources to redefine strategic procurement as a value-add function for buyers and suppliers alike.”
According to the research underpinning Inside the Buyer’s Mind: The Buyer/Seller Value Index:
62% of buyer-supplier meetings do not progress to a follow-up meeting. On a global basis, this translates to $1.4Tn in wasted expense.
63% of buyers prefer to engage suppliers early to define their needs, and those who do experience a 30% greater success rate.
iDDea has partnered with University College Cork to expose procurement professionals to methods and frameworks to increase their value to their organisations. Innovation is at the heart of iDDea’s approach to procurement. Informed by global partnerships and continuous research, the iDDea solutions combine data science, competency models, and prior successful experience to guide its customers to achieve both cost savings and strategic value.
Pictured: Cork based entrepreneur and CEO of iDDea Ingrid De Doncker, who is leading in the procurement world as she merges two companies to form IDDea. Ingrid works with large organisations such as Musgraves, Manchester City Football Club and Liberty Insurance and has partnered with UCC to train procurement professionals.