- Do the right people really have control of what they are buying?
- Do managers have enough visibility of commitments to properly manage
- Are they getting the best value for what they are spending?
- Are they properly managing the payment process?
- Are they as efficient as we can be?
Simon Dadswell, Director of Marketing at PROACTIS said: "Almost all organisations can benefit from improving how they manage corporate spend.
"Those purchases that are a necessary function of keeping their organisation 'up and running' and the costs of doing business that seem to eat away at the bottom line. We have created this guide in support of senior financial managers who need to create an end-to-end vision for corporate spend control, especially in challenging economic times."
"This guide offers finance specialists a practical way to get started in the pursuit of cost savings. Whilst many of these executives may not be directly involved in the procurement process on a day-to-day basis it is essential they understand how much expenditure and organisational resource is involved in the daily purchase-to-pay cycle. Few finance teams have the necessary visibility or controls to manage the cost pipeline and tap in to available savings," continued Simon.
Reports from leading industry analysts demonstrate the benefits that can be achieved by tackling uncontrolled spending on indirect goods and services:
- Enterprises on average achieve a 35% improvement in spend under
management, with a 41% reduction in maverick spend (as a result of
- (With eProcurement) enterprises on average reduced their
requisition-to-order cost by approximately 48%, and more than halved
their transaction cycle times.
- Automation can help generate an average 50% reduction in invoice