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What is Procurement Outsourcing Services?
Procurement Outsourcing is the process whereby a company engages an external service provider to manage their entire core or non-core purchase transactions or spends thereby freeing its important and key resources to work on strategic initiatives and handling important business activities. Outsourcing is also important activity which helps companies to replace costly headcount positions with low cost resources of third party service provider for handling non core activities and in turn realizing huge savings.
In today’s turbulent economic times each procurement head has mandate to focus on cost optimization initiatives, keeping quality of products intact or rather making it better. The procurement function has been elevated to a strategic component of value creation and a rich source of competitive advantage. To achieve this, rather than creating a world class procurement capability in-house, many companies have simply outsourced it. Procurement outsourcing is often undertaken to leverage economies of scale and improve the execution and control of underperforming or non-core tasks and poorly managed spend categories. In doing so companies can realize reduced supply and operational costs, improved compliance and enhanced performance and cycle times.
It is important to recognize that outsourcing the procurement function does not necessarily mean a complete transfer of control but leveraging third-party services to achieve less cost and better efficiency.At a simple level procurement outsourcing can involve migration of infrastructure: people, technology, systems and supplier management. A step further and more complex procurement-related processes can involve, for example, transferring procure-to-pay (P2P) and/or requisitioning. At a higher level, value-added functions such as strategic sourcing can be transferred. Taken to its full conception, strategic responsibilities can be given over, which might include the formulation of business rules.
Pcura is a leading Procurement Outsourcing Services Provider with capability of providing procurement outsourcing services on-shore / off-shore basis as demand arises. We have consultants who have either had long stints with world renowned consulting companies (in IT or Management Consulting side) or functional experts from various industries like engineering, electrical, automobile, auto-components, BFSI, telecom, retail, hospitality, power, infrastructure etc. Our consultants have experience of handling large cost optimization or process improvement projects for thousands of man hours and have delivered large savings to fortune 500 companies worldwide. With our consultants on job you can realign your key resources for important tasks rather than handling non core activities, which otherwise consume major portion of their time. Also although in our services engagement, we recommend our customers to start off loading non critical / b and c class categories to us first, many of our customers want us to start with strategic categories or raw materials, as we are capable of handling spends in any spend category.
Pcura team can help you to support your day to day spend in indirect or non core activities with our dedicated off site centre. This outsourcing activity (Procure to Pay or Source to Pay) will not only deliver you savings but also help in reducing organizational inefficiencies.
The Procure-to-pay process typically entails thousands of individuals across the organization sending requisitions to hundreds of suppliers, which results in tens of thousands of points of potential failure. Each time this interaction breaks down, time and money is lost. Whenever an individual fails to use a preferred supplier, can't find an item or needs to change an order, or if a supplier incorrectly ships or prices an item, end-user frustration increases, time is wasted, and money is lost.
Pcura can help by providing a customer dedicated buying center -- professional buyers who leverage cutting-edge tools and best practices to proactively manage day-to-day procure-to-pay activities, ensuring efficient transaction processing, fewer errors, and ultimately higher compliance and savings realization. With these time-consuming activities left to Pcura, you can confidently focus on more strategic cost-reduction projects.
Pcura Dedicated Buying Centre
Pcura team can help you to support your day to day spend in indirect or non core activities with our dedicated off site centre. This outsourcing activity (Procure to Pay or Source to Pay) will not only deliver you savings but also help in reducing organizational inefficiencies.
The Procure-to-pay process typically entails thousands of individuals across the organization sending requisitions to hundreds of suppliers, which results in tens of thousands of points of potential failure. Each time this interaction breaks down, time and money is lost. Whenever an individual fails to use a preferred supplier, can't find an item or needs to change an order, or if a supplier incorrectly ships or prices an item, end-user frustration increases, time is wasted, and money is lost.
Pcura can help by providing a customer dedicated buying center -- professional buyers who leverage cutting-edge tools and best practices to proactively manage day-to-day procure-to-pay activities, ensuring efficient transaction processing, fewer errors, and ultimately higher compliance and savings realization. With these time-consuming activities left to Pcura, you can confidently focus on more strategic cost-reduction projects.
