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Jun 29

Bargain-Bin Pants, Procurement, And The Could-Have-Been Gremlin (You Deserve Better, Part 1) 

By Procurement No Comments

You know that one pair of pants that’s been sitting in your closet for, like, two decades? That you maybe wore one time on a Thanksgiving back in 2007, but they were a little itchy and a little snug and the folds fell in all the wrong places giving you that skinny-fat, oompa-loompa-ish appeal? But they’re cute, right? And one day you’re going to fit into them just right, right? 

Those are your could-have-been pants. The intention is that they keep you hopeful, help you look toward a better future where you embody the person who wears those pants—whether that means you have the body, the confidence, or just someplace to go to wear ‘em(Thanks, Covid.). That’s an admirable intention. 

But the reality is that they make you feel like sh*t. You shove them to the back of the closet in disgust, wistfully thinking of all the things that could have been, if only this, if only that, blah, blah, blah, pity party, Ben & Jerry’s, world’s smallest violin, blah.  

The reality is that those pants that looked super good on the hanger and that you got a Great Deal™ on during that super sale—they were never right for you, and they’re holding you back. Just like everybody has (or, at least, has had) those could-have-been pants somewhere in their closet, so does every business have a little money gremlin screeching taunts about, “Wouldn’t it have been nice if you could have hired that new salesperson? Stash back a little savings? Upgrade to that swag new Keurig in the break room?”  That’s your could-have-been gremlin, and it’s eating your business alive. 

Don’t Feed The Gremlins

Gremlins, tiny little agents of chaos that like to dismantle good things at their source. They like to feed on things like lost receipts, manual processes, paper, lost time… all the subtle but pervasive inefficiencies in business that we’ve grown to overlook. But while we keep daydreaming about better business days, the could-have-been gremlin grows and grows. We build next-steps on top of shaky foundations, compound ineffective processes on top of ineffective processes, and, eventually, it all starts spiraling out of control. If left unchecked, your could-have-been gremlin will be dancing in the ashes of your hopes and dreams while you slap up a going-out-of-business sign and start sadly scribbling your way through layoff paperwork.

But maybe it hasn’t gotten quite that extreme yet. Maybe your gremlin is just a wee little guy snooping around for something to sink his teeth into.  Maybe you can still save your business from a fiery death if you can learn these simple lessons: 

  1. It doesn’t matter how cheap something is if it’s not the right thing. 
  2. It doesn’t matter how great something sounds if it’s not what you need.
  3. And daydreams only happen for real, for real as a product of your continued, repeated actions. It’s a series of right choices—saying yes to the right things, and no to the wrong things—that take dreams from haunting hopes to full-on reality. 

To go back on any of these lessons is more expensive than many people realize, because they’re fractal. They spiral. In life and in business. 

If you want to succeed in business, you have to buy the right things at the right price, not the wrong things at a low price. And you have to think about the value of your time (and your employees’ time.) Time is the only currency you can only spend once. Dollars just breed like wild rabbits the more of them you have—there’s no shortage. So, when it comes to procurement, you should have an option that… 

  1. Saves you time. 
  2. Saves you money. 
  3. Both 
  4. Potato 

If you answered C, congratulations! You’re on the success wagon already. So what does that look like in the ‘20s? First off, it means ditch the 90s tech. No fax machines. Fax machine bad. Give the fax machine to some Insta-famous vaporwave artist so they can repurpose into something cooler, because it is not serving you in your business. In fact, all the paper processes have got to go. Paper checks. Paper invoices. Get them out of here. Forget about them. They’re dead to you now. (Just like all those trees, ba-dum-cha!) 

Digitization = good. Flex those techie muscles and get in on this automation thing, all the cool businesses are doing it. Things you can automate include: 

  • Expense reconciliation
  • Receipt capture
  • Supplier indexing
  • Asking for signatures on contracts (P.S. e-signing is love. You def need that.)
  • Spend forecasting by department or category
  • Expense categorization

If you’re shopping on the Premikati Marketplace, you can set parameters for your suppliers. Got an eco-friendly hipster kind of gig going on? Shop local, no problem. Diversity filtering? Yes, ma’am, #shepreneur #girlboss. (By the way, we’re women-owned, too.) Do you need your specific suppliers that you already have but all the perks of Premikati? We’ll onboard ‘em, hakuna matata.  

And it’s super easy to do all your procurement shopping on Premikati Marketplace too, because it’s setup with the same sort of intuitive interface that’s used by Amazon and other online retailers. We even do that virtual cards thing so you get full spend visibility, fraud security, risk reduction, and hella cash back because you can give literally everyone a spend-limited card because you have literally unlimited physical and virtual cards thanks to our partner, Ramp. 

