Advanced Procurement

Common Challenges

Common challenges include:

  • Lack of visibility and oversight: Poor visibility into procurement activities often leads to overspending, which can strain budgets.
  • Delays in budget decisions: Without consolidated procurement activities, decisions on budgets and spending may be delayed, impacting operations.
  • Inefficient matching process: Manual or incomplete three-way matching can result in disputes, delayed payments, and increased administrative workload.

Benefits

Key Benefits include:

  • Fraud and error prevention: Introduces processes and validations that minimise the risk of procurement fraud and errors.
  • Financial stability: Reduces the risk of unexpected procurement costs, ensuring better financial control.

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