Every dollar you save on procurement goes directly to your bottom line. From the first interaction you have with a potential supplier to the time you cut them a check, there are numerous opportunities for operational cost savings. Some of the savings relate to decreasing the amount of time your team spends on purchasing, and others are direct cost savings resulting from eliminating “rogue spending” and ensuring you’re buying at the best price available. When’s the last time you analyzed your procurement process? Here are a few questions to ask yourself that can help you identify opportunities for cost savings during procurement:
- Are we taking full advantage of discounts and negotiated pricing, or are we missing out due to a lack of visibility or because purchasing isn’t standardized?
- Is the shopping process easy for our team, or do we have multiple people sourcing products independently – sometimes purchasing unnecessary, or even the wrong items at the wrong price?
- Are approvals turned around quickly, or do purchases get held up in the approval process? If a requisition is pending approval, are we able to identify who’s court the ball is in to keep the process moving?
- Do we have visibility into GL budget information during the process, or do we risk requesting/approving purchases that will exceed budgeted amounts?
While Acumatica offers core functionality surrounding requisitions & POs, for organizations with more complex processes and workflows, an advanced feature set is needed. Paramount WorkPlace’s advanced procurement functionality for Acumatica lets you speed up the purchasing process while at the same time gaining control over who’s buying what from whom—resulting in maximum efficiency and cost savings. With Paramount WorkPlace, you can:
- Handle complex approval rules or paths with mobile approval capabilities
- Speed and simplify routine purchasing through guided buying and PunchOut catalogs
- Gain better GL budget visibility during procurement
- Take advantage of OCR to reduce data entry time
And much more. If you want to improve your bottom line by getting better control of your organization’s spend, join us to learn how implementing an extended procurement solution that integrates seamlessly with Acumatica can help. Watch recorded presentation: Advanced Procurement for Acumatica Tuesday, November 19 at 8 AM PT / 11 AM ET
