LONDON, November 23 /PRNewswire/ -- PROACTIS today announced the launch of an Executive Guide to help finance specialists control spend on indirect goods and services. The guide discusses five fundamental questions every senior financial manager should ask about their organisation's Purchase-to-Pay to increase visibility into spending and using information technology to automate and enforce rules:
- Do the right people really have control of what they are buying? - Do managers have enough visibility of commitments to properly manage their budgets? - Are they getting the best value for what they are spending? - Are they properly managing the payment process? - Are they as efficient as we can be?
Simon Dadswell, Director of Marketing at PROACTIS said: Almost all organisations can benefit from improving how they manage corporate spend. Those purchases that are a necessary function of keeping their organisation 'up and running' and the costs of doing business that seem to eat away at the bottom line. We have created this guide in support of senior financial managers who need to create an end-to-end vision for corporate spend control, especially in challenging economic times.
This guide offers finance specialists a practical way to get started in the pursuit of cost savings. Whilst many of these executives may not be directly involved in the procurement process on a day-to-day basis it is essential they understand how much expenditure and organisational resource is involved in the daily purchase-to-pay cycle. Few finance teams have the necessary visibility or controls to manage the cost pipeline and tap in to available savings, continued Simon.
Reports from leading industry analysts demonstrate the benefits that can be achieved by tackling uncontrolled spending on indirect goods and services:
- Enterprises on average achieve a 35% improvement in spend under management, with a 41% reduction in maverick spend (as a result of eProcurement initiatives)[1] - (With eProcurement) enterprises on average reduced their requisition-to-order cost by approximately 48%, and more than halved their transaction cycle times [1] - Automation can help generate an average 50% reduction in invoice processing costs [2] Download the free guide at http://www.proactis.co.uk/p2p-guide [1] Aberdeen Group eProcurement Trials and Triumphs, October 2007 [2] Aberdeen Group ePayables Solution Selection: Your 2007-2008 Guide to AP Transformation, September 2007
ABOUT PROACTIS
PROACTIS Group is a leading provider of Spend Control and eProcurement solutions with more than 350 corporate customers in over 70 countries around the world.
Contact: Charlotte Sutton, Marketing Manager, PROACTIS Group, +44(0)1937-545-070, charlotte.sutton@proactis.com
SOURCE: PROACTIS Group
CONTACT: Charlotte Sutton, Marketing Manager, PROACTIS Group,+44(0)1937-545-070, charlotte.sutton@proactis.com
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