Reduce Costs

Strategic Procurement: Reducing Costs & Improving Value Contribution

Procurement organisations are most noted for reducing costs in their organisations. Cost reduction is hard coded in all areas of focus from procurement strategy to the tactics. It is the key performance indicator by which procurement is traditionally recognised. Strategic procurement teams go beyond cutting price and traditional expectations. Procurement teams understand minimising costs is but one of many key performance indicators tied to value contribution – but it is foundational. Strategic procurement has many performance indicators and strategic procurement leaders also understand there are many ways to reduce costs.

To do this, organisations are finding the need for trusted technology advisors who partner to redefine processes, gain greater insight into supplier data, drive supplier innovation and reduce risk.

BravoSolution has a proven record of global success, helping customers unlock the power of procurement to optimise sourcing initiatives, deliver cost reduction and identify opportunities to collaborate and innovate with suppliers. The BravoAdvantage strategic procurement suite provides end-to-end automation of the complete strategic procurement lifecycle. It integrates supplier lifetime value throughout the entire strategic procurement process to provide organisations with unmatched visibility into their supply base through every phase of the strategic procurement process.

Specifically, BravoAdvantage Sourcing and SourcingPlus are two technology solutions, part of the BravoAdvantage strategic procurement suite, that bring immediate and lasting value to procurement organisations.

In February 2015, Gartner, Inc. released their latest Magic Quadrant for Strategic Sourcing Application Suite. BravoSolution was positioned in the top quadrant as a top procurement technology vendor for the third straight report (2010, 2013 and 2015), and was among the most highly-placed vendors for both its “completeness of vision” and “ability to execute.”

Strategic procurement teams utilise BravoAdvantage Sourcing and SourcingPlus as a foundational tool to deliver cost reductions. Learn more here.

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