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ISG led and sponsored a detailed best practices study designed to identify
and document world-class procurement standards. Participants included leading
organizations such as Saks Fifth Avenue, SunTrust, Delta Airlines, EarthLink,
AT&T, and many other Fortune 500 and mid-market companies.
This effort enables ISG to back-up process recommendations with documented
Best Practices. |
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Procurement Process Redesign
While Strategic Sourcing is a periodic event for a given category, the Procure-to-Pay
Process encompasses the day-to-day management and control of large volumes of
transactions related to the purchase of materials and services. From the creation
of a need to the payment of an invoice, this process spends 30-70% of a company's
revenues.
But for many companies, the 'Process' is actually a set of loosely affiliated
activities scattered throughout the organization. Hand-offs, poor communication,
errors, and inefficiency result in a lack of control, poor visibility, and most
likely, tremendous waste.
Establishing appropriate controls, processes, policies and measurements (KPIs)
are critical for containing costs and for compliance with regulations and audit
requirements.
ISG merges the Reengineering expertise of the global consulting firms with an exclusive focus on procurement to deliver a highly effective and efficient solution, customized to our client's unique needs.
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Contact Us whether you are seeking a full process transformation or just want to optimize a part of the process.
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