Amidst the uncertainty in today’s manufacturing industry, global supply chains have faced disruptions and demand has rapidly shifted in the face of evolving news. Manufacturing companies have had to adjust operations and identify opportunities to stay agile. Companies are responding by focusing on what they can control—prioritizing business spend allocation, optimizing procurement and AP processes, and reducing third-party risk.
Read the 2020 Manufacturing Business Spend Management (BSM) Benchmark Report with 11 powerful KPIs to help you spend smarter
, based on actual spend transactions and processing activity of US$1.7T of cumulative global business spend. You’ll learn why Caterpillar, DOW Chemicals, Woodward, Airbus, and Tesla
, among others, are concentrated on optimizing four key areas:
- Process Efficiency -- How efficient are your transactional BSM processes?
- Digitization -- How successful have you been in digitizing your BSM processes?
- Risk Management -- How effectively are you driving compliance and mitigating third-party risk?
- Spend Optimization - How are you optimizing your spending to get the best rates and savings opportunities?
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