Evaluating Spend Control for Financial Directors
The primary objective of "Spend Control" is to enable organisations to reduce costs and increase productivity by taking control over the way a business buys goods and services. The savings are substantial and the productivity improvements impact a very large number of staff.
Is this relevant to you? Try answering the following 6 questions before you decide.
Questions for the Financial Director:
- Question 1: How valuable would it be to have real-time and immediate access to the value of every purchasing commitment (purchase order) and the associated cashflow implication in the production of cashflow reports and management accounts?
- Question 2: How much would the company save if budget management was fully automated, based on the general ledger budgets of your accounting system and over-budget expenditure always required approval before the order was raised? How powerful a tool would budget management become if any change to the general ledger budgets immediately impacted every request to purchase (requisition) and its associated approval process - automatically?
- Question 3: How would you like to remove all the paper from the purchasing process and implement a formal and automated approval process which was adhered to every time?
- Question 4: How much time would it save everyone if the exact status of a purchase (from requisition, purchase order, delivery, purchase invoice receipt, approval and post to the ledgers) wasinstantly visible to everyone that needed to know? This includes purchase invoice approvals with electronic copies of the purchase invoices passed through to the accounts system.
- Question 5: How many suppliers does the company really need and what would be the benefits of enforcing staff to use only the nominated suppliers, or require additional approval to use an alternate supplier?
- Question 6: If you could save between 10% - 25% on the unmanaged spend PER ANNUM, with minimal effort, who would be responsible for investigating the potential?
How much could you save the business?
Compleat would like the opportunity to quantify the savings potential we would deliver as we are confident that you will be very surprised.
Request a 15 minute a telephone call to find out more or book a free spend review meeting (at your offices) to quantify the potential costs, savings and ROI by filling in the form below.
You should expect the hard cash ROI to be between 4 and 12 months, after which the savings are just more money in the bank and improved profitability.
Is that worth an hour of two of your time?
Simply fill in the form below and discover how much you would save: