Procserve and BDO LLP research report shows how significant procurement savings can be made through eProcurement

London, United Kingdom – Procserve, the leading UK B2B Commerce Network, has released a new research report for free download. The report examines how embracing innovative eProcurement technology and considering a new strategy can lead to operational efficiency and significant procurement savings, amongst other advantages.

The research report, titled ‘The eProcurement report: 21st century procurement moving from expense to advantage’, confirms the underexploited potential for procurement to deliver substantial, transformational benefits that drive huge savings for organisations of all sizes.

The research carried out by global accountancy firm BDO LLP found that innovation is key, and procurement is one area where people are starting to unlock savings potential through new technologies such as eMarketplaces. To demonstrate the extent of the savings, Procserve and BDO LLP have developed a free-to-use savings calculator enabling organisations to accurately assess how much they could be saving through digital adoption of eProcurement technology.

At present, many procurement teams are inundated with invoices, copying with out-dated inefficient processes swallows hours of staff time. eProcurement addresses this, allowing staff to rein in inefficiency, creating a streamlined process that is easy for buyers and suppliers.

The research report also concludes that an organisation with a £100 million procurement budget could save in the region of £2-£3 million, just by updating their purchasing processes to eProcurement. Looking at the broader picture, a 2% saving could make the budgetary difference of taking police officers off the streets or closing a satellite office. The study found the largest savings came from purchasing commonly bought items such as stationery, which typically make up 80% of the items bought through a procurement department. By directing spend through an online network, organisations can save between 3-10% on these items. Scaled up, across more than three quarters of orders the savings could be in the millions.

Whatever the stage of the eProcurement journey there is value to be gained. The trick is to understand the opportunity and then grasp it. The online calculator is the perfect business tool to do just that.

Could you save your company millions? Try the calculator to find: http://thecalculator.procserve.com/?id=cs1

It works by factoring in company characteristics with a profile of expenditure details to calculate a guideline figure for expected savings per annum of using eProcurement. This includes a ‘self-assessment’ of the company’s online procurement maturity so that the effect of optimising the switch to eProcurement can be fully understood.

For a free copy of the BDO LLP research report click here: http://business.procserve.com/bdo?id=cs1

Chris Bolwig

Recent Posts

The Engine Nordic: Nine Nominations Across Eight Categories in the Prestigious European Search Awards

[Reykjavik, 12.04.24] – The Engine Nordic, a trailblazing full-service digital marketing agency renowned for its…

2 weeks ago

Haukur Halldórsson: A Journey Through Art and Time – A Unique Exhibition at Street Art Norge

Oslo, Norway, 05.04.2024 – Street Art Norge is proud to present a unique exhibition honouring…

3 weeks ago

Revolutionizing Fleet Management With Hexagon Agility CNG/RNG fuel systems in Class 8 trucks

ÅLESUND, Norway, Feb. 26, 2024 /eNewsWire/—US-based Hexagon Agility, a leader in clean fuel technologies, is…

4 weeks ago

Enhancing Observation: The Role of Test Chamber Laboratory Microscopes in Research

Coventry, UK, 02.04.2024 - Labotronics Scientific is thrilled to unveil its latest innovation - the…

4 weeks ago

Icelandic Presidential Hopeful Baldur Þórhallsson Leads by 22 points.

Reykjavik, Iceland, 28.03.2024 – In a strong show of support, recent polling by Prósents, and…

4 weeks ago

Over 6,000 Brave Souls Embrace Valhalla in 2023 on their Journey from Oslo to the Afterlife

Oslo, Norway, Oslo 22.03.2024 – In a remarkable fusion of history and cutting-edge technology, over…

1 month ago