Transaction Management

Implement proven practices to manage your procurement information and purchase to pay processes seamlessly within your existing or upgraded IT architecture. Streamline client, vendor, procurement and finance activities while maintaining effective financial control and data security.

A procurement transformation effort can reduce your costs significantly. For a typical implementation, you will see annual spend savings of 4 to 9% on services and indirect materials. Unfortunately, savings do not reach this level and degrade rapidly when transactional improvements are not included in support of a strategic sourcing effort.

Changing your procurement transactional processes is often the most difficult issue needing to be addressed during your transformation effort.  We have worked this area for many years and will accelerate your process, systems and organization deployment.

 

 

Transactional Process Standardization

Process and systems standardization in this area will reduce transactional costs by 20-30%. You should start by building out a proven Purchase to Pay process that ensures that your purchasing activities are executed in a financial appropriate manner and that costs associated with these processes are optimized.

Standardize Your Commodity Taxonomy Before You Automate

A procurement spend taxonomy is a well thought out database structure that puts spend data into groups that make it easier to obtain and analyze. When effectively deployed, a strong taxonomy will improve the effectiveness of both your tactical and strategic procurement efforts.

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