Working with your firm’s ESG office we assist in the development of a comprehensive supplier diversity and sustainability program.
Why do you need Procurement?
A centralized procurement program mitigates supplier risk by vetting external suppliers and establishing the appropriate cost, contract and service frameworks most beneficial to your organization. Outsourcing procurement is a cost effective and fast way to establish a fully functional team that leads to targeted and transparent results.
Common Challenges without Procurement
A lack of process when purchasing results in redundancy and greater risk of fraud or unethical practices.
Poor Contract Management
Organizations often struggle to manage their contracts with suppliers, standardize T&Cs, negotiate excellent business terms and monitor supplier performance. Without a contract management platform, key information may be lost - leading to potential disputes, missed opportunities and auto renewals.
Limited Visibility into Spend
An organization may have limited visibility into its spending habits, making it difficult to make informed decisions about how to allocate resources, manage suppliers and execute cost initiatives.
Fragmentation of Spend
Due to a lack of strategic sourcing, it may be difficult for an organization to identify the best suppliers for their needs - leading to suboptimal purchasing decisions.
Insufficient Market Knowledge
Organizations typically lack knowledge of specific market trends that create opportunities for cost reduction.
Why to engage CCM?
- Flexible and bespoke approach, adaptable to your business organization
- Technology, vendor and third party agnostic
- Access to category experts
- Flexible cost model
- Savings across a large range of spend categories
- Access to CCM’s Spend Control Portal
Oversee Supplier Risk
Helping to define custom supplier risk criteria CCM recommends a process to effectively monitor and reduce risk.
Effective Budget Management
Tracking your spend and sharing market insights helps you to stay within budget and be prepared for large expenditures.