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Discovering More Value In Procurement

Discovering More Value In Procurement

24th Oct 2017

CPO

By Stewart Stanton III, Managing Director, C2FO

Where are procurement leaders discovering more value?

The procurement industry is currently facing a sea of changes, especially in the world of their supply chains where technology is impacting their interaction in nearly every way. How the strongest of companies adapt, innovate and utilize technology given the constant pressure they are under from their stakeholders, offers lessons for all procurement professionals, regardless of industry, category or level. The most adept companies target their supply chain in a mutually beneficial manner to reduce costs but also ensure the strength of their suppliers.

This view was echoed earlier this year, in a survey of retail procurement executives conducted by C2FO. Nearly 90 percent said they are focused on improving profit margins. Nearly 75 percent feel part of the solution lies in boosting supply chain technology, and 43 percent of retailers surveyed plan to invest in supplier collaboration enhancements in the year ahead. Leading retailers understand their supply chains hold the key to cut costs, improve efficiencies, and deliver products faster to customers. 

Investing in Supply Chain Technology

When procurement teams can improve margins without making negotiations more complex, it’s a win for everyone. With C2FO and their differentiated working capital marketplace, companies can strengthen their supply chain while simultaneously improving margins and reducing costs — all automatically, as suppliers use their platform to offer discounts on their A/R in exchange for early payment.  

The C2FO solution does not alter any of a company’s existing procurement or payment processes as the technology simply interfaces to existing systems and then instructs those systems to pay suppliers less on an earlier due date the same method by which they are paid today.  It is simple to implement and easy to use on an ongoing basis.

The liquidity alternative C2FO provides to suppliers simply gives them the option to request early payment, on demand, at a price that makes sense for them. This strengthens your supply chain across multiple tiers and improves your supplier relationships.

  • No changes in terms, contracts, or negotiations

  • Procurement decides which suppliers are eligible

  • C2FO manages 100% of supplier engagement and support

  • Incremental discounts above and beyond contactual discounts 

  • Easy to implement and no additional procurement resources needed to run the program 

Further, the savings captured from their platform can be reinvested in other P2P solutions to further automate and add efficiencies to cut costs further.

Focusing on improved supplier collaboration
Let’s face it, managing all of your supplier relationships is critical to the business, but it can also be time and labor intensive. What if companies could provide a central working capital solution to help all of their suppliers operate more efficiently?

C2FO helps strengthen your supplier relationships, boost the financial health of your supply chain, and ­improve continuity and quality of supply.

This unique marketplace approach empowers suppliers to offer a discount they chose, in exchange for early payment, on-demand. The C2FO marketplace blends suppliers’ variable offers to optimize the number of invoices paid early. This unique price discovery maximizes savings and awards early payment to more suppliers than any other early payment solution.  

 

By Stewart Stanton III, Managing Director, C2FO

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