British Firms Progress Towards Paperless ProcurementThe power of automation to streamline vendor agreements
Today, procurement plays an increasingly strategic role in every company. From RFPs and MSAs to supplier contracts and financing agreements, Procurement is responsible for the way organisations manage suppliers. Unfortunately, however, inefficient paper-based processes can tarnish the department’s reputation by generating excessive costs, unsatisfactory service levels and frustrating delays.
Report Snap Shot
The State of Systems of Agreement, found that almost half (46%) of respondents’ companies had experienced postponements in starting projects as a result of inefficient agreement processes in the past year, while 42% had experienced delays in recognising revenue.