New Force Emerges to redefine Strategic Procurement

iDDea procurement powerhouse

to deliver value to buyers that goes beyond just cost savings

iDDea powerhouse

Award Winning Irish sourcing company, e-Quiddity and Procurement Consultants, IDD Consult have merged to form iDDea – The Science of Value™.  iDDea 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. “Delivering only cost savings is a short-term approach, and in fact can be counterproductive to the strategic objective of any organisational growth”, according to David McKevitt, Academic Director in UCC for Management and Marketing.

The methodologies that iDDea implements are based on empirical evidence from engagement with many large and small enterprises. David Fallon, Procurement Manager in Liberty Insurance agrees, “We worked with iDDea to deliver a new centralised procurement model that was warmly received across our business and is delivering savings to our bottom-line.”

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.

Commenting on the merger of the two companies, “The iDDea Team have been an instrumental part of our business, constantly innovating to deliver sustainable value”, says Mike McGrath, CEO, of Arvo. “The iDDea approach is refreshing and results-focused and clearly based on a wealth of experience across many major industries and sectors”.

About iDDEA – The Science of Buying™

iDDea is a full life-cycle strategic sourcing partner, from spend optimisation to e-tendering to supplier relationship management.  Through its consulting, execution and training services, iDDea enables companies to reduce costs, to increase organisational velocity, and to improve its relationships with suppliers.

IDDea is a powerhouse thanks to its team of accredited procurement professionals and global industry partners. Clients include Altify, Arvo, Bord na Móna, Cork Chamber Business School Group, Irish Rail, Musgrave, Manchester City FC, Liberty Insurance, TreePro, and University College Cork.

You can view our video explaining a bit more about how this merge will bring new benefits to our clients.

For more information about the company please visit iDDea and learn about the science of value.

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