In this post Simon Fowler, Managing Director of the Commercial Division at Advanced Business Solutions (ABS), describes how their strategy of collaborating with best-of-breed providers delivers an optimised purchasing process.
Organisations are under more pressure than ever to cut costs and deliver efficiency savings within the procurement process. Smart procurement can provide many thousands (and in some instances, millions) of pounds cost savings, especially for those businesses that are still procuring goods in a manually-intensive manner with little method, control and transparency.
Automating the procure-to-pay (P2P) process from sourcing the goods and services through to paying the supplier is vital in a cost-conscious climate.
Automating P2P is inherently cost-effective, removing time-consuming administration. Procurement automation also delivers greater control over spending and eliminates maverick purchases. An automated record of orders, approvals and payments ensures financial visibility and errant activities can be monitored.
Furthermore, procurement automation can help organisations to deal with the increasing regulatory bind associated with corporate governance. Manual processes are inherently error-prone and open to abuse. Moving towards automation can ensure procurement is carefully managed and the risk of fraud is reduced.
Advanced Business Solutions provides a range of systems to automate procurement and enable effective P2P including financial management systems, purchase requisition systems for electronically raising and authorising purchase orders, and document management technologies to remove the paper from the procurement process.
Whilst Advanced provides a comprehensive procurement offering, the company also recognises the importance of partnerships in order to provide customers with an end-to-end, best of breed procurement solution. After all, no single IT company has the ability and capacity to deliver everything that a customer may require, from consulting and end-user training through to all types of software systems.
Collaborating with specialist IT providers, such as Science Warehouse, is key to filling the solutions gaps, ensuring that the customer has access to best of breed solutions from just one main IT provider.
With Advanced’s procurement and sourcing solutions combined with Science Warehouse’s eCatalogue technology and solutions and services from Advanced’s other key partners, organisations can enjoy a streamlined and automated approach to procurement, which can produce big wins for the business.
Moving to an end-to-end automated and integrated procurement solution is never an easy decision, especially when the cost of implementing new technology is hard to justify. However, the business benefits, including significant cost and efficiency savings, should reassure organisations that this is a move that would be worth every penny!
We’re grateful to Simon Fowler for his expert contribution. Please feel free to post your comments in response below.