And we’ve got pricing plans to fit any budget, so you’re going to get the right thing at the right price, no surprises. 

Kick the could-have-beens to the curb and take action on your dreams. Want a differently-shaped body? Diet and exercise. Want to boost your confidence? Join Toastmasters. Get a life coach. Want to go somewhere nice? Google that nonsense, make a plan, grab your mask (Thanks again, Covid), and take your happy behind on to the niceness. You want extra cashflow in your business, a boatload of extra time, and definitely internet cool points? Use Premikati for your procurement. 

It’s not the outdated processes, it’s not the save a few bucks here or there one-off software solution, and it’s sure as hell not your could-have-been pants that are going to get you to your dreams. It’s you, and your choices, and you deserve better.  

So here’s the plan: 

  • Out with the old, in with the new, breathe a sigh of relief. Get rid of the pants. Get rid of those kitchen gadgets that don’t work right while you’re at it. And get rid of your analog processes, outdated procurement software, and your business gremlins. 

With Premikati, you can order what you want, where, when, and how you want it. No IT required. No commitment. And seamless scaling that grows with you (unlike a certain pair of pants). Ready to start with your one-stop procurement solution? We can have you going within hours. Reach out to us today.

Jun 14
procurement managed services for PE

The Undeniable Value of Procurement Managed Services for Portfolio Performance

By Private Equity No Comments

Operating partners always search for innovative strategies to optimize portfolio companies’ performance.

Procurement, an often-overlooked area, presents a remarkable opportunity for cost optimization and improved operational efficiency.

The key lies in procurement-managed services.

The Game-Changing Nature of Managed Services

Managed services bring a fresh, data-driven strategy to procurement, transforming this traditionally administrative function into a powerful value driver. Backed by cutting-edge analytics and deep industry expertise, these services rapidly become a game-changer in procurement.

The Power of Intelligent Buying and Smart Spending

By shifting to managed services, one can realize an immediate 8% to 12% reduction in purchase costs. This is enabled by sophisticated analytics and a network of experienced procurement professionals who provide comprehensive support.

The approach is all about intelligent buying and wise spending, delivering sustainable savings across all spending categories.

Leveraging Volume Aggregation and Expert Insight

Managed services offer the advantage of volume aggregation and expert insight.

By aggregating demands from multiple clients, they can negotiate better prices, particularly in low-spend areas. Moreover, their scale provides deep expertise and real-time market insights across various categories, allowing us to learn from industry leaders and enhance our capabilities.

The Significant Cost Savings of Strategic Procurement Activities

The potential cost savings from strategic procurement activities are significant.

Consider this: one company slashed its operating costs by 19% by outsourcing its entire purchasing function. Another firm captured average savings of almost a third in its first three significant categories tackled following establishing a new central purchasing function.

The Need for a Well-Informed Perspective in Transitioning

Yet, like any strategic decision, moving to procurement-managed services must be made with a well-informed perspective. While effective for transactional activities, labor arbitrage can limit savings in strategic buying activities that require close internal cooperation.

Capturing the benefits of demand and specification management, which can account for 40 to 50 percent of total savings, also requires close collaboration with other business functions, which can be challenging for an outsourced provider.

The Transformational Impact of Procurement Managed Services

Procurement-managed services represent a significant opportunity for operating partners.

Leveraging advanced analytics, expert knowledge, and industry best practices can transform the procurement function of your portfolio companies into a strategic asset.

As always, it’s essential to approach this with a clear understanding of your portfolio companies’ unique needs and capabilities to ensure a successful transition.

As an SAP Ariba™ Gold Partner, Premikati is a leading services provider for all facets of Ariba™ and procurement in general.  To contact our team, click here.

Mar 27

Best Practices to Master Buying and Invoicing

By Procurement No Comments

CFOs and CPOs face numerous challenges when managing to buy and invoicing processes within their organizations. Efficient financial management is crucial to maintain a healthy cash flow, reducing risk, and making data-driven decisions. In this blog post, we’ll explore the top ten pain points related to buying and invoicing from a financial perspective, along with best-in-class solutions and supporting statistics.

 

Manual Invoice Processing

One of the most time-consuming and error-prone aspects of financial management is manual invoice processing. Automating this process with AI-based tools can significantly reduce the time spent on processing invoices and improve accuracy. According to the Institute of Finance and Management (IOFM), organizations that have automated invoice processing report a 60-80% reduction in invoice processing time.

