Savings implementation

Electool can help you maximize savings realization by transforming and automating the purchase-to-pay process and establishing well understood buyer and supplier processes.

The Path from Sourcing to Savings

As much as they add up, savings from sourcing only appear on paper. They won't show up on the bottom line unless preferred suppliers are used, contract terms are upheld, and policies and procedures are followed. This means that users must come to trust that finding, ordering, and receiving the right items from preferred suppliers will be a painless process with a successful outcome. Frustration with inefficient and ineffective suppliers, processes, or tools often leads to maverick buying, resulting in lower compliance and lost savings. Frequent maverick buying can also reduce leverage with suppliers and impair visibility to data needed to drive further cost and supplier performance improvements. Electool can help you maximize savings realization by transforming and automating the purchase-to-pay process and establishing well understood buyer and supplier processes.

Source-to-Pay Transformation & Automation: The power of people and technology

Right from the start, we apply formal quality- and process-improvement approaches, to identify opportunities for employing best practices, streamlining activities, and eliminating or automating non-value-added tasks. We work closely with your team and category stakeholders to develop efficient, standardized procurement processes, policies, and procedures as well as to leverage procurement tools and technologies to simplify, monitor, and analyze your purchasing activities. Along the way, our process and integration specialists help you develop standards for content, connect with suppliers in the most effective manner, and design and implement best-practice-based processes that work for your organization. Whether we use your technology or our fluenta, the result is a scalable foundation, designed to easily and efficiently support new suppliers and increased transaction volumes.

Implementing faster for improved savings realization

  • Improved compliance and adoption to existing supplier agreements
  • Implementation of buyer-centric processes that capture and optimize savings opportunities
  • Accelerated and increased realization of savings from new agreements
  • Improved data and spend visibility across a broader range of locations
  • Improved supplier performance and ability to meet service-level agreements

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