Smart Buy Procurement Sourcing
Tail spend management poses a longstanding problem for procurement professionals and other business leaders. The onerous task of overseeing large numbers of discrete, non-strategic suppliers delivering ad hoc goods and services simply doesn’t lend itself to streamlining. As a result, efforts to drive improvement typically fall short.
Today, businesses are reexamining how process optimization and intelligent automation can be applied to improve procurement and contract management and tame the tail spend beast.
TimTech Smart Buy procurement platform combines process methodology and intelligent automation to optimize spend analytics, reduce costs and cycle time and drive increased visibility into the delivery model. By managing transactions throughout the sourcing lifecycle, Smart Buy delivers a “Single Invoice” procurement model.
Benefits
Spend Analytics
- Granular visibility of spend
- Insight into customer taxonomy
- Data cleansing and meta data management
Consolidated Tail Spend
- Single Invoice model
- Offloading of supplier transactions
- Spend visibility not compromised
Supplier Management
- Accurate spend classification
- Quick RFQ process and eAuctions
- Vendor self-service information management
Deep Automation
- 24/7 monitoring
- 80% reduction in processing costs
- 40% improvement in cycle times
No Capex
- Zero change management
- Rapid implementation
- Seamless adaptation
Changing the Game
Insights
