November 14, 2023
Kenny Rogers once had a popular song where he sand, “There’s time enough for countin’ when the dealin’ is done.”
Well, there was a lot of spending during Covid and now is the time to reflect on how we could have optimized that spend.
In the studio today is Tom Voshell from Coupa. He will bring a new perspective on how to efficiently allocate resources. The focus is not on shopping for the best price; the emphasis is to admin that acquisition is a complex process and systems should be administered to make sure the spend is optimized.
The initial example he gave was the four billion dollars that is spend annually by the GSA on P cards. When used properly, this spend can result in a 25% savings. Combine that with properly administered points, this can allow an agency to have funds for much needed equipment or services. Tom Voshell details the difference between a proactive and a reactive spend.
"By rogue spend is I'm spending something without the knowledge of how I could have saved money for that purchase"
In another example, if a person in Utah wanted to get landscaping, they may select a company. Perhaps they did not know there was already in place a negotiated agreement between the federal government and a local landscaping company.
There was no malice intended, but it is possible that the person making the decision had no idea about systems and procedures for getting a job done.
Tom Voshell recommends an approach that is systematic and user friendly. This is the way to optimize existing funds as well as leverage any benefits from using cards to purchase goods and services.
If you enjoyed this article, you may want to listen to Ep. 101 How to Leverage Your Podcast Appearance
John Gilroy
John Gilroy appeared on National Public Radio in Washington DC for 25 years. He wrote 523 technology columns for The Washington Post. Currently, John is an award-winning lecturer at Georgetown University. Forgot to mention — he has recorded over 1,000 podcast interviews.
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