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// E-procurement, spend management

An e-procurement, spend management software is not a novelty. Such products have been on the market for nearly two decades. However, none of the existing solutions have met expectations for three main reasons.

  1. They were not used extensively. The software never reached critical mass to enable procurement and financial departments to achieve the desired level of spending.
  2. Apart from biggest companies, available software has been mostly unaffordable for potential users and middle-sized companies..
  3. Lengthy implementation time and cost overruns have hindered successful software adaptation.

In today’s cutthroat competition, procurement managers are not just tasked to conclude favorable supplier contracts, but also support financial managers and company executives with solutions to help them control costs and spending.

By introducing spend management today:

  • 59 percent cost savings in the requisition-to-order process
  • 84 percent less time commitment
  • 38 percent improvement in procurement controlling
  • 40 percent less maverick buying

// Flexible workflow

The multilevel, easy-to-customize approval management workflow is a standard feature. There are a number of ways in the system to create an approval chain that reflects the structure of any company, including individual cases. The requester always has a view of the approval chain before submitting the requisition, which easily identifies the executives needed for approval.