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Speeding up Procurement Savings without the Fear of Crashing

According to Zycus’ “Pulse of Procurement 2018” annual research report, 54% of procurement leaders prioritize Cost Savings as their key-focus area. In fact, Cost Savings was the number one focus area (63% of respondents) in “Pulse of Procurement 2017” as well.

Though “Cost Savings” is usually the top-most priority of procurement departments, they cannot lose sight of the risks that are associated with savings opportunities. Efforts towards accelerated savings must come with efficient risk-mitigation strategies as well.

This whitepaper addresses the concerns regarding procurement savings and the associated risks by covering the following topics in detail:

  • Defining savings in procurement
  • Ways to identify and capture savings
  • How risks affect procurement savings
  • 5 steps to mitigate risks that affect procurement savings
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According to Zycus’ “Pulse of Procurement 2018” annual research report, 54% of procurement leaders prioritize Cost Savings as their key-focus area. In fact, Cost Savings was the number one focus area (63% of respondents) in “Pulse of Procurement 2017” as well.

Though “Cost Savings” is usually the top-most priority of procurement departments, they cannot lose sight of the risks that are associated with savings opportunities. Efforts towards accelerated savings must come with efficient risk-mitigation strategies as well.

This whitepaper addresses the concerns regarding procurement savings and the associated risks by covering the following topics in detail:

  • Defining savings in procurement
  • Ways to identify and capture savings
  • How risks affect procurement savings
  • 5 steps to mitigate risks that affect procurement savings

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