806: Building a Leading Services Procurement Capability at Mastercard

"Change is about first having an awareness. Once you have that awareness, then that other party that you're trying to drive that awareness has an understanding. And when that understanding is there, then they're motivated to take action." Pratik Patel, Director - Category Management - Labor/North America Technology Spend, Mastercard Services procurement can be a rewarding field, but it also has some unique (and fairly complex) challenges that require procurement to develop a strong approach to spend and performance management.  In this episode, Philip Ideson speaks with Pratik Patel, Director - Category Management - Labor/North America Technology Spend at Mastercard, about his own experience transforming technology services procurement from a decentralized, inefficient process into a streamlined, data-driven program that delivers unprecedented business value.  Pratik walks listeners through:  Four key requirements for successful outcome-based contracting How to use lean methodology to identify pain points in the procurement process and build buy-in for transformation Steps to build scalable services procurement processes that create efficiency, stakeholder trust, and value for the business  Links: Pratik Patel on LinkedIn Business Waste: The Silent Value Killer W/ Pratik Patel Subscribe to This Week in Procurement Subscribe to Art of Procurement on YouTube