What followed was a process where both parties worked to develop their processes; SiriusXM around its emerging procurement function and Levelpath its platform. “We figured out what was the least amount of information we needed to do our job without over-bloating the system and the required input from the business,” says the VP of Strategic Sourcing.

The approach taken by both parties was to start with live requests and develop the product and processes as they went. To date at SiriusXM, there have been more than 200 projects completed, and that’s expected to rise to close to 300 by the end of 2024.

Much of this has been the result of a shift in focus for SiriusXM, which has led to a major technology overhaul. “Historically, new revenue and subscribers were all tied to new car sales,” explains VP Strategic Sourcing. “But after Covid hit, the supply chain disruption started, and that was when we realized we were too reliant on the car market.

“This realization prompted a company-wide transformation to modernize our technology infrastructure,” VP Strategic Sourcing continues. “Procurement had to rebuild SiriusXM’s entire tech stack from the ground up within a year. This wasn’t a lift-and-shift; it involved a complete overhaul, including replacing vendors, tools, and all associated contracts.

Currently, Levelpath is primarily utilized for technology procurement and products at SiriusXM. However, the VP Strategic Sourcing anticipates a significant increase in contract volume over the coming year. “Our next step is to expand into other business areas, particularly marketing,” they explain. “If we implement Levelpath for marketing, ad sales, and similar departments, we could potentially be managing thousands of contracts.”

The VP Strategic Sourcing further notes that as of March 2024, the procurement function has been tasked with overseeing purchasing for the entire enterprise. However, with a procurement team of 16 members, he acknowledges that they have only begun to address the full scope of company-wide spend. This expansion represents both a challenge and an opportunity for the procurement team to demonstrate its value across the organization.

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