Pcura Procurement Auditing Services
Most companies lack full time resources who can find saving opportunities, implement savings at the same time monitor compliance. Or even carry out complete due diligence on complete spend of Organization from scratch.
As companies look to maximize savings from strategic procurement initiatives, auditing is an important activity to ensure success of whole sourcing initiative. Even after contracts in place regular audit can only ensure that contracts are implemented 100 % across the organization. Pcura's auditing services can help you with:
• Complete Audit / Due diligence
• Un earthling saving opportunities
• Achieving cost optimization targets
• Driving statutory compliance
• Avoiding revenue leakage because of non compliance of contracts
Pcura Market Making Services
One of the means of sustaining competitive advantage in today's market is to have access to global base of suppliers. We leverage our worldwide presence (either direct or through alliance partners) to find suitable and competitive suppliers who are in a position to fulfill global requirement of our clients. Supplier Discovery helps in improving procurement efficiencies and gaining cost advantage; at the same time maintaining quality standards of the clients.
Pcura Spend Analysis Consulting Services
In today’s uncertain economic conditions worldwide, strategic sourcing cost optimization initiatives in each organization are mandatory. The first important step in strategic sourcing program is the identification of the categories that have the greatest savings potential. Spend Analysis is the starting point in identifying the savings opportunities in your organization wide spend. Also a good quality Spend Analysis goes not only helps in identifying category wise spends but also will classify spend data across multiple geographies, legal entities, departments and branch locations.
It is a constant endeavor for sourcing teams to monitor spends in targeted commodities on a regular basis. They need quick and detailed information at regular times that too quickly. Having a clean and reliable spend analysis greatly impacts the results one can achieve from their strategic sourcing initiative.The services-based opex model (Operating expenses) allows companies to quickly get the spend intelligence needed for strategic sourcing that too without the cost and long budgeting approval process. Internal sourcing experts can quickly focus into sourcing activities rather than working on getting the data, analyzing it, and then work on sourcing projects. It also provides a great opportunity to test drive spend analysis technology and services, so that at an advanced stage organization can move forward in an educated manner to purchase software and commit internal resources and budget.
Pcura's Spend Analysis Consulting Services empower clients with:
• Aggregated spends across the organization by geography, legal entity, business units, location, supplier, commodity and even individual category,
• Current contract costs, terms, and conditions.
• Expert suggestions for savings opportunity via different spend optimization strategies like demand consolidation, suppliers rationalization, payment terms rationalization, eSourcing and reverse auctions etc.
Pcura Supply Chain Consulting services
Pcura Supply Chain Consulting Services can help you to evaluate, develop and implement a supply chain strategy that seamlessly meets your business needs. We can also work on solution for any problem area covering entire supply chain from purchasing of raw material, manufacturing, warehousing, distribution and customer service. We can deliver significant improvements in supply chain efficiency, productivity and service to internal as well as external customers.Effective supply chain management solves many of the problems encountered by businesses today. Automated supply chain helps to fasten communication between all supply chain elements which shortens delays in processes like demand forecasting, capacity planning, order placement, Order fulfillment, warehousing etc. Furthermore, Internet-enabled supply chains generally result in lower costs for all parties involved because when secure relationships are established and when the supply and demand for products is in alignment, the total prices paid by organizations are generally much lower.Pcura Supply Chain Consulting Services can help you in:
• Understanding the cost drivers for the entire procurement function,
• Devising the strategy for supply chain optimization in line with organization’s long term goals
• Developing strategic long term supplier base for the entire supply chain,
• Benchmarking the cost structures against the peer business groups,
• Selection as well as adoption of tools and technology for entire / part of supply chain function,
• Effective training to the users for new initiatives and software tools
• Improvement in turnaround time in the entire supply chain making go-to-market faster,
• Reduction of individual cost like manufacturing, transportation, warehousing, inventory management, product obsolescence and product wastages,
Pcura Supply Chain Consulting Services can help you to optimize all aspects of your supply chain and add to your bottom-line.
