Procurement Process Meaning

Turn Your Accounts Payable into a Profit Center!

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The act of acquiring or buying goods from an external source is the simple procurement process meaning. But, let’s face it, procurement is often anything but simple. After multiple acquisitions disparate systems can have your head spinning, which is why you need Tungsten Network.

Tungsten Network starts by eliminating the inefficiencies in your accounts payable department. E-invoicing dramatically cuts down on mistakes and reduces invoicing costs by as much as 60% and it opens the door to so much more. Companies who use Tungsten Network’s e-invoicing services receive real-time data on their spending at the supplier, enterprise, service, and individual invoice level. Tungsten Network Analytics is used to:

  • Deliver real-time and historical price variance analysis
  • Provide rationale for vendor consolidation
  • Ensure contract and policy compliance

Even better, Tungsten Network Analytics is launched in just 48 hours, meaning you can get down to the nuts and bolts of spend in short order.

Find out more about Tungsten Network and how we are simplifying the procurement process meaning in today’s enterprises. Download this category insight for details.

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