The Business Need for Managing Procurement Savings
What happens when there is lack of collaboration between procurement and finance?
- Procurement objectives may not be aligned with business performance objectives
- Savings reported by procurement may not be recognized by finance
- Mapping the impact of cost savings on the balance sheet may be difficult
- Keeping a track of forecasted vs. negotiated vs. realized savings, and of cost-savings vs. cost-avoidance gets difficult
With Zycus' unique Financial Savings Management solution feature - iSave - we assure you this will not happen. Our robust tool-set helps you in tracking savings and in collaborating better with finance.
How We Help You
We start by listening to your needs.
We then empower our solution to help you meet your procurement objectives, so you have greater business impact through:
- Calculation of the impact of procurement savings on P&L and balance sheet
- Ensured transparency into forecasted and achieved savings by maintaining a single version of truth
- Mapping and automation of existing approval workflows for efficient collaboration between procurement and finance
Financial Savings Management Software Features
It helps you to track your savings and collaborate better by:
- Providing function-specific views into individual projects and associated savings
- Mapping of forecasted savings to budgets
- Offering financial savings generator
- Tracking savings across multiple parameters like business divisions, time, savings type and impact type