The 7 best benefits of working with a Procurement Consulting Group
Curious about what it’s like to work with a Procurement Consulting Group? As one ourselves, Hudson Procure are here to answer your questions!
In this blog, we will tell you the seven best benefits of working with a Procurement Consulting Group. If you aren’t sure what procurement consulting is, check out our service page! Now, buckle up, and let’s jump into our first point…
1. Recognise your needs
You don’t always need to contact a Procurement Consulting Group with a plan. Part of their service is to help you recognise what goods or services you need, depending on your business goals.
Procurement Consulting Groups are experienced in recognising an organisation’s needs. So, whatever your industry and sector, you can receive guidance on how to proceed with your work.
This stage can essentially consist of you explaining your company goals. Then, a Procurement Consulting Group can assess what materials or services you will need.
2. Analyse spending
As part of recognising your needs, Procurement Consulting Groups can analyse your spending. Then, they can assess these and how you can move forward with your goals. Plus, they can help you find ways of being more efficient with your spending. This also includes planning your future spending for any upcoming projects. They can help you categorise your key spend areas into:
- Critical and non-critical
- Domestic and international
- Direct and indirect.
3. Research the supplier market
Once your goals and needs have been established, your Procurement Consulting Group can research suppliers. This will result in having as much information as possible on the market. As well as which suppliers are likely the best fit for you. Some may charge more than others, but others may use less efficient materials, and so on. Getting you the most suitable supplier is crucial for ensuring you are pleased and confident with the project.
4. Produce documentation for suppliers
When you are out to procure goods or services, you’ll need to produce lengthy tender documents. These documents need to contain a lot of very specific information. If you are new to the process, you’ll likely not know how to approach these. A Procurement Consulting Group can produce these on your behalf. It takes the stress out of the process and ensures you stand the best chance of connecting with the best suppliers.
5. Ensure you stay compliant
There are certain rules and regulations when it comes to procurement. Procurement Consulting Groups can ensure you remain compliant with these and maintain a transparent procurement process.
6. Save you money
You may consider hiring your own inhouse Procurement Consultant. Many organisations will assume this is the most cost-effective solution. However, it might not be the case.
You would have to go through the hiring process which can take months and cost a lot of resources. When you work with a Procurement Consulting Group, you can access support instantly. Plus, you only need to pay them for the work they do. Hiring your own Consultant means you’ll still need to employ them when you might not essentially need their services. They would only really be a viable option if you are consistently procuring goods and services.
7. Improve your procurement strategy
We have made it to our final point on the benefits Procurement Consulting Groups. When you work with these experts, you’ll be improving your procurement strategy. This is because, as experts, they have a lot of experience and knowledge to offer you. You can apply this to your strategy, and it can continue to benefit you in future endeavours.
Summary
We have reached the end of our blog on the seven benefits of working with a Procurement Consulting Group. Let’s recap everything we covered so nothing is forgotten!
Here’s how a Procurement Consulting Group can help you:
- Recognise your needs
- Analyse spending
- Research the supplier market
- Produce documentation for suppliers
- Ensure you stay compliant such as having a transparent procurement method
- Save you money
- Improve your procurement strategy.
Still got questions about Procurement Consulting Groups? Get in touch with our experts to learn more and allow us to answer your questions. We’ve worked across 20 sectors with businesses in over 30 different countries over the last 20 years. So, we are confident we can support you, whatever your requirements.
How can Hudson Procure help?
Want to know more about how Hudson Procure can help you? Check out our services and see which may be most appropriate for you!
Procure Consult
With Procure Consult, we offer support with tender management and ad-hoc procurement consultancy. Our expert team will manage the end-to-end procurement process or offer assistance with any stage, as and when required.
Procure Health Check
With Procure Health Check, we’ll conduct a full review of the strategic and operational procurement processes within your organisation. We’ll identify the areas that need improvement and help you drive greater value from the procurement process.
Procure Analyse
The purpose of Procure Analyse is to conduct a high-level analysis of your spending activity. We’ll help you understand your current strategic purchasing behaviour and highlight areas that can deliver greater value. Procure Analyse is also offered as part of Procure Health Check or as a standalone service.
Procure Outsourcing
With Procure Outsourcing, we deliver a range of procurement solutions on an outsourced basis, completely bespoke to you. This can range from delivering multiple tender projects as a package to delivering the full procurement function of your organisation.
Procure Post
Are you trying to find a supplier for your project? Post your tendering opportunity onto any of our 11 sector-specific portals for FREE with Procure Post!
Housed by our sister company, Hudson Discover, our portals host thousands of tendering opportunities for organisations of all sizes. For an additional cost, we’ll even help you identify your requirements and find the most suitable suppliers for your business.
Get in touch for a consultation and find out how we can help your business drive better value from procurement.
Check out our other blogs for further Procurement Insights:
