To effectively manage their functions and budgets,
managers throughout an organisation need to have a handle on spend,
including what is being bought, from who, and at what volume and
price. In addition, procurement professionals need accurate
information for strategic activities such as vendor negotiations
and supplier consolidation activities.
Procurement involves a large number of transactions, each of
which goes through multiple stages and individuals ranging
from employees, to managers and buyers.
Hundreds of suppliers may be involved across thousands of
different items. Even when all of this detail activity is captured
electronically, people need a way to turn all of this data into the
information they need to perform their respective functions.
Busy managers also need a way of keeping a handle on all this
activity with reports, alerts, and KPIs that are appropriate to
their respective roles.