The SIG One-Day Dallas event was a powerful showcase of innovation and collaboration in procurement, and Levelpath was honored to share the stage with SiriusXM to discuss procurement transformation. With insights from Trasha Collins-Reed, Director of Sourcing + Partnerships at SiriusXM, and Mari Carmichael, Head of Solutions Consulting at Levelpath, our session provided a roadmap for navigating the complexities of modern procurement.
The Journey to Procurement Excellence
During our session, we explored how procurement has evolved from a fragmented, manual process into a strategic function capable of delivering enterprise-wide value. SiriusXM’s journey was a testament to the challenges that many organizations face—complex contract approval workflows, lack of visibility into agreements, and inefficient procurement processes.
Trasha highlighted the pain points that SiriusXM encountered, including managing multiple platforms for contract lifecycle management, inefficient approval workflows, and the risk of accidental contract expirations. These challenges underscored the urgent need for a streamlined, technology-driven procurement solution.
Why Levelpath?
In response to these challenges, SiriusXM sought a solution that could modernize procurement while ensuring compliance with evolving regulations like CCPA. The organization initially experimented with temporary fixes, such as Google Forms, to capture procurement requests. However, it quickly became clear that a more comprehensive and scalable solution was required.
Levelpath provided the answer by delivering a seamless, end-to-end procurement platform that enabled rapid adoption and transformation. Within weeks, SiriusXM successfully processed 40+ procurement requests, significantly streamlining its workflows.
“What attracted us to Levelpath was the ability to work alongside them in collaboration to identify the best way to onboard an intake system for SiriusXM’s contract management process,” shared Trasha Collins-Reed.
Transforming the Intake Process
One of the most impactful changes post-Levelpath implementation was the transformation of SiriusXM’s intake process. Before Levelpath, agreement identification was a time-consuming, manual task with limited foresight into upcoming renewals. After adopting Levelpath, SiriusXM gained full visibility into contract management, resulting in a more efficient and proactive approach to procurement.
Key Results and Efficiency Gains
The collaboration between SiriusXM and Levelpath produced remarkable improvements, including:
- Faster procurement cycles: Reduced cycle times and improved SLAs.
- Enhanced vendor management: Reduced new vendor requests while managing higher contract volumes.
- Policy compliance: Seamless verification and zero downtime during policy updates.
- Improved productivity: Increased bandwidth transparency and quicker onboarding for new team members.
- Leadership oversight: Greater transparency, self-reliance for stakeholders, and improved decision-making.
Among the standout features of Levelpath, Trasha highlighted the AI Assistant functionality: “The Assistant efficiently summarizes SiriusXM order tickets, allowing me to quickly share essential information with legal, finance, and privacy teams.”
Lessons Learned: The Power of Strategic Partnerships
A key takeaway from our discussion was the importance of selecting the right procurement partner. SiriusXM’s ongoing journey with Levelpath is defined by:
- Collaborative roadmap development: Aligning long-term visions and objectives.
- Enhanced competitive advantage: Increasing market reach and credibility.
- Open communication: Engaging in two-way feedback for continuous improvement.
- Innovation and adaptability: Embracing AI and mobile-first solutions to stay ahead.
Looking Ahead
The event reaffirmed that procurement transformation is not just about technology, it is about the right partnerships, strategic vision, and continuous innovation. As AI and automation reshape procurement, organizations that embrace these changes will be well-positioned for success.
Levelpath is dedicated to guiding enterprises through the intricate landscape of procurement transformation, empowering them to discover unprecedented operational efficiencies. We extend our heartfelt gratitude to all participants who attended our recent session. We are excited to continue our dialogue and collaboratively advance procurement excellence. To learn more about SiriusXM’s transformative experience with Levelpath, we invite you to visit our website.
— Amanda