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Spend Control Insights: Issue 1

In today's economic downturn organizations of all sizes, locations and industries are looking at cost-cutting measures to sustain net income.

However, short-term tactics such as staff layoffs create little in terms of long-term value or sustainable savings. Organizations must take a broader view of how they manage corporate spend and, in particular, discretionary indirect spend.

Mature organizations that create efficiencies across their procure-to-pay cycle are much more able to create a long-term strategy for maintaining shareholder value.

So, consider how effective your procure-to-pay processes are. Ask yourself these questions:

• Do your staff buy items or services in an ad hoc fashion that results in
  premiums being paid?
• Can managers effectively manage their budgets and keep track of
  purchase commitments?
• How many suppliers do you purchase like-items from but at different prices?
• How many individuals need to touch the purchase order before it can be sent?
• Do you know how much it costs to collaborate and transact with suppliers?
• Are Accounts Payable chasing an endless trail of paperwork?

The focus must be to get as much discretional spending as possible under control. But more importantly, to create a new wave of efficiency for your organization.

This edition of Spend Control Insights, from PROACTIS, explores some of the most common questions involving eProcurement adoption and maximizing return on investment.

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