Coillte Selects PROACTIS for Finance & Procurement Transformation
PROACTIS, a global Spend Control and eProcurement solution provider, today announced that Coillte, a commercial company operating in forestry, land based businesses and value added timber processing operations, has selected its Procurement and Purchase-to-Pay software suite.
The Coillte Group owns over 445,000 hectares of land, about 7% of the land cover of Ireland, and are certified by the Forest Stewardship Council. The group has annual turnover in the region of €250m.
As part of an overall transformation of the business, Coillte developed a set of initiatives for a Finance Transition Project. This included requirements to enforce superior spending practices and identify where inefficiencies are occurring in the procure to payment process. Kenneth Joyce, Procurement Manager for Coillte, commented: "PROACTIS was selected to transform the process from the sourcing and management of suppliers, procuring goods and services, through to payment. The scope of the project will address business processes internally within the Finance Division, across operations within the company and externally with suppliers of services and goods."
The team conducted an extensive evaluation of the market and finally selected PROACTIS Spend Control and eProcurement solutions, which have been designed to simplify and manage financial and procurement processes and make the touch points with any core financial and operational systems limited and non-invasive.
Simon Dadswell, Marketing Director of PROACTIS, said: "PROACTIS will deliver savings by eliminating inefficiencies in spending and improving sourcing/ negotiations, complying with supplier contracts, and prevent "maverick" spending. It will also deliver process ROI by improving cycle times, work-flow processes, and streamlining operations. Ultimately, this will free up resources and enable a focus on growing the business rather than back-office administration."