The procurement cycle of a company can be just as important as the sales cycle. The way that companies organise their purchases has a direct impact on a company's costs and profit margins.

If a company has a profit margin of 10% and can streamline its procurement activities to cut costs by 5% then it can increase its profit by 50%. Using the same profit margin of 10%, the company would need to increase its sales revenue with 50%.

Because the procurement cycle is a very complex web of interactions between actors, departments and systems, automating its processes can provide substantial benefits to any organisation.

Click the chart above to discover how i-file can assist you in automating your procurement cycle.

If you would like to find out further information, please contact us.