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Fine Tuning the Procurement Symphony with Source-to-Pay Automation – Part 2; Savings and more..

By Roshnee
In Procurement Technology
Dec 24th, 2013
0 Comments
3839 Views
“I will honor Christmas in my heart, and try to keep it all the year.” – Charles Dickens.

Zycus wishes you ‘Merry Christmas!’

Coming back to procurement, we started out with three reasons justifying why source-to-pay automation is good, in our last blog. Moving on let’s talk about the next three.

  • Standardizing and streamlining the procurement process

More often than not, procurement processes are fragmented. This is eliminated by deploying source-to-pay technology which standardizes and streamlines the entire procurement process. The procurement execs can conveniently get all the required information, be it about a particular supplier’s performance, or the updated contract with the incumbent supplier, or spend in the MRO category.

  • Higher savings

With higher visibility and control over different facets of the procurement process, like sourcing activity, supplier evaluation and selection, contract terms compliance, overall spend etc., the organization can easily identify the bottlenecks and take prompt measures to resolve them. This helps in cutting costs and leads to higher savings.

  • Reduction of cycle time

Technology helps reduce efforts in terms of time and resources. A well defined and streamlined procurement process is easy to manage and provides output in a shorter time frame.

Stay tuned as we talk about the last 3 reasons in the next blog.

For further reading, click the download button below to access the e-book- “9 Reasons Why Source-to-Pay Automation is Good for your Company”

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About "" Has 160 Posts

Roshnee works with the content leadership team of Zycus. She regularly writes on procurement - trends and best practices, sometimes taking the off beat path to bring in a fresh perspective. She also drives the branding activities of her company. In her free time she enjoys hot cuppa coffee with the latest fiction book. She is an MBA in Marketing and a graduate in commerce.

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