Optimization of purchasing processes – trends for 2019 part II
A key element of supplier management - IT system
IT systems will bring a number of important benefits and investments aimed at implementing the best solutions will be one of the key elements of the supplier management strategy.
In which areas will be used? It's worth focusing on three key benefits:
Savings
A modern IT system allows and will still allow you to save money. Thanks to its implementation, it is possible to automate many recurring processes in the entire purchasing cycle (Procure to Pay - P2P), and this in turn makes it possible to free resources in purchasing departments and redirect them to activities generating more added value.
Detailed supervision over key cost and quality parameters.
Modern IT solutions are also irreplaceable in the process of monitoring cost and quality parameters. Thanks to a coherent and comprehensive control system, it is possible to quickly identify and eliminate process steps exposing the company to inefficiency and resulting in less market competitiveness.
Instant access to data
IT systems used in the purchasing area allow access to all key data in real time. As a result, high-level managers have immediate access to information and analysis on key areas of their business.
The results of analyzes can be used in commercial negotiations or supplier development programs.
The customer in the spotlight thanks to "agile" purchases
All the benefits described above make up one more value for each company - increasing the positive experience of customers by increasing the "agility" in the area of purchasing. Modern IT systems enable making quick and accurate decisions, thanks to which it is possible to focus on the changing needs of clients and time to market.