Procurement as a Service
With Procurement as a Service, Source One takes a truly comprehensive approach to optimizing the function and helping clients generate greater value.
Indirect Spend Expertise
We have been helping companies realize the strategic value of end-to-end spend management since 1992. As advocates for the buying team, we apply procurement best practices to all areas of indirect spend to ensure they’re getting the most out of their budgets. We’re not here to replace your procurement team, rather to supplement your resources and provide additional expertise in areas that might be outside the realm of your core business. Whether you need to gain insight into competitive services agreements, benchmark pricing, negotiate a best-in-class contract in an unfamiliar category, or develop a go-to-market strategy, our spend category experts have you covered. We aim to assimilate into your company’s unique culture and truly address your supply management objectives. Talk to our experts today to learn how we can help you better manage your indirect spend.
Comprehensive Spend Category Support
Optimize Digital Investments with Procurement as a Service
Procurement as a Service means a truly comprehensive approach to managing spend and optimizing relationships across the supply chain.
Effectively managing corporate spend means balancing priorities and occupying a cross-functional, strategic role. From analyzing historical purchases to identifying risk factors to promoting continuous improvement, it’s a lot of work for even the most mature organizations to handle. That’s why the market is flooded with so many providers and so-called solutions. P2P platforms, consulting firms, GPO, they all help answer some of Procurement’s questions.
Corcentric’s Source to Pay team is the only organization capable of offering a truly comprehensive solution. Unlike competitors they offer Procurement as a Service to fill in the gaps left by traditional platforms and advisory services alone. From demand through payment, their team of tech-enabled experts support in reaching their goals and making Procurement a valued asset within the organization.
Why Choose Procurement as a Service?
- Impact the Bottom Line: For Procurement to gain (and maintain) a seat at the executive table, the function has to prove it’s capable of driving consistent EPS and EBITDA growth. From day one, our Procurement as a Service experts assist teams in identifying savings opportunities and pursuing them.
- Mitigate Risks: Your business faces more and more potential supply chain hazards every day. Without sacrificing savings or efficiency, Source One’s Procurement as a Service providers offer you everything you need to assess the market, identify risk factors, and develop plans for navigating around them well into the future.
- Focus on What Matters: Procurement shouldn’t have to contend with paper-based, tactical processes. They should enjoy the opportunity to carry out high-value, strategic work that directly serves broad business objectives. By automating and optimizing processes across the sourcing cycle, our Procurement as a Service team empowers businesses to see the big picture and evolve in their approach to Procurement.
Typically, supporting Procurement from end-to-end would mean engaging a number of providers and optimizing a number of separate relationships. Stitching together relationships with numerous consulting firms, solution providers, GPOs, and BPOs is worse than just inefficient. In many instances, it makes it difficult for Procurement to gain visibility and establish a culture of continuous growth. We simplify things and makes it possible for businesses like yours to do more with less.
What is Procurement as a Service?
- Sourcing and Procurement Expertise: Whatever your industry or region, Source One’s Procurement as a Service team has the experience and know-how to optimize your approach to key spend categories and drive consistent value. Offering spend analysis, category management, supplier relationship management, execution support, and more, they’ll help fine-tune each stage in the sourcing cycle. With access to several GPO programs, they can even provide pre-negotiated contracts in dozens of essential categories.
- Advisory Services: Our end-to-end Procurement as a Service offering empowers organizations from the mid-tier to the Fortune 500 to refine their approach with expert advisory services. Offering support in areas like talent development and recruiting, they make it easy for Procurement to prepare itself for a new strategic era. Whether you’re in search of one-off process improvement or a holistic Procurement Transformation, they’re here to help.
- Procure-to-Pay Technology: In addition to technology selection and implementation services, we offer a Procure-to-Pay suite of its own. Their world-class, scalable solution not only frees Finance, AP, and AR from the burden of paper-bound processes, but also optimizes the Procurement cycle from procure-to-pay. Better still, they offer the support necessary to ensure the solution quickly produces its intended ROI.
- Managed Services: Procurement’s work isn’t over once a P2P tool or a new supplier agreement is put into place. Our managed service providers offer long-term, hands-on support to ensure supplier relationships remain valuable, processes stay efficient, and the entire workforce commits itself to continuous improvement.
Whether you’re struggling to maintain a Procurement department, lack expertise in key categories, or need a technology solution to tie things together, Our Procurement as a Service approach is exactly what you’re looking for. Capable of managing everything from neglected ‘tail spend’ to entire corporate spend profiles, the Procurement as a Service providers have what it takes to help you realize the power of a fully-transformed, fully-strategic Procurement function.
Reach out today to optimize Procurement and drive your business forward.