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Archive for the ‘Sourcing Solutions’ Category

How Efficient Sourcing Solutions are Helping Businesses Worldwide

Thursday, August 30th, 2018

Sourcing has been the cornerstone of efficient business processes since time immemorial and with changing times, the landscape of the process is drastically undergoing a change. Considered to be secondary processes at one point, today the entire gamut of sourcing solutions is considered vital for business growth. Especially in a country as vast as India, sourcing solutions have become a value addition for businesses. Strategic sourcing solutions include procurement solutions, strategic vendor management and an intelligent system for smooth functional flow.

Sourcing solutions in India

The country is witnessing a transformation across industries and business practices. Ease of doing business is highly promoted and has become the end goal for businesses in the country. In this respect, though sourcing solutions is a comparatively new practice, but is picking up rapidly. Sourcing solutions experts are effectively providing intelligent solutions with far reaching impact to organisations and gradually more organization are jumping the band-wagon.

In a country like India where 60% of labour is recognized skill labour and the price of goods and services changes at every corner – market intelligence is gold. If your organization is completely dependent on vendors for goods and services, it is vital to hire a sourcing solutions agency to help you understand the many nuances of this dynamic industry.

Tail spend management

Mismanaged tail spends can cost an organization almost 20% of what could have been incremental savings. In the past decade, tail spend management has cost multi-nationals a huge amount of precious money owing to staggered processes, excessive paperwork and the lack of structure.

A sourcing solutions agency can drastically change the way an organsiation manages their tail spend and bring in a much needed functional change. Operational efficiency is the impact of an effective sourcing strategy and is marked by integrating neat processes in the over-all functioning of an organization.

Save money and time

The essence of money and time has been stressed upon consistently and the efficient utilization of both while concentrating on core business processes is a difficult task.

Smart procurement strategy, event management, simple source to pay solutions are key areas where sourcing solutions can effectively make a change and can benefit organizations holistically. The first rule before hiring a sourcing solutions expert is to first understand the needs of your business and how experts can help your organsiation. In conclusion, the framework of efficient processes is marked by an efficient sourcing solutions strategy.

To understand more about sourcing solutions, please visit www.vpurchase4u.com

How Can Benefit from Modern Sourcing Solutions?

Monday, August 20th, 2018

The primary objective for a company is to consistently increase its profit, expand and explore more opportunities. The objective can have multiple layers but in itself, it remains the same across industries – to garner more profit with minimum investment.

The business eco-system today is going through its fair share of changes and is discovering a system of efficiency that is positively affecting tail spend management.

Proving this fact is the rising popularity of sourcing solutions as a strategy to save money while maintaining operational efficiency.

Reduce:

Reducing the time taken for operational processes including vendor management, sourcing of goods and services impacts the over-all time and energy spent. Sourcing and procurement management need to be processes that don’t take from your core business processes but instead contribute to over-all growth.

Improve:

Review, analyse and make improvements to existing processes in an effort to bring more efficiency. Consistent vendor reviews, collecting market intelligence and sourcing at a reasonable cost are all steps one can undertake for long-term strategic planning.

Eliminate:

Eliminate processes that hinder your business processes and restrict your business from achieving operational efficiency. Processes tend to become clogs if not reviewed consistently. They are affected by both external and internal factors and need to be analysed objectively for them to have any long-term impact.

Outsource:

Outsourcing most of your processes will relief resources from undue burden and will drastically improve performances. The operational success of any organization is dependent on the utilization of two very crucial resources – time and manpower. If vendor management, which is an integral process of any business, is outsourced to experts, not only do you save money but also gather a huge market intelligence which didn’t exist before. The complacency of existing redundant processes is immediately traced and removed by outsourcing expects to recognize the needs of your business.

The need to recognize loopholes and close them with stronger processes is the need of the hour for any business looking for long-term growth. Short sightedness to save money leads to a series of processes which don’t benefit your business but instead create a circle of unending paperwork, approvals and tedious processes.

Sourcing solutions experts understand the needs of your business, the existing processes and the areas which need immediate attention. They bring seamless processes which promote transparency and accountability while at the same time saving money, energy and resources for the growth of your business.

To understand more about sourcing solutions and how it can help further your business, visit www.vpurchase4u.com.

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