The Benefits of Procurement Outsourcing
Starting from the most obvious benefit of lowered costs, thereby increased profitability, there are several more benefits to be gained from taking on board an external procurement service provider. These include market leverage for better quality products, more and better discounts, higher knowledge of market dynamics and suppliers, better personnel, improved communication with suppliers, better management of information and more accurate purchasing analysis, and better opportunities for negotiations to make better deals.
In both direct and indirect spending, our experienced procurement professionals produce cost savings and real business value. Importantly, we concentrate on tactical buying steps like maintaining accurate spend data, optimizing payment cycle terms, eliminating invoice errors to help optimize the procure-to-pay cycle, spot buying, purchase order management, catalog management, master data management, and accounts payable to help optimize the procure-to-pay cycle.