 

Inaccurate Financial Data and Reporting

Access to accurate, real-time financial data is essential for making informed decisions. Implementing real-time data analytics and reporting tools can help CFOs and CPOs to achieve greater insights and improve decision-making. Companies that use real-time analytics experience a 54% improvement in decision-making speed, according to the Aberdeen Group.

 

Fraud and Compliance Risks

Fraud and compliance risks can have severe financial and reputational consequences for organizations. Enhancing internal controls with fraud detection and compliance management systems can help mitigate these risks. The Association of Certified Fraud Examiners (ACFE) reports that companies with strong anti-fraud controls can reduce fraud losses by up to 50%.

 

Decentralized Procurement and Purchasing Processes

A decentralized procurement process can lead to inefficiencies, lack of visibility, and increased costs. Centralizing procurement with a comprehensive, cloud-based procurement platform can streamline operations and reduce expenses. The Hackett Group found that centralized procurement can reduce procurement costs by up to 20%.

 

Inefficient Vendor Management

Managing vendors effectively is crucial for maintaining strong relationships and ensuring optimal performance. Implementing a vendor management system with automated vendor onboarding and performance tracking can improve the efficiency of this process. Deloitte reports that companies with efficient vendor management experience 26% faster vendor onboarding times.

 

Lack of Spend Visibility

Gaining granular, real-time insights into spending is essential for cost control and strategic decision-making. Utilizing spend analytics tools can provide CFOs and CPOs with the visibility they need to make informed decisions. Gartner states that organizations that leverage spending analytics can achieve up to 15% cost savings.

 

High Invoice Error Rates

Invoice errors can lead to payment delays, strained relationships with suppliers, and increased costs. Adopting a smart invoicing system with built-in error detection and prevention can reduce invoice error rates significantly. Ardent Partners found that companies using smart invoicing systems can reduce invoice error rates by up to 37%.

 

Slow Approval Workflows

Lengthy approval workflows can delay payments and hinder cash flow management. Streamlining approval workflows with automated routing and escalation features can expedite the process. PayStream Advisors report that organizations that automate their approval workflows experience a 45% reduction in approval cycle times.

 

Difficulty Managing Cash Flow and Working Capital

Effective cash flow management and forecasting are vital for maintaining financial stability. Implementing cash flow management and forecasting tools with real-time visibility can improve accuracy and decision-making. PwC found that companies that use cash flow management tools can improve cash flow forecasting accuracy by up to 36%.

 

Ineffective Budgeting and Cost Control

Budgeting and cost control are integral to financial success. Adopting an integrated budget management system with real-time tracking and reporting can streamline these processes and provide better insights. The Financial Executives Research Foundation (FERF) reports that organizations that implement integrated budget management systems experience a 33% reduction in budgeting cycle times.

 

By addressing these pain points with best-in-class solutions, CFOs and CPOs can significantly improve their organizations’ financial performance, reduce risk, and enhance decision-making capabilities. These improvements will ultimately lead to a more efficient and effective buying and invoicing process, allowing organizations to thrive in a competitive business environment.

Contact us to learn more!

Feb 16

Five Ways to Ensure your Sourcing Strategy Never Disrupts the Supply Chain

By Blog No Comments

Because sourcing is at the heart of any procurement strategy, it is critical to the success of your supply chain.

Poor sourcing strategies have a negative impact on the supply chain such as  downtime, low inventory, and a lack of supply chain transparency.

Here are five things you can do to protect your supply chain from disruptions:

1. Assemble the Right Team

It goes without saying that your supply chain requires people to function. More importantly, it requires the right people.

Consider the following when assembling your sourcing team; such as the ability to quickly learn, analyze large amounts of data, build long-term relationships, communicate, and negotiate.

2. Provide the Right Tools

In today’s supply chain climate, your productivity depends on the tools you make available to your team and the tools and solutions they have at hand can make all the difference.

With emerging technologies across the globe, the supply chain has never had the potential to be more efficient. 

A great example of a sourcing solution is SAP Ariba’s Sourcing tool.

3. Have a Solid Sourcing Strategy

Your sourcing strategy is used to find the most effective, efficient, and reasonably priced solution to your supply chain needs.

So, how do you identify the right product or supplier?

Here are some tips:

  • Understand the market trends. 
  • Always pick quality and time over price. 
  • Build relationships with several vendors in the market. 
  • Have clear expectations or targets. 

4. Have Multiple Vendors for Each Product Supplied

Building long-term relationships with your vendors or suppliers is extremely beneficial to the supply chain. However, if the pandemic taught us anything, it’s the importance of having backup plans.

Supply chains are more flexible, visible, and resilient than ever before. Despite this, there is still an element of uncertainty surrounding supply chains.

