thinkgroup Industry Solutions

A common issue faced by organisations across industries are rising costs due to lack of systems or existing non-compliant systems, workflows and processes. These costs and the need to differentiate themselves from their competitors have forced organisations to look inwards. In doing so, their industry legacy systems, at times, have been forced to adopt and the resultant workflows and processes have been the forefront of this issue.

As a result, organisations are looking for alternative systems and workflows to resolve these incumbent problems. The thinkgroup Industry solution can be a standalone solution or a tailor-made solution to enhance existing infrastructure. This in turn will meet the immediate and future procurement based needs of the industry and / or the organisation within these industries.

The thinkgroup industry solution is flexible and can be adopted by different industries and / or organisations with varying technological capabilities. As part of the thinkgroup industry solution, industries and organisations are able to access the unique cataloging, transactional, integration and compliance features among others. The solution caters to many industries including:

• Insurance
• Health
• Education
• Waste Management
• Facilities Management
• Travel
• Advertising

The thinkgroup Point of Differentiation

To enable effective management of the process we believe the catalog is the single most important component as it is the central repository of information that ensures compliance and accuracy of any transaction at every step of the process.

 
thinkgroup eCatalog Solution

thinkgroup's cataloging technology is the key point of differentiation when compared to other solutions in the market today, because the following key benefit it provides:

Data Compliance – we believe that as the saying goes “rubbish in, rubbish out”, we manage exceptions before they become part of the catalogue and ensure supplier contract compliance on behalf of our customers.

Data Enrichment –better data quality, means better decisions are able to be made by the buyers. This includes Product Images, which we source using our unique tool Paparazzi.

Data Integration – the more suppliers you can integrate, the more likely you are able to reduce your Total Cost of Procurement (TCoP) with that organisation. Furthermore we can easily integrate data from Travel and Entertainment (T&E) or Purchasing Card (P-Card) suppliers such as AMEX, VISA or MasterCard.

Research and specific cost savings

What does the research¹ say?

• Each new dollar of spend brought under management can yield 5% to 20% in cost savings.
• Online supplier contract management and eradication of purchase price variance can reduce prices by 7.3% for spend brought under contract.
• E-procurement solutions  can reