Procurement is defined as “the act of obtaining or buying goods and services”. But in a commercial context, it usually involves a business bringing in a consultant to review all of their outgoings and identify where potential savings can be made.
The procurement specialist will use the combined purchasing power of their clients, together with their network of suppliers, to leverage increased savings for the business. The Procurement Group, for example, guarantee to make substantial cost reductions within 4 weeks and our average saving is 25%.
But it’s not all about the money. Procurement specialists will also usually do the following:
- Managing supplier relationships;
- Handling paperwork;
- Watch for new opportunities;
- Invoice validation;
- Arranging consolidated invoicing;
- Resolving historic billing issues;
- Match (or improve) service levels;
- Producing accrual schedules;
- Serving terminations on suppliers;
- And much, much more.
All of these jobs help to free up key employees to enable them to focus on the core business.
We understand that for many businesses, service levels are as important (if not more so) than the cost, so we work with you to ascertain any suppliers that you wish to retain and always try to improve (or at least match) the service levels of any existing contracts. We provide a range of quotes for every area so that you can decide what best suits your business.
How Are Procurement Specialists Paid?
At The Procurement Group, we are so confident that we can save your business money, that we won’t charge you a penny if we conclude that savings can’t be made. If savings are made, you pay us a percentage of the savings that we make for you and because we invoice quarterly in arrears, you will quickly see a positive impact on your profit and loss and cashflow.