To be better protected, it is critical to work with more than one supplier. A great place to start is the Ariba network where over you can connect with over 40 million suppliers and growing!

5. Constantly Review Suppliers

A supplier review provides insight into the supplier’s performance.

Constantly reviewing a supplier ensures that potential disruptors are identified as soon as possible; giving you the opportunity to prevent them from causing harm to the supply chain.

To get the most out of your supplier’s performance, make a list of performance indicators. Quality, service, delivery rate, damages, compliance, innovative ideas, and cost are some examples.

Summary

Disruptions in the supply chain are undesirable. It’s not just that they cost the company time and resources, though those are significant. The unfavorability stems from the impact on the company’s customers.

What are some common disruptions in your supply chain?

One of your primary responsibilities as a supply chain or sourcing manager is to prevent disruptions. Particularly artificial disruptions. One of the most effective approaches is to develop an effective sourcing strategy.

For your procurement solutions and services, click here at www.premikati.com

Dec 07
premikati marketplace

2 Things Your Business Needs To Do ASAP

By Procurement No Comments

Do you need to take a serious assessment of your business right now?

For months, we’ve seen how COVID-19 has affected our personal lives, businesses, and the way our society functions in general. And if you haven’t taken the time to really dive into how your business is functioning from the ground up, I challenge you to make this your top priority.

The impact that COVID-19 has had on business is emphasizing what has always been true: The future is filled with unforeseen circumstances, and the world is changing fast. Businesses need to be smart, agile, and innovative, but it’s hard to do this if you don’t have a solid foundation in place.

Many businesses are experiencing budget cuts and a reduced workforce. Now is the time to become more strategic with your game plan and fix or improve current processes.

Plain and simple, if you haven’t already, you need to:

1. Cut costs.
2. Make sure time is used efficiently as possible.

Of course, while this may be simple, it is frequently not easy. Here are ways you can approach making these essential assessments:

You Need to Dial In Your Spending.
We want our businesses to not just survive—we want them to thrive. However, especially in the last several months, many companies have shifted into survival mode.

Companies in many industries are having to take a hard look at their expenses, and there have been significant cuts across the board. It’s essential to stay lean and mean, and you need to be bold, proactive, and smart when evaluating where you can cut back.

Part of successfully cutting costs begins with asking the right questions. I encourage businesses to consider:

  • What do you actually NEED for your business to operate right now? Are you actually accumulating things you don’t need? How have your needs changed with more employees working from home?
  • How are purchases approved? Who is in charge of approving purchases? Are they able to review and approve in a timely manner? Are inefficient processes causing your business to miss out on important opportunities that could have been? Who is spending money on what, and how can you find out this information?
  • Are you actually buying from the BEST supplier for your specific needs? Are you getting the very best deals on items you truly need? Are the products you’re using high quality? Does your supplier provide a top-notch shopping experience so you don’t waste time? Does your supplier provide excellent customer service?

Not only do you need to simplify your procurement process, but you need to make sure you’re also getting the most out of it.

Is Valuable Time Being Wasted?

While working from home can have its perks, there is an added layer of complexity due to the unique challenges of COVID-19. People are not simply “working from home”; they are doing everything from home. And with budget cuts, employees may be working harder and longer hours than ever.

Your goal here is to let your employees spend time on the things that really sustain and grow your business. Again, identifying how to fix and improve processes begins with asking the right questions:

  • Are your employees wasting valuable hours on easy-to-solve procurement issues? For example, how many hours do they spend manually reconciling purchase orders with invoices? (How many hours or days does this add up to each year?)
  • How long do employees spend researching the suppliers with the lowest costs? After investing in hours researching suppliers, have you ended up actually saving money? Are the suppliers reputable? Do they offer white glove customer support where you can talk to a real person right away?
  • How much time does it take to get set up with each new supplier? Is it worth the investment? How long until you’ll need to find a new supplier to grow with your business? How long will it take you to figure out if it’s the best fit for your needs?

Don’t waste time doing things that have simple, elegant solutions already available.

***

No matter what your unique challenges may be during this time, every business can benefit from taking a hard look at how time and money are being used.

If you read this and felt slightly panicked or overwhelmed, you’re not alone. This stuff is hard. It can be time-consuming to figure out, and sometimes it can feel easier to let things get done the way they always have, instead of making the investment in a potential solution that may or may not work out. You need to figure out a way to make big changes… without wasting even more money and time.

Premikati Marketplace has you covered. How can you know for sure? We know from experience exactly what businesses (like yours!) struggle with the most.

