When best-in-class companies are looking to spend money in
these categories, they research and identify quality services /products at
rates that afford the best value. As budgets increase to allow for growth in
these areas, it is important to control wastage and eliminate purchases of
overpriced products or those products that produce no quality benefits. It is
essential for Procurement and IT to communicate effectively and to establish a
wants vs. needs list so that technology spend is first allocated to those
projects and products that are necessary to the organization’s central goals.
Through my work in telecom, I have learned that it is easy
for companies to lose track of their expenses and not follow up with telecom
purchases/services to ensure that any negotiated savings were actually realized.
In order to source appropriately, Procurement groups must not only chose the
appropriate products/services, but they must follow up on these services to
ensure that billing errors are not occurring.
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