VMS for Procurement
Procurement is a key element of the modern, global supply chain. While many companies may have sufficient control over the major drivers of their indirect spend, few have the time, the staff, or the internal framework to focus on the many separate tasks related to smaller scale, high-volume, non-preferred supplier spend. It’s the long tail phenomenon, as small supplier and lower-level spend comprises a large portion of the total.
Fortunately, Work Nexus is equipped to handle and optimize Procurement Process Outsourcing (PPO), resulting in a scalable procurement program that automates invoicing, streamlines communication with your suppliers and actualizes your cost savings.
Spend and activity analysis across multiple clients has revealed that many procurement groups spend the majority of their time executing low-dollar transactions; in some cases, this equates to more than 70% of the existing procurement activity. This results in opportunities for strategic buying strategies and cost savings being missed. Further, limited visibility into granular low-level spend also generates increased costs and liability risks.
For this reason, we focus our PPO services on developing high-impact strategies, streamlining processes, standardizing terms and conditions and, ultimately, reducing costs.