Transform your purchases
Your organisation's challenges and their impact on purchasing
The challenges businesses face every day are endless. However, there are solutions for businesses to evolve and emerge stronger from these challenges.
There is no one-size-fits-all solution to the challenges businesses face. Successful companies often have similar approaches or strong structures, but there is no one-size-fits-all solution to their challenges. A company must approach each crisis based on its unique situation and available resources.
As procurement is a critical business process, these challenges are likely to affect your procurement initiatives as well, and procurement transformation may be the most effective way to counter these challenges.
Among the many challenges businesses face, some are common to all.
Your challenges
Cash flow and profitability margins
Perhaps every business faces this challenge today. Maintaining a stable cash flow is essential to a company’s survival, and the struggle to improve profit margins and cash flow is never-ending.
This has an immediate impact on purchasing. As a major function of any business, purchasing absorbs a significant portion of the company’s resources. This includes financial and budgetary considerations. Since all company resources pass through the purchasing function, it plays a key role in ensuring the judicious and optimised allocation of available resources.
Perfecting procurement as a strategic business function improves how it can positively impact other critical business components, including cash flow and profits.
Remaining competitive in a global market
Competition continues to intensify, with digital systems bringing countries closer than ever before. Staying competitive is a prerequisite for business survival and performance.
While adopting internal innovations and cutting-edge software was once a unique selling point, in today’s environment, the choice is between adapting or being left behind. Companies therefore have few options when it comes to choosing their digital systems and software infrastructure. As a key business function, procurement has much to gain from digitalisation and much to lose if it fails to adapt.
A forward-looking approach
In an unstable economic environment, predicting the future is increasingly difficult. Market volatility and constantly changing consumer priorities add to this challenge.
That said, maintaining a forward-looking approach is essential to ensuring resilience and flexibility. These two qualities can save a company from liquidation in the midst of a crisis. It is also the best way for a company to strategically formulate its short- and long-term objectives , and procurement transformation is a key aspect of this.
The purchasing function provides a company with everything it needs, so planning is essential to successful purchasing.
The role of the purchasing function in achieving company objectives
The purchasing function not only meets the company’s objectives, it is one of its essential driving forces.
The responsibility of the procurement function is considerable. The entire organisation depends on the smooth functioning of purchasing and the supply chain to ensure business continuity. This function is central to creating organisational change and driving business transformation.
Key efficiencies in procurement translate into key efficiencies in other areas of an organisation. It is important to be aware of this to ensure this advantage is leveraged and the benefits realized.
Investing in developing the skills of your procurement talent and in the right systems is an investment that will generate numerous benefits for your business, regardless of its size, industry or objectives.
Our method for boosting your purchasing function
Procurement transformation isn’t just a one-time initiative. With the acceleration of development and the arrival of new innovations in the market, transformation must be an ongoing process. While it may seem more complex at first glance than a one-size-fits-all transformation solution, your business truly needs a robust framework for growth. This framework must not only be resilient and responsive to change, but also support your procurement objectives.
Our experts help you leverage a sustainable procurement transformation by providing the tools and expertise you need to build this framework. Our spend management platform helps accelerate your transition to Procurement 4.0 and centralizes your finances for greater transparency. It supports your growth as you scale.
Procurement training is another way we help you develop your procurement department in Belgium. It’s essential for sharing knowledge and ensuring the development of your procurement teams. It also ensures that the functional transformation objective reaches your teams in a way that generates impact and adds greater value to your processes .
Our added value in transforming your procurement processes
At EPSA Belgium, we support our clients with integrated solutions to transform their procurement functions and help them develop operations that work for them.
Discover all our services.
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Procurement Maturity Assessment
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Excellence in Procurement
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Procurement 4.0 expertise
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Expense management platform
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Procurement training
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Procurement Outsourcing Service
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Optimising expenses