Premikati Marketplace helps your business:

  • Cut costs. Companies that use Premikati Marketplace save up to 35% due to pre-negotiated pricing on millions of items, efficiencies, and spend visibility.
  • Use time efficiently. Set up Premikati Marketplace in less than 24 hours. You don’t need any IT or technical admin support, either.

Click here to learn more about the Premikati Marketplace

Oct 05

Contract Management Software Boosts Quick Wins for Procurement Teams

By Procurement No Comments

Contracts are the heart and soul of procurement operations. Even a few outdated processes can slow down your team and impact supplier relationships. A modern contract management system, however, can eliminate many long-standing painpoints, save time, and even enhance communications with suppliers in ways that may lead to greater trust and better deals. The following are just a few reasons that robust contract management is a big win for your procurement team:

Easily Search Using Keywords

Do you know where all your contracts are? Do you know which suppliers provide which items without having to go on a wild goose chase? A good contract management system helps centralize your contracts in an indexed database so you can easily search for whatever contract information you need, even on the go.

Blaze Through Contract Processes With Templates

Most procurement teams send a lot of very similar contracts that go on to follow very similar processes. Instead of starting over from scratch every time or using makeshift methods (like the “find” function) can result in errors. Contract management based on SAP Ariba enables the use of templates to manage contract cycles that behave alike. By using templates, your team can ensure that all changes relevant to the supplier at hand have been made accurately and consistently across the board, more effectively and efficiently than other, outdated methods. Even if entire contract templates don’t sound suited to your business, SAP Ariba can handle a full clause library so your team can pick and choose as needed.

Templates help ensure agreement terms are in line with your company’s legal advice from the start, speeding up contract creation and completion to unprecedented speeds. This doesn’t mean you’re locked in, though. SAP Ariba-based contract management also allows for non-standard agreements which require closer review. 

Information Dashboards and Notifications

When one of these nonstandard agreements comes through, all relevant parties can receive a notification to review the requested changes. This helps eliminate minor changes that can turn into big risks that might otherwise go unnoticed without a templated system. This helps ensure a healthy start for buyer and supplier alike. 

Other information dashboards can present important info in a quick, digestible, easy-to-under format. Find data on all of your contracts like contract duration, bids, and upcoming important dates.

Alerts for impending contract renewal dates can offer teams enough time to re-evaluate each supplier and research alternatives before the renewal date instead of being blindsided when the renewal date has come and passed. This way, your team can enter negotiations well prepared as well as save everyone time in the process. 

Manage Compliance And Performance

Including managing compliance for nonstandard contracts and mitigating many of the associated risks, a good contract management system can manage both internal and external compliance concerns. Whether compliance from a regulatory body or an internal expectation of performance and quality, SAP Ariba can ensure that the entire procurement process is visible and everyone involved is compliant to all relevant standards so any issues can be dealt with early, not once they’ve already caused a problem.

Esignatures For Better Speed and Accuracy

Pens are a thing of the past for procurement contracts. Esignatures bring a lot of benefits to the table for procurement teams. Not only is it much, much faster for everyone to sign online than to fax or snail-mail back and forth, it’s also safer (in Covid-19 terms and compliance terms!). Esignature software like DocuSign which is the platform of choice for SAP Ariba users walk suppliers through every box that requires a signature or initial to ensure that nothing is missed in the signing process. Esigning software can also send automated reminders to clients to ask them to please sign the contract, saving your procurement team a lot of time, leg-work, and chasing. 

Nurture Supplier Relationships

All of the things combined help you nurture relationships with your clients. Your team will have more time and more energy to truly engage with suppliers to establish trust and rapport—two qualities of a great buyer-supplier relationship that can easily net your team better deals and priority communications. 

See Your Best-Value Suppliers At A Glance 

A proper contract management system is also able to pull all of the above together to show you which of your suppliers are the best value based on the data you have provided. Based on data, good procurement software can let you know which suppliers to focus on in order to make the greatest impact. That may mean deepening partnership opportunities with some suppliers but it may also call attention to low performers so changes can be made as soon as possible. 

If you want to see what we can do for you with our SAP Ariba-backed contract management system, reach out to us today. 

About Premikati

Premikati is a woman-owned business of procurement experts providing best-in-class software to maximize your company’s ROI.  

Our award-winning team has a 100% success rate implementing on-time and on-budget, due to our agility, leanness, operational experience, and the ability to tailor the transformation process from C-level to end user. (For more information, visit www.premikati.com)

Jul 12
Premikati Marketplace best Procurement Software for SMBs

Don’t Let These 8 Things Happen To Your Procurement Team

By Procurement No Comments

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!

 

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