Effective management of your working capital requires full visibility — and control — of your company spend. Learn why, and how, in The Impact of Indirect Spend on Working Capital from Corcentric.
To manage your working capital, not to mention forecast future outlays, full and accurate visibility of all spend, including indirect spend, is critical according to a CFO.com whitepaper sponsored by Corcentric. That’s what a robust, integrated procurement solution is designed to do; So, why do 71% of firms included in an AmeriQuest Survey still lack a procure-to-pay tool?
Procurement process automation accelerates efficiency, enhances accuracy and puts more spend under control faster. Companies that lack procurement process control are at a serious disadvantage. In fact,
a company at the billion dollar level will waste around $15 million a year without adequate control.
How much is this problem costing your organization?
Download The Impact of Indirect Spend on Working Capital whitepaper from Corcentric and CFO.com to learn what procurement process issues your company may have, along with strategies to solve them. Some of the problems that companies have include:
- Lack of adequate knowledge of total purchase spending
- Focusing on rebates instead of negotiating for advantageous upfront pricing
- An oversupply of suppliers – a sign that sourcing processes need fixing
Download “The Impact of Indirect Spend on Working Capital” and get the tools and strategies to improve visibility and better manage purchasing to grow profitability.