FAQs

Get Answers to Your Burning Procurement Questions

Why should I change my procurement processes?

Within smaller business operations, there is often less attention paid to purchasing from department to department. There may not be dedicated personnel or a finance department to oversee POs, so purchasing is done ad hoc without much regard to the availability of funds, pacing or cost of sale implications. In the enterprise, these functions are consolidated, and often evaluated and substantiated by technology and data, providing buyers with oversight and the tools they need to make informed decisions.

Without this valuable financial data, a company runs the risk of overextending themselves by over-purchasing or overspending on the items they need. Implementing a system to govern and consolidate all spending decisions is critical to achieving this goal, but if done manually, with spreadsheets and through other methods, error does occur, and an inordinate amount of time is spent in managing the process. An appropriate technology solution should be applied, as it will provide immediate value, reduce error and allow employees to focus on higher-value tasks.

What are the benefits of a digital procurement strategy?

  • Cloud-based systems are easy to manage and always available, assuring real-time insight into procurement activities.
  • The analytics delivered by procurement technology provides stakeholders with the ability to make data-driven decisions and optimize costs, improve processes and streamline reporting workflows.
  • An e-procurement strategy removes silos within the organization, enabling collaboration between departments and consolidating efforts, resulting in cost reduction and process improvement.
  • Automation delivers great value to SMBs as repetitive tasks are accomplished efficiently and accurately, eliminating errors and improving the quality and voracity of internal data. Many SMBs spend an inordinate amount of time backtracking to find mistakes and often overlook small errors that add up over time. Automating these baseline processes improves accuracy and allows employees to devote their time to advancing business goals.
  • Another great advantage to applying an e-procurement strategy is the ability to predict trends in spending. Analytics delivers a clear picture of spending patterns and help the organization prepare for what’s to come based on actual data rather than just conjecture and instinct. Companies can be better prepared for the future and will be able to provide leadership with more accurate projections on the road ahead.
  • E-procurement also enables better risk management as it reduces overspending, redundancy, and costly errors in administration.
  • Compliance, whether related to company policy or regulatory mandates, is easily managed with e-procurement. If this is a priority for your business, an e-procurement solution will support your needs.

How does Premikati leverage SAP Ariba?

Premikati is one of only six trusted SAP Ariba™ Partners in the world who can purchase, deploy and manage SAP Ariba solutions as an outsourced service. Our procurement and contract management expertise have helped numerous companies streamline their business processes, control spending and cut costs, and move from where they are currently to best practice, no matter the company size.

With our SAP Ariba expertise, Premikati is your partner for:

  • New implementations
  • Existing configuration
  • Assessment realm expansions
  • Complete realm admin outsourcing
  • Guided buying
  • Spot buying
  • Procurement desk
  • Advanced contract authoring
  • New release readiness
  • Administrator training end
  • User training
  • Change management

Why does Premikati only work with SAP Ariba?

We want to be the best at what we do. We stay laser-focused on leveraging the full capabilities of SAP Ariba without being distracted by other technologies, so we can become the go-to partner for companies looking to get the most value out of their SAP Ariba investment.

What savings can I see with the Premikati Marketplace?

Expect to find price savings of 8 to 10 percent and as high as 35 percent by reducing tail spend, plus rebate savings of around 1 percent on typical Premikati purchases. That’s not to mention the days or weeks you save in productivity.

Can I add my own suppliers to the Premikati Marketplace?

We can do that for you! You have the option to use both the Premikati Marketplace catalog as well as your own contracted catalogs with your favorite suppliers. The Premikati team will work with your suppliers to get them onboard and transacting. There are hundreds of suppliers already on the Marketplace offering thousands of goods and services. Adding your own specific suppliers will add a bit more cost and implementation time.

What are the benefits of contract management?

  • Fast time to value: Get underway quickly in the cloud, as our team takes care of all of the work.
  • Customer service: Our friendly and knowledgeable team of contract managers will assist you with all of your contracting requests.
  • Controlled processes: You’ll be alerted if pre-approved format or language is modified, helping you control non-standard agreements.
  • Complete visibility: Stay informed throughout the contract cycle with automatic alerts, handy dashboards, and configurable reports delivered directly to you.
  • Central repository: Never lose track of a contract with secure, electronic storage and powerful search tools for access on demand.
  • On-time renewals: Receive notifications well in advance of key milestone dates and make the most of your business opportunities.
  • Electronic signature: Eliminate the time and expense of shipping and signing multiple contract copies by adding e-signature capability.
  • Stronger compliance: Stay informed about any off-contract activity with controlled processes, automated tracking and a full audit trail.

What exactly is SAP Ariba Snap and how does it differ from standard SAP Ariba?

Snap is an implementation of SAP Ariba Buying and Invoicing and encompasses the critical elements of a procurement foundation at a minimum of complexity. See how Premikati, Inc. made the complex simple by implementing SAP Ariba Snap into mid-market business.