There are many advantages to having your purchasing process run smoothly. There is always room for improvement. Optimizing the purchasing process can save you time and money. The faster and more efficient the process, the better. But how do you do this? We will tell you that in this blog.
The purchasing process
The purchasing process is the process in which everything that has to do with the purchase of services or products is mapped out. We divide this process into 6 steps:
By outsourcing direct purchasing, you can focus on core activities. This way you keep full control and you continue to determine which products and/or services are purchased. And also from which suppliers and under which conditions. You have it all in your own hands, but the indirect purchasing is outsourced.
A purchasing process can be organized more efficiently by means of a source-to-pay service. From sourcing to payment. Everything is organized more efficiently for you. This saves you a lot of work, such as a lot of paperwork and manual actions. In addition, you reduce the supplier base by up to 80% and you lower the TCO. TCO is an abbreviation for Total Cost of Ownership. That is the total amount of costs for the purchase and operation of a product or nothing. Of course you want to keep this as low as possible. Source to pay provides 360-degree insight into performance and expenditure. This is different with purchase to pay, this is limited to an analysis of the purchased goods. For example, supplier satisfaction is not taken into account.
By optimizing the purchasing process of your organization, you ensure that the TCO will be reduced, everything becomes more efficient and you can fully focus on the core activities of your business.