Manage suppliers and automate supplier management
The absence of centralised records means that the same supplier might be duplicated many times across the business, or suppliers themselves have no actual interface with the business's core systems for invoicing or tracking purposes. The business is constantly reacting after the event rather than managing suppliers proactively. Not only is this driving up the cost of procurement at every stage, it is threatening the survival of businesses.
Driving an
automated system-based supplier management strategy across an organisation that will rationalise records and provide a platform for leveraging the cost and efficiency benefits of improved supplier relationship management could be the difference between success and failure – or even survival.
Using an automated system to categorise suppliers and classify goods and services means that everybody in the procurement chain can find what they need, based on the right engagements with their required categories. Automation also removes the need for manual supplier record maintenance - another daily cost that can be removed. The
Accounts Payable department is liberated from the paper chase to focus on invoicing and revenue gathering.