Take our Procurement Assessment to assess the health of your procurement function
The COVID-19 Pandemic Has Had A Negative Impact On Most Businesses
The Covid-19 pandemic has touched every aspect of our lives and will have a lasting impact on the human race and the way in which we operate and live as a whole. This includes business and business owners. This is corroborated by the YPO report* where most CEO’s globally are either experiencing or are expecting a tough road ahead for their businesses.
“The challenges brought about by the Covid-19 pandemic on businesses has resulted in CFO’s placing a distinct focus on prioritizing cost reduction”
Cost Reduction Is Now A Major Priority For Businesses
According to the Deloitte CFO Q3 2020 Survey report close to 60% of CFO’s are prioritizing cost reduction, & cashflow optimization post the wake of the Covid-19 pandemic.
The identification of non-core cost areas and activities, have shifted the mindset of organisations to refocus their efforts to reduce such costs and increase the value on their bottom line. To achieve this, they have turned to their procurement functions.
“Many organizations are looking at the procurement function to achieve this as numerous case studies have shown that mature procurement functions can achieve in excess of 15% YoY savings”
A well-oiled Procurement Function Can Yield 15% Year On Year Savings
“Truth be told most organizations only achieve 2% realized cost savings. This primarily due to the maturity of their procurement function”
Several Challenges Hinder Organisations From Achieving Procurement Savings
Robust and mature procurement functions are proficient in the eight tenants of procurement maturity
- Procurement Strategy
- Strategic Sourcing
- Procure To Pay Process
- Reporting & documentation
- I.T & Systems
- Supplier Relationship management
- B-BBEE & Compliance
“Simply put the stronger your capability and capacity is in procurement the more
$$$$$$$ you save”
TO KNOW WHERE YOU WANT TO GO YOU FIRST NEED TO KNOW WHERE YOU ARE. PROCURESENSE’S PROCUREMENT ASSESSMENT SOLUTION CAN HELP YOU WITH THIS
ProcureSense has specific methodologies and practices that it applies in order to determine
procurement savings, procurement maturity and implementation activities.
3 specific stages that we utilize our methodologies in:
High-Level Savings Identification
- Click on the Button at the bottom of this page: “Take the Assessment Now”
- Complete your information as well as your company information and sign up
- Complete the assessment (8 questions only) (Critical Information Required: Type of procurement department that currently exists, percentage of purchases that takes place through formal contracts, estimated turnover for current financial year, estimated turnover for next financial year, current B-BBEE level)
- View your savings report
- Click on the calendar and schedule a meeting with the ProcureSense Team to further unpack your report
- You also have the option to view the “DIY” page which identifies areas that you are your organisation can act upon to improve your procurement function.
High-Level Procurement B-BBEE Maturity Assessment
- In the meeting the ProcureSense Team will unpack your report and get into your world by further understanding your business
- The team will then take you through the next set of questions which provides a high level view of your Procurement and B-BBEE maturity
- Post completion of this questionnaire, a specific “DIY” blue print is developed for your organisation in order to improve your Procurement and B-BBEE Maturity.
- If however, you believe that ProcureSense is your procurement partner of choice, you may click on our pricing button to determine the costs to your organisation should ProcureSense develop and implement your required procurement solutions.
- When a client chooses ProcureSense are their procurement partner of choice, our team will then get in touch with you to conclude the Scope of Work, the project plan and the pricing schedule.
- Upon agreement by all parties, the ProcureSense team then moves the process onto Stage 3 of the journey.
Procurement Savings and Professionalisation
All information provided by the user on this platform is strictly confidential.
Our Procurement Audit Solution provides the following organisational benefits