Boost Usage of Contract Pricing

Your company spends a great deal of time and money researching prospective suppliers and negotiating contracts with substantial discounts. But remember, your employees have to use them to realize any savings at all! And all too often, they don’t.

Get Those Early Payment Discounts

Most suppliers offer a standard 2% “early payment” discount to encourage business customers to pay promptly. Yet most buying organizations are unable to capture this financial benefit due to inefficient, manual processing of invoicing transactions and unclear visibility into PO’s issued. But it turns out early payment does more than save you money, it also improves your supplier relationships!

Enforce Your Competitive Bidding Rules

Most Purchasing organizations establish rules around when orders should be subjected to competitive bidding. Unfortunately, despite having the rules on paper, they aren’t enforced and therefore rarely followed. But you can change that!