Countless pages of paperwork needing to be processed and filed? Difficult communication with suppliers? Value leakage at a far higher rate than expected? Struggling to keep track of all the contracts and invoices that need to be paid? These are just some of the common challenges facing Chief Procurement Officers and their teams.
Business automation tools can help to resolve all of those and more, ensuring that procurement officials can combat the issues which blight their day to day working lives. By easing processes from start to finish, these solutions are a much needed part of any procurement work kit. Elements such as Enterprise Content Management and a Document Management System are increasingly becoming fundamental parts of the procurement puzzle that companies must consider when looking at how to make their department as dynamic and strategic as possible.
Representing anywhere between 50% and 80% of the total cost, according to a PWC report, optimising a business’ procurement costs is one of the most fundamental ways of cutting total costs, meaning that firms can either drop prices to compete or, even better, grow their profit margin.