Looking to move into the Spend Management sector?

Blog - Looking to move into the Spend Management sector

If you have noticed the increase in the use of the various forms of procurement technology in recent years and wondered how you might move your career into that sector, the information in this article is geared towards helping you.

There are several significant factors that could encourage you to consider a career move into the sector:

  • There is a skills shortage in key areas of the spend management sector.  It covers roles demanding implementation, delivery and/or sales experience.
  • All the signs point to the use of technology being a critical part of procurement in future and the growth in the sector is already very impressive.
  • This technology is at the heart of corporate transformation projects around procurement and finance.
  • The big consultancies are jostling for position in a fast growing market – they will need to hire more people in the next few years.

What Transferable Skills Are In Demand In The Sector?

Given the skills shortage that exists at present and some employers are focused on hiring excellent people with transferable skills that they can develop.

If you have a background in Procurement, Finance, Consulting or Technology Sales there could be organisations in the sector that are interested in you.

What other skills do you need?

  • Finance people – some knowledge of P2P and/or ERP systems like SAP or Oracle
  • Procurement people – exposure to e sourcing, P2P, SRM and/or analytics
  • Sales people – proven track record in SaaS or ERP sales
  • Technology people – experience in cloud based B2B platforms or similar.

Personal qualities

In addition to some transferability of your professional skills, it is vital to have the right mix of personal qualities.

Excellent inter personal skills – many of the best roles are client facing.

Consulting skills – analytical, problem solving, designing solutions, gaining consensus for change, ability to train and develop staff.

Drive, ambition and desire – many of the companies are still relatively small. They need people who fit their business culturally and in terms of their longer term aspirations to grow market share, develop their systems and technology.

In many companies that are growing quickly, these personal qualities and the ability to fit into the team are at least as important as relevant experience.