How modular sourcing solutions help large and small companies achieve profitability and cost savings ‘right out of the gate’
Indirect spend makes up as much as 20 percent of total company spend and may involve up to 80 percent of a business’ total suppliers. To make these indirect spending decisions, most companies utilize some form of RFP process — and in most cases, they’re conducting these RFPs within the traditional ERP system.
Historically, procurement teams have had little choice but to use ERP tools for sourcing activities, despite their limitations. Today, however, the landscape has changed. This report, released by WBR Insights and ProcureCon Indirect East, outlines the competitive advantage a modular sourcing system can offer to companies, including:
- Easier and more frequent sourcing events;
- Greater competition and innovation in supplier networks;
- A more complete picture of spend data; and
- More collaboration stakeholder confidence.
The report draws on expert insights from Andrew Wolfe, President and CEO of Wolfe Procurement, and data from ProcureCon Indirect East’s 2018 benchmark report.