How can procurement consultancy services help your business?
Are you thinking about using procurement consultancy services to help your business through the procurement process? There are many advantages to outsourcing your procurement activities to the experts. In this blog, we’ll take you through each benefit, one by one.
What are the advantages of using procurement consultancy services?
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They can evaluate your spending behaviour
It goes without saying that when you use procurement consultancy services, you’ll have access to procurement specialists. They are experts in their field and have plenty of experience with buying goods and/or services. As a result, they’re able to evaluate your spending behaviour and help you make improvements.
To do this, a Purchasing Consultant will ask for your organisation’s transaction data. For example, they might ask to see details of the vendor and their values from a certain time period. With this information, they can conduct an analysis of your spending behaviour and provide you with a summarised report.
If this level of support is something you’re interested in, you could benefit from Procure Analyse. With this service, our Procurement Consultants will conduct a high-level, vendor-led analysis of your spending behaviour. They’ll provide you with a summary of their findings, and even help you identify areas that could be improved.
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Help you improve your spending habits
Another benefit of using procurement consultancy services is that it’s a chance to improve your spending behaviour. Procurement Consultants are experts in finding the best value for money. After assessing your spending behaviour, they’ll offer suggestions about the ways you can improve. This could include suggested procurement routes or value targets.
While necessary for your business, the procurement process can be extremely time-consuming. However, when you outsource procurement consultancy services, a Procurement Consultant will handle everything for you. Instead of developing procurement strategies or identifying areas for improvement, you can focus on other aspects of your organisation.
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Support your Procurement Team
Sometimes, you don’t need to outsource your full procurement function. You might just need some extra support for your team. If that’s the case, then you’ll definitely benefit from procurement consultancy services.
Procurement Consultants can work as an extension of your in-house Procurement Team. They can provide as much or as little support as you need. Whether you need a little extra guidance or full management of the end-to-end process.
We’ve already touched on this point, but its importance shouldn’t be overlooked! When you outsource procurement consultancy services, you’ll benefit from the professional expertise of Procurement Consultants.
This benefit is particularly attractive for organisations with limited resources. As we’ve already established, it takes a lot of time, effort, and resources to produce an effective procurement strategy. However, when you outsource, Procurement Consultants can produce an effective strategy in a fraction of the time. And at a reduced cost for your business!
Should you outsource procurement consultancy services?
If you’re unsure about outsourcing procurement consultancy services to experts, then don’t worry. We’re here to help! To help you decide whether or not this is right for your business, think about the following:
- Have you noticed a need to lower costs at your organisation?
- Are you able to analyse your spending behaviour effectively in-house?
- Do you have enough time and resources to dedicate to your purchasing practices?
- Do you fully understand the procurement process and all that it entails?
- Are you confident enough to produce tender documents, such as project specifications?
- Do you know how to analyse tender responses and find the best supplier for your needs?
These are just a few ways that Procurement Consultants can support you. This list of questions is certainly not exhaustive!
In summary
There are many advantages to outsourcing procurement consultancy services, some of which we’ve outlined in this blog. Firstly, they can evaluate your spending behaviour so you can better understand your habits. After assessing this data, they can help you find areas for improvement. This is particularly useful for organisations that are seeking to drive greater value from their procurement practices.
Not only that but outsourcing to Procurement Consultants will also save you time. As a result, you can focus your attention on other aspects of your organisation.
Finally, when you outsource, Procurement Consultants are able to provide however much support you require. Do you already have a functioning Procurement Team? Then they’ll be able to offer an extra pair of hands. Need the full procurement cycle delivered on your behalf? Procurement Consultants can help with that too!
How can Hudson Procure help with the procurement process?
At Hudson Procure, our procurement experts have nearly two decades of experience. No matter what kind of support you’re looking for, we can help.
Procure Consult
With Procure Consult, we provide support with tender management and ad-hoc procurement consultancy. Our expert team will manage the end-to-end procurement process or offer assistance at 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 require 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 purchasing behaviour and highlight areas that can deliver greater value. Our Procure Analyse service is offered as part of Procure Health Check or as a standalone service.
Procure Outsourcing
Procure Outsourcing delivers 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
With Procure Post, you can share your tender on one or more of our 11 sector-specific portals. This way, you’ll increase your chances of finding the perfect supplier.
Get in touch for a consultation and find out how we can help your business grow.
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