Better spend management and improved transparency for reduced risks
The new CEO of 'spend' is the Chief Procurement Officer (CPO), and he/she needs to think end-to-end from consumers to suppliers. Depending upon the industry, 25-60% of a company's total cost is represented by procured costs. Hence, it's a matter of concern for procurement teams to effectively manage their spend throughout source-to-pay and ensure cost containment. Business expansion demands clear visibility of potential savings, ability to evaluate vendors beyond tier-1, efficient handling of invoices, better ways to optimize unmanaged spend and effectively drive compliance.
Powered by automation, advanced analytics and artificial intelligence (AI), Wipro HOLMES™ empowers procurement to unlock new areas of value, while maintaining seamless and efficient downstream transactional activities.