The business guru Peter Drucker once said that you should focus on what you do best, and outsource the rest. It’s sound advice, especially if you want to gain a competitive advantage by optimising business processes that fall outside of your area of expertise.
For many organisations procurement falls under that umbrella, which is to their detriment. Procurement is at the heart of modern business strategy. It’s a cornerstone for ESG, for managing costs and building value, and for embedding much needed resilience. Building the processes to optimise that takes time and resource, and above all expertise.
To that end, an increasing number of organisations are outsourcing all or part of their procurement processes. So how does this work? Many organisations choose to go down the traditional SaaS model when deploying a procurement solution such as SAP Ariba.
But for organisations that are constrained by resource or budget, that isn’t always the best or most cost-effective route – nor is it viable in the absence of a large procurement team or IT support. Using a BPaaS model – such as excelerated Procurement BPaaS – can bypass those problems and allow organisations to leverage digital tools and industry-leading expertise simultaneously.
These solutions provide complete outsourced procurement process or functions as a service. And instead of simply providing software applications, they work in partnership with your organisation to deliver the end-to-end processes and workflows.
So, you not only have access to the software but also to the necessary resources, infrastructure, and expertise and support to execute a fully optimised procurement process. Buy why does that matter? As we’ve discussed, procurement is the cornerstone of modern business – as such it needs to be optimised for you to remain competitive.
BPaaS guarantees this because industry experts will manage your procurement processes for you, ensuring that best practices are delivered as standard. They’ll also maintain the infrastructure and software at the same time, which isn’t something you get with SaaS platforms.
Similarly, for businesses that are growing or whose output fluctuates, BPaaS is a natural fit because it allows companies to adjust resources based on their changing needs. If, for example, there is a sudden surge in workload or a requirement for specialised skills, companies can leverage the BPaaS model to quickly scale up or downsize the outsourced processes accordingly.
This flexibility ensures that skill gaps can be filled quickly and without the need for extensive hiring or training, and the same applies for the technology too. BPaaS providers typically invest in advanced technologies and infrastructure to deliver efficient and optimized business processes.
By leveraging these technologies, companies can gain access to cutting-edge tools, software, and automation solutions that may be costly or time-consuming to develop in-house. This technological support can bridge skill gaps by enabling employees to leverage state-of-the-art tools and technologies, again without extensive training.
BPaaS providers can help companies fill knowledge and skill gaps in several ways. They can bring fresh ideas, best practices, and innovative approaches to business processes, while at the same time allowing organisations to focus on their core business functions.
Explore how BPaaS technology can transform your Source-to-Pay processes with our excelerated Procurement Business Process as a Service solution and book a demo with us here: https://www.excelerateds2p.com/excelerated-procurement/