When you run a tight ship of a business every penny that comes and goes counts. This is where s2p consultants can become a key element in the success of a company. If you believe that your source-to-pay process could benefit from a few improvements, it may be a great time to consider bringing on a professional consultant to help you get the most out of your purchases.
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Deliver Clarity
Being able to clearly see all of the factors that have to be considered in the process of procurement is a great way to have an idea of what works and what doesn’t. A seasoned source-to-pay consultant will have the expertise that it takes to simplify your whole process and put it out in front of you so that you can actually see every mechanism, every step of the way. For example, there are stories about companies that double pay for goods and services for years and not even know about it until somebody uncovers the error and fixes it. A consultant will be able to identify and uncover problems that could cost the company a significant amount of money.
Save Money
Since the source-to-pay process has to do with money, you can assume that if you have not had any professional help, that there are flaws in your system that might be costly. For instance, during the sourcing step of the process, there could be sources available with lower prices and better deals. These sources are not always easy to find or acquire. Thanks to sophisticated software that was engineered specifically for the source-to-pay process, every step of the process can be streamlined and easily conducted for maximum efficiency. Since these software platforms are relatively new to the market, only an experienced consultant can show you the correct way to use them and the best way to find the ultimate sources that will best benefit your needs.
If you prefer not to use software, a consultant will be able to show you the best, and most effective ways to find your sources and get the best deals from them. Great sources can ultimately save money, resources, and time.
Save Time
It may not seem like such a time-consuming task to implement a successful source-to-pay operation, but it is. If you are already using a failed system to facilitate your procurement needs, you might be surprised at how much time you could save if you hired a consultant to show you how to do it the correct way. Instead of guessing around at what might or might not be productive tactics, you can learn what works and what does not so that you no longer waste time trying to figure out the best way to go. If you think about it, every step in the process takes a considerable amount of time and effort. From locating sources to solidifying the contracts, then ensuring that the contracts are kept and so on, a significant amount of time will pass. A consultant can help you to streamline each process so that you can cut at least half of the hours that you waste in your current system.
Bring Experience
A great source-to-pay consultant will be able to bring the experience that they have in the field into your business and help you to incorporate that experience into your very own process. Whether you have a small team or a whole enterprise of people that are involved with your everyday spending a consultant can show you how to do it the right way, and help to train your employees as well.
Conclusion
Brining an S2P consultant into your procurement system could be the best thing you can ever do for your company. They can save money, time, resources, and provide top-notch training for you and your employees. You may think that you know all that there is to know about your own source-to-pay efforts, but you might be pleasantly surprised to learn that you don’t if you take the initiative to listen to a professional.