Procurement automation has opened the door to opportunities not only to reduce costs, but to improve efficiency and to ensure quality consistency. Think of it this way, as the one responsible for your company’s purchasing practices, you have a lot on your plate. It’s one thing to negotiate purchasing contracts with vendors for all your food, medical supplies, office supplies, housekeeping supplies, and other supplies purchases. It’s another to make sure that those of your organization who place the orders actually receive the benefits from all your hard work. This is where Order Guide Management (OGM) comes in. In short, OGM is the ability to control which products your users have access to according to the terms negotiated.
I would like to introduce Rand Johnson as the author of this, our latest blog. With over 33 years in Long Term Care serving in such roles as administrator in facilities ranging in size from 35 beds to 388 beds, consultant, Senior Vice President of a prestigious LTC-focused reimbursement consulting firm, and Marketing Director for Prime Care Technologies, Rand contributes a broad as well as deep perspective to our team of bloggers. In today’s blog, Rand focuses on how automated invoice processing saves time and money. While he addresses LTC in particular, the content can readily apply to any business.
B2B e-Commerce or e-Procurement is here to stay. Vendors and buyers alike who leverage the power of e-Procurement receive numerous benefits including, among others:
In Part 1 of this two-part blog, I shared with you critical procurement savings opportunities which you and your company can employ. I continue in Part 2 with this valuable list. Again, I use much of the content found in the on-line article, Procurement Savings – Ways to Increase Your Profits, because it does such a fine job of highlighting what we promote to all of our Buyer partners. I have somewhat paraphrased the list for this blog.
The impact of the 11.1% cut to Medicare reimbursement on long term care providers across the country has been substantial. With revenues down margins are tight, very tight. To discover ways to reduce waste and get the most from the dollar expended, providers are examining every facet of their operations, including procurement. While labor may represent the bulk of its expenses, a company also needs to review its procurement practices, contract terms, pricing points, and price protection regularly. In this day and age, every penny counts.
Actually, for me, eCommerce Evolution is an exciting concept, because behind the scenes of the implementation of emerging technologies in commerce, a mutually-beneficial relationship is materializing between the Buyer and the Vendor. At Procurement Partners, we view the eCommerce Evolution in two ways: the buyer-vendor relationship and the technologies employed. We strongly believe that both go hand in hand, that each has influenced the other and continues to do so.