Increasing globalization and trade has opened up the world for sourcing the best products at the best price. Global procurement comes, however, with significant added complexity: multiple layers of approvals and complex work flows have resulted in a tangle of processes and procedures. This has often led to problems in communication, a lack of transparency and the use of less than optimal business processes and having to deal with complex bureaucracy.
To help solve these issues providers have arisen that apply the ‘as a service’ concept to the procurement function. Global procurement services companies streamline the process using cloud-based technologies and processes. They simplify the issues of dealing with multiple suppliers in multiple countries by building relationships and expertise with each while offering their users a simple and consistent procurement process that is based on best practices and uses technology to automate the overall process.
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