Spend Management solutions and tools for Retail organizations

Taking efficiency and profitability to the next level in the face of intense competition has never been more important

This is a challenging time for retailers. And it's a tough time for retail sector Finance and Procurement leaders. Suppliers are increasing costs, consumer sentiment and omni-channel competition are pushing down retail prices, and everyone is looking to shore up margins.

You’ve probably developed pretty mature procurement processes – especially for your GFR (Goods for Resale) spend. At the same time, you probably recognize that the low-hanging fruit within your GNFR (Goods Not for Resale) spend has already been harvested and you need to focus on broader transformational programs to really drive down costs.

The Purchase-to-Pay (P2P) framework for indirect spend is a whole different ballgame. Your Accounts Payable (AP) process is almost certainly still costing more than you know it should. And across the board, supplier relationships may not be as good as you would like. All of these areas have their unique challenges. And, you can never let up on any of them.

There's a clear path for retailers to take

Transform the way you source, purchase and pay for all the goods and services required to run your business. Simply apply the right tools and practices to your respective GFR and GNFR activities.

Take your efficiency and profitability to the next level - effective procurement and spend management can be more ingrained and enabled in your organization’s daily operations, such as strategic sourcing events for all types of GFR and GNFR categories, better management of supplier contracts and relationships, a control framework for the P2P process, and transforming the AP process.