Tips to Transform Your Business into a World-Class Procurement Organization - A SpendEdge Whitepaper
Aug. 22, 2018
LONDON--(BUSINESS WIRE)--Aug 22, 2018--SpendEdge, a global procurement intelligence advisory firm, has announced the completion of their most recent whitepaper on . A few years back, the functions of procurement revolved only around identifying and procuring goods and services that helped elevate business’ offerings. However, procurement functions have evolved over time and now act as a key enabler to the generation of incremental profits across industries. This whitepaper offers detailed procurement insights that will help you identify the steps involved in transforming businesses into world-class procurement organizations.
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Tips to transform your business into a world-class procurement organization (Graphic: Business Wire)
According to the procurement experts at , “Organizations have realized the importance of transforming its procurement functions beyond the traditional business functions in order to play a more strategic role within the organization.”
Tips to transform your business into a world-class procurement organization:Focus on the right skills and capabilities – It is essential to identify procurement experts that have held high corporate positions, as this will help raise the bar for procurement while helping organizations realize the importance of focusing on their key abilities. Understand the operational mandate – Understanding the operational mandate is a pre-requisite for transforming your business into a world-class procurement organization. It revolves around educating enterprise-level firms about the procurement offerings and its benefits. Invest to achieve desirable outcomes – Being a subset of finance functions, a world-class procurement process is the same as a peer to finance with its own directive to support the business functions. To read more,
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SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
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