Helping companies create more value together
Negotiate better deals with your suppliers and grow profits
Procurement is a difficult discipline in any company where strategies, technologies and relationships with suppliers have to be balanced against each other to achieve the best outcomes. Despite all these efforts actual results can suffer at the very point where it matters most: the actual trading between you and your suppliers. In short money is lost, which could otherwise have been turned into profits.
3 key areas can help grow profits:
In practice trading often happens via emails and spreadsheets. This creates friction for both buyers and sellers and leads to unstructured data and processes. A well-designed trading platform can save both buyers and sellers time and money and as a bonus improve data security, privacy and reduce errors.
Negotiate more and better
Negotiations as a procurement strategy can unlock hidden value, usually left on the table with zero-sum price negotiations or auctions, because more parameters can be explored and turned into value. Negotiations are a better way to build longterm relationships because all parties can do good business. As a bonus, they also offer more opportunities to drive innovation.
Add AI support to negotiations
Adding more parameters to negotiations, especially in dynamic markets with multiple suppliers, changing prices, exchange rates etc, increase complexity, but in the complexity there is value to be found. Specialized AI can help you navigate the complexity and find hidden value. Often the complexity means that negotiations are not done often frequently enough or not deep enough. This does not have to be the case with the right tools.
If you recognize any of these gaps in your current procurement, we can help you with one of our cloud-based services. Starting from simple solutions it is possible to add more capabilities as needs and ambitions grow. If your current trading is done via email and spreadsheets you will find, that the first step of removing friction will in itself have a big impact and pave the way for future upgrades. We aim to give everyone access to robust and powerful technology in an affordable way and via a subscription model there is a high level of cost certainty and predictability. Read more about our services here.
If you would like to get an idea of what the return on investment could look like you can find some inspiration here in our Insights section, where you can also read about, how negotiations get complex. But all companies are different, so why not reach out and let us discuss together, how we best can help you. Just fill in the short contact form and we will get back to you. We look forward to talking with you.
We make resources available to inform and inspire. We aim to keep things as simple as possible. There is enough complexity in the world already. Eventhough we offer a small, specialized part of the overall digital transformation, we look at the bigger picture and are happy to share our thoughts about that. Apart from the resources available here on the website, we write regularly on Linkedin.
We also write blogs here on the website, where you can find more thinking on different topics relating to AI, digital transformation, procurement etc.
Check out our series on Simple Ideas