LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the launch of their latest newsletter on the strategies to gain value from the procurement process. A robust procurement process can help companies to improve the quality of their products and services and secure exclusive deals with suppliers. It can also help boost efficiency and allow companies to look for innovative products or services that they can offer to consumers.
For over 15 years, SpendEdge’s solutions have helped numerous companies to stay competitive by offering valuable insights to improve their procurement capabilities. The latest edition of SpendEdge’s newsletter will help companies to better understand different aspects of the procurement process that are crucial to realize immediate upfront cost savings. It also highlights how companies can improve their procurement process and procure goods and services at the best prices.
Unfortunately, not many businesses understand the importance of procurement's role within their organization. They end up misinterpreting contracts and increasing excess spend. This impacts the quality of goods and services and results in poor profit margins. To help companies understand the importance of the procurement process and ensure financial stability, the experts at SpendEdge have highlighted key strategies to get most of the procurement process. Download this newsletter to know how a robust procurement process can add value to your organization.
Improving the procurement process is crucial for companies to reduce excess spend and ensure long term profitability. Request a free proposal to know how we can improve your procurement process.
Strategies to Get More Out of Your Procurement Process: A Newsletter by SpendEdge
#1: Why It's Time to Improve the Pharmaceutical Procurement Process?
The rising competition on generics pricing and expensive clinical trials is creating different procurement challenges for companies in the pharma industry. Top companies are further adding to the woes by opting for better procurement management. In such a situation, it becomes critical for pharma companies to control spend and improve supplier efficiency to create more opportunities for innovation. The article lists out key benefits that companies can avail through the improved procurement process. It also shows how the procurement process can help companies in managing indirect spend.
Get in touch with our procurement experts to know how we can help pharma companies control spend and create opportunities for innovation by improving procurement capabilities.
#2: Truth About Purchasing and Procurement
Despite having different meanings, the terms purchasing and procurement are used interchangeably by most companies. To help companies understand the basic difference between purchasing, and procurement process, the article highlights how procurement is used as an umbrella term that includes several core business functions apart from purchasing. Procurement deals with the sourcing activities whereas purchasing is a transactional facet of the overall procurement process that helps companies reduce revenue spent on purchasing goods.
Improving purchasing and the procurement process requires companies to analyze spend data. Request a free demo to access our procurement platform for 7 days, free of cost!
#3: Procurement Process Steps You Need to Know
Companies find it hard to improve the procurement process. To help companies successfully manage the procurement process, SpendEdge’s experts have highlighted some key steps involved in the procurement process. Following such steps will not only help companies to successfully lower costs, enhance efficiency and increase profit margins but will also enable them to minimize order delays.
To know more about the strategies to improve the procurement process, get more info about our offerings here!
About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.
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