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What is Procurement Power?

Enhancing the profit margins obtained from suppliers can be a daunting task, often seen as a refined skill. In the procurement process, it is clear that suppliers do not consistently offer their most attractive prices, leading to an ongoing game of negotiations regarding profit distribution between your organization and the suppliers. The most favorable pricing is largely determined by the supplier's desire to win your business and their apprehension about potentially losing it. So, what is the most effective way to convey this idea? Procurement Power provides an efficient platform that encourages suppliers to compete against one another while being aware of their bidding standings, thereby fostering a fairer marketplace. Many Fortune 500 companies have acknowledged the benefits of this approach and have been utilizing various auction systems to engage their suppliers for several years. It is crucial to remember that every transaction comes with its own set of costs, which can vary depending on the type of item being purchased and the depth of negotiations undertaken. Moreover, grasping these nuances can facilitate improved decision-making and cultivate stronger relationships with suppliers, ultimately benefiting the organization as a whole.

What is Fringe?

Juggling numerous tasks can often lead to stress, so why not concentrate on a single endeavor instead? Effectively leveraging the 80/20 principle enables you to optimize processes for your benefit. Fringe allows you to set rules that boost actions and transparency across your business, facilitating smart monitoring of outcomes and managing expenses. Turn the challenge of 'spend-undermanagement' into a lucrative opportunity. By gaining real-time visibility into your indirect spending—which typically accounts for about half of your total costs—you can effectively reduce unforeseen expenses. Devote your energy, time, and strategic emphasis on the crucial spending areas and primary suppliers to unlock true value in your resources and finances. Make the most of your existing technology to seamlessly capture, evaluate, analyze, and report data that contributes to refining your supply chain. Collaborate with suppliers of your choice instead of being confined to a predetermined list with whom you might not have a solid rapport. This strategy proves to be significantly more economical and less cumbersome than conventional procurement software, which can often be obsolete and inefficient. Moreover, by adopting this method, not only can you improve operational effectiveness, but you can also cultivate stronger partnerships with the suppliers you prefer to work with, ultimately leading to greater business success.

Media

Media

Integrations Supported

Additional information not provided

Integrations Supported

Additional information not provided

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Serex Procurement Solutions

Date Founded

2013

Company Location

Canada

Company Website

www.serexprocurementsolutions.com

Company Facts

Organization Name

Logicore

Date Founded

2013

Company Location

New Zealand

Company Website

www.logicore.co.nz/

Categories and Features

Procurement

Asset Management
Auction Management
Bid Management
Budget Management
Catalog Management
Contract Management
Inventory Management
Invoice Processing
PunchOut
Purchase Order Management
Receiving
Requisitions & Approvals
Sourcing Management
Spend Management
Supplier Management

Categories and Features

Procurement

Asset Management
Auction Management
Bid Management
Budget Management
Catalog Management
Contract Management
Inventory Management
Invoice Processing
PunchOut
Purchase Order Management
Receiving
Requisitions & Approvals
Sourcing Management
Spend Management
Supplier Management

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