01.
The Challenge
The Client’s procurement function was tactically focused and the Procure to Pay process was highly manual, relying heavily on email for PO authorization invoice approvals, creating a heavy burden on a small Procurement and AP Team. There was a lack of reporting and visibility to budgets, spend and supplier contracts. Inconsistencies in how spend and purchases were authorized across functions resulted in the organization missing out on opportunities to negotiate savings/value.
02.
What We Did
- We assessed the current state procurement and AP functions (people, process, technology) and identified opportunities for improvement and value creation
- We developed a procurement policy, end to end procurement processes and an organizational design introducing new roles and competencies needed to support and sustain a maturing procurement function
- We selected procure to pay technology that aligned with current and future business needs and develop a business case for change and implementation roadmap
03.
Our Impact
Veracity helped transform the procurement function from tactical purchasing to strategic procurement.
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