HIGHER EDUCATION USE CASE
High-performing procurement for the changing world of higher education.
See how higher education institutions can use Workday Strategic Sourcing to boost efficiency, scale sourcing events, and improve bid quality while keeping costs in check.
Key use cases.
Identify sourcing needs—enable procurement teams to partner with stakeholders to establish demand for campus related spend. Use intake request forms to capture essential project details for sourcing fulfillment from stakeholders.Sourcing strategy and project prioritization—manage and prioritize initiatives, drive collaboration, and measure sourcing impact all in one place.Sourcing events—execute sourcing processes for goods and services. Set up and publish RFPs/RFIs/RFQs with sealed bid support, establish bidding activity with suppliers at scale, and determine the optimal award scenario.Reverse auctions—manage pricing for goods or services with reverse auctions, enabling suppliers to compete for bids in real time.Supplier negotiations—analyze side-by-side comparisons of supplier bids and calculate savings based on the best possible business outcomes within your supply base. Use actionable data and current market trends to provide real-time feedback to suppliers on how to improve bids.
Contract management—centralize contracts in a common repository, gaining full visibility into your entire ecosystem of agreements. Collaborate on contract creation and revisions by seamlessly integrating with Microsoft 365®.Supplier onboarding and compliance—manage onboarding and data collection activities for all downstream transactions. Ensure critical supplier data is kept up-to-date for compliance and assign risk scores based on various attributes.Supplier performance—close the loop on the sourcing process through performance management activities, including quarterly reviews and development plans.Savings validation—understand exactly where savings are realized and where to expect the next cost avoidance. Attribute savings to specific categories or project owners.
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See how we serve higher education institutions.
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