Procurement Software for Energy & Utilities
The long-term health of the energy & utility industry is increasingly uncertain as indicators point to slowing demand growth, diminishing access to low-cost capital and intensifying competition as distributed generation technologies continue to mature rapidly.
As utility profits experience the squeeze between mandatory investments and flat-to-declining demand growth, controlling operational costs will be a must for maintaining investor confidence and access to capital needed for long-term survival and innovation. CPOs and their teams will contribute increasingly to utilities’ profitability, credit worthiness and long-term business sustainability by:
- Engineering and implementing rapid and transparent procurement processes to gain complete and detailed spending visibility and to set operational savings targets accordingly.
- Creating and maturing comprehensive strategic sourcing, procurement and supply management initiatives that yield industry-competitive bargaining power, steeper volume discounts, more favorable contract terms and conditions and greater risk sharing with suppliers.
- Supporting industry innovation and diversification into new service areas via advanced supplier discovery, development and collaboration
To read about our procurement solutions for the energy & utilities industry, download brochure