Ok, let’s do it! How to boost procurement value with Public Dollar Optimisation in 5 steps
1. Make better, data-driven decisions – with the right data in front of you and real-time analytics, visualisations and reports, you can make data-driven decisions that benefit your community and your budget.
2. Optimise your supplier lifecycle– Take charge of spend planning, procurement, contract management, third party risk, due diligence, ESG alignment, innovation, and strategic partnering with purpose-built supplier management software.
3. Get strategic about your procurement– Procurement and supplier relationship management can take months – don’t waste your time on vendors who don’t fit the bill. Get strategic with your procurement by using supplier onboarding software, and establishing procurement criteria that automatically weeds out the wrong suppliers and brings your best options to the surface.
4. Bring your processes online– Eliminate cumbersome, time-consuming paper-based processes into a single online solution. How many times have you lost an important document or waited months for an approval that got lost in the shuffle? Keeping all your procurement, supplier and relationship management documentation in a single online hub can eliminate the risk of wasting valuable public time and resources.
5. Foster strong partnerships with the private sector – Manage the entire contract lifecycle and maintain strong ties with your local suppliers. Investing in businesses within your community not only strengthens your community ties, it can also help you align with your ESG goals and reduce supply chain risks.