Co-creating Value and Simplifying your Tomorrow

Do any of the below sound familiar?

• Tired of time-consuming procurement processes that involve multiple stakeholders?
• Unwillingly having to deal with inefficiencies and delays in the procurement cycle?
• Unable to go beyond functional processes like Finance or Procurement to business processes like ‘Procurement to Pay’?
• Is it a big challenge to track progress and identify bottlenecks, due to multiple touchpoints, from requisition to payment in procurement?
• How to ensure compliance when the end-to-end visibility in a procurement process is missing?
• Is it frustrating that despite possessing so much precious data – volumes, prices, deliveries, credit terms, payment records, supplier performance metrics, contract details, etc. – no analytics can be run to give information as the data is scattered across multiple pockets/ systems, making it challenging to access and analyze?
• Is simplifying complex supplier relationships almost an impossible task?
• Still doing manual data entry and manual approvals? Hence, having to live with error-prone and time-consuming results, leading to increased costs and delays.

?Procurement processes involve a range of complex tasks and activities, which can be challenging to manage efficiently. Process consolidation and optimization can help businesses to address almost all the challenges in procurement processes. By optimizing procurement processes, companies can drive greater efficiency, productivity, and cost savings, while improving supplier relationships and compliance.

?Have you tried process consolidation and optimization to solve the above challenges?

1.??????Inefficient processes?

Streamline processes, reduce cycle times, and eliminate redundancies, resulting in greater efficiency and productivity.

2.??????Lack of visibility?

Gain greater visibility into the procurement process, enabling them to better manage supplier relationships, track delivery times, and monitor compliance.?

3.??????Data silos?

Consolidate procurement data into a ‘single source of truth’, enabling them to gain deeper insights into procurement performance and identify opportunities for improvement.

4.??????Complex supplier relationships?

Harmonize supplier management processes, such as onboarding, performance tracking, and contract management, resulting in more efficient and effective supplier relationships.

5.??????Manual processes?

Automate routine tasks, such as purchase order creation, invoice processing, and supplier payments, resulting in greater efficiency and accuracy.

6.?????Have tried to do the above consolidation and optimization initiatives, but do not have the headroom or in-house capabilities and expertise to create a contextual roadmap and execute?

OR

7.?????Have consolidated and reaped benefits initially but optimizing the processes over a period of time involves constant expertise and bandwidth?

?If you answered ‘Yes’ to either 6 or 7, the time is right to think of an Innovative Operating Model, that will give you your precious time and the intelligence which you can utilize to grow.

?An ‘Extension of your business’ operating model or a ‘collaborative approach’, what is it that you would like to explore?

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