Procurement

Increasingly, organizations must find ways of doing more with less — to compete effectively in the new economy and to maximize bottom-line value. But is your organization’s procurement strategy as connected as it should be? How can your organization save money, create efficiency gains, increase compliance and reduce risk?

Gaining control and visibility of your Purchase-to-Pay process is a big step towards realizing the benefits of spend management, including better control of budgets and consistent compliance with purchase authorization policies. But it doesn’t stop there. Strategic procurement lets you control and achieve greater value — adding visibility and real-time insights to procurement and payables.

Why does strategic procurement matter?

With strategic procurement management you can reduce cost of the goods and services your organization buys by channeling a higher percentage of purchases to preferred suppliers, contracts and sources that offer the lowest prices and best overall value. And that delivers greater bottom-line performance. It requires genuine partnership between finance – CFOs and senior procurement managers to join forces in refining procurement policies, make fundamental improvements and change organizational attitudes to drive savings and meet the demands of the new economy.