There are several ways within a company to grow profits. One of the best ways to increase your profits is to make your business processes more efficient. By organizing your business processes more efficiently, you do not increase profits temporarily, but permanently. You save costs on every order and thus achieve the maximum operating result. In this blog we will therefore give you some tips that can help you organize your business process more efficiently.
The purchasing process is a process involving many factors. For example, orders must be placed on time, the correct party must be contacted for the order and the correct quantity must be ordered. When this process is handled manually, this process is a time consuming and inefficient process. You can automate this process through a procure to pay system. The aforementioned processes are automatically performed here and you will therefore save a lot of man hours. In addition, the procure to pay system also includes the other steps in the ordering process. This includes for example the automatic payment of invoices. The procure to pay system also gives you insights into bottlenecks in the entire process. Because the system gives you these insights, you can remedy them.
The choice of suppliers determines the price for which you can purchase the products. The main goal is of course always to buy the products as cheaply as possible, but this should not be at the expense of the delivery conditions. For example, it is sometimes possible to choose a supplier that is a few percent more expensive than the other one, but that does have a faster delivery time. This is precisely why it is important to always keep looking for potential new suppliers. The process of finding the right suppliers is called the source to pay process. By continuously working on this, you can be sure that you will always find the best supplier for your situation. If you are actively and properly working on this, it is possible that you do your purchases one month from supplier a and then the next month from supplier b.