Is Saving Time More Important than Saving Money in Procurement?

Is Saving Time More Important than Saving Money in Procurement?

Do you want more time to run RFPs or more time to analyze them?

What if supplier onboarding and management were simplified?

If intake was automated would stakeholders be happier and engaged?

If you are like most people I speak to, they have more things to accomplish and don’t have the time to do them all well.

We all find ways to get things done in a time crunch.

Time expands or contracts to time allowed.

I think you can probably make a list of spend categories that would yield savings if you had more time.

So, the answer should be that saving time will lead to saving money.

Do you think it is possible that every member of your team could save 8 hours a week if you had the right tools or tools?

Absolutely.

I have plenty of client case studies that document time savings of 40% or more.

Each client eliminated manual processes and/or forced reliance on cumbersome legacy systems.

With time savings of 40% or more it is easy to generate the ROI needed to justify the investment.

Seamless integration of supplier onboarding, RFP creation and launch, dashboard reporting, optimized awards and contract management will generate dramatic time savings.

The benefits go far beyond procurement.

The benefits include:

  • In depth bid analysis leads to smarter negotiations.
  • Stakeholder engagement and cooperation grows exponentially because it saves them time too.
  • Supplier engagement translates to creative ways to save money. They have more time to analyze and structure their bids.
  • Savings goals can be achieved and documented.
  • Senior management can get answers to “what if” questions in real time.

How much more relaxed you would feel if you could save 8 hours a week?

If you are like me, you get frustrated doing things manually that could be handled automatically.

Why shouldn’t you be able to eliminate redundant and inefficient tasks in your day-to-day sourcing life?

Imagine going home on time on a regular basis so you could watch your kids play sports or perform in a play or dance competition?

Isn’t a goal of your organization to get better?

Is saving time more important than saving money in procurement?

You can accomplish both goals. 

Ask better questions, make changes and 2020 will be your best year ever.

Action Step: Finding the right tools for your needs can be a challenging process but it doesn’t have to be. If you are uncertain where to start the process of change, a procurement professional like myself can provide guidance and expertise to help your organization achieve the results you want. If you want to go explore this topic in greater detail, please contact me. I invite you to request 30-minute discovery conversation. In my experience the next step will be apparent at the end of the call. I never assume that what I have to offer will be right for everyone, so don’t expect a sales pitch. You can reach me at (973) 718-7071 x875. The call will be forwarded to my mobile phone if I am not in my office which is likely. 

If you would like to know more ways to reduce costs without changing the way you do business, simply give me a call or send me an email with your contact information and the best time to reach you.

You Won’t Drift to Success©

Commit to taking the next step.

Until Next Time, I Wish You Great Success in Your Business and in Your Life

Mike Jeffries