Is your purchasing software pulling its weight? Poorly executed purchasing platforms not only cost you time and money, they put your company at legal and reputational risk. If any of the following sound like you, it might be time to kick your lazy procurement software to the curb and trade up for a real man—uh, business marketplace. We meant business marketplace.
Spending 19 hours reconciling invoices
PO recon—while it sounds like some cool Navy SEAL mission, the reality is far less glamorous. In 2020, there is literally no reason to manually reconcile purchase orders with invoices or your accounts. Process automation here saves time and prevents costly mistakes, so you can focus on what really matters in your business instead of putting out fires or wasting time using outdated methods. Automated reconciliation ensures that everything matches up all of the time, without you ever needing to think about it.
Buying from the wrong supplier
Your purchase order is a legally binding contract—so what happens when you buy from the wrong supplier? Not only might you have to adjust the purchase to show the correct supplier (which is going to be a real doozy if you’re manually reconciling invoices and it’s already been reconciled) to keep a proper audit trail, you may also face legal repercussions.
Alternatively, you may be buying from a supplier that’s wrong for you. Perhaps you could reduce costs by using a supplier for multiple types of purchases in order to facilitate a loyal working relationship. Or, maybe you just picked the supplier that costs way more than the rest. The Premikati Marketplace can help you cut costs by offering new sources of savings via a list of high quality, trusted suppliers—many of which offer up to 35% discounts on frequently purchased products. The right supplier is waiting for you at Premikati Marketplace. Already have a couple of the right suppliers? We can add your own suppliers too!
… Or a supplier you don’t even have a contract with
Maybe your contract has expired. Maybe it was never a valid contract at all because its still sitting in a pile on someone’s desk, waiting to be signed and faxed and filed. Do you know which contracts are active and valid?
Don’t subject yourself to the legal risks that come with doing business without valid contracts.
“On average, 94% of tail spend comes from uncontracted suppliers.” —Premikati Marketplace
With Premikati Marketplace, you can automate old, analog systems and see which suppliers you’re working with—with the click of a button—in order to gain both efficiency and visibility.
Buying a mountain of stuff you don’t need
Would your warehouse and office closet make Marie Kondo giggle with maniacal glee? Space is a precious commodity especially as consumers and other businesses expect faster and more personalized experiences with every passing day. Every dollar spent on useless things that you don’t need is a dollar you can’t invest in moving forward with your business or keeping an edge on your competitors.
With good B2B procurement software, you can easily see what you’ve already bought so you don’t double (or triple!) up on what you need.
Buying things that are probably illegal
You want a supply chain that is socially responsible and legal at every link. The Premikati Marketplace is underpinned by SAP, a world-renowned company that is a leader in sustainability.
Shipping your orders to your house
There’s nothing else to say about this. You know who you are. Prevent it with a good procurement platform like Premikati Marketplace.
Tight budget with no approvals
Especially if you’re a startup or you’re maximizing growth or perhaps if you’re using a zero-based budget, money can be tight. Competition can be stiff. And sometimes, to make the move that will really help your revenue, differentiate you from a competitor, or skyrocket your growth, you have to make swift decisions. If your purchasing processes are bogged down by archaic methods and you’re waiting by the telegraph—err, email—for your PO approval, guess what? Your opportunity may have already passed. If you were making hand sanitizer in January 2020, you better bet you needed to scale and scale fast before the supplies were gone.
With a good procurement platform, you can control your spend to the cent but also implement automated purchase approvals. Stop leaky spend and without slowing progress… that’s the dream, eh?
Multiple logins
How many users and passwords do you really need to fulfill your procurement needs? Stop sacrificing security because Lilly is keeping her password taped to the bottom of her keyboard because she has too many to remember. Free up your tech support from endless verifications and password changes. Keep your purchasing processes safe and efficient by reducing the number of accounts you need for purchases. With the Premikati Marketplace, each member of your procurement team will only need one login total, not one login for EACH supplier portal. One and done – quite a nightmare saver for your tech support team.
About Premikati
Get what you really want from your purchasing software. The Premikati Marketplace offers procurement that is as intuitive as online shopping with the robust data of Fortune 100 companies and extensive customization options, all with no IT required and no commitment.
You can order what you want—where, when, and how you want it. Diversity filtering? Sure thing. Support local? Absolutely. We even support custom catalogs and customer-specific vendors.
Merge that with full spend control and visibility, real-time reporting and analytics, custom approval flows and automation, and you’ll find a best-in-class software that’s tailor-made for small- and medium-sized enterprise businesses.
Premikati scales seamlessly with your business with no impact to end-users and no additional training required. We have prices to fit every budget, and we can have you up and running in hours.
All of this with white-glove customer service included at no charge, so you can always trust you can talk to a real person when you need them.
Don’t settle for anything less. Contact us today!
