PROACTIS, the Spend Control and eProcurement specialist, today announced a campaign that helps organisations to assess their operational and financial performance and the way they buy all types of goods and services. It helps them to gauge if they are extracting the maximum value from their Spend Control processes in order to reduce costs, improve financial control and mitigate risk.
"Effective Spend Control establishes consistent, streamlined processes to identify, capture and control all forms of spend. It has a tremendous positive impact on your cost structure and competitive position" said Simon Dadswell, Director of Marketing, PROACTIS. "Every reduction in spend is translated into pound-for-pound improvement in profitability – a much greater percentage increase in revenue would be required to achieve the same effect on financial performance."
The campaign titled "Take the 3 Step Cost Reduction Challenge" consists of a number of online videos and calculators that address a range of issues that organisations without effective Spend Control usually find are limiting their operational and financial performance:
- High cost structure
- Difficulty managing financial position
- Excessive risk
In this cost control campaign, PROACTIS is offering some basic tips that help organisations to achieve the highest level of Spend Control performance. It covers all of the key elements:
- Strategic sourcing and contract management processes that ensure maximum value and cost savings
- Supplier management processes that ensure a smooth flow of goods and services while minimising any possible risk to the organisation
- Management of daily purchase activity in a way that enables staff to get what they need in a controlled environment
- Efficient invoice processing that reduces the cost of Accounts Payable operations