It’s Been Eight Days Since the First Procurement Independence Day

Eight years ago, Procurement Independence was Declared at the Coupa Cabana Cafe. Since then, there has been a surge in Enterprise e-Procurement Applications on both sides of the Atlantic, and many can be deployed to all employees across the global organization to handle requisitions and procurements.

In other words, an average organization has no excuse to be a slave to old MRP and ERP systems and the slow and inefficient procurement processes they enforce upon you. But many organizations still are slaves to broken systems that cost them over $100 to process an invoice (compared to the $30 to $40 average and the $3 to $4 average for a modern e-Procurement system with end-to-end invoice automation) and 30% to 40% leakage on negotiated savings due to overpayments and maverick spend.

So this year, make an Independence Day resolution to achieve Procurement Independence. Then your organization will have a real reason to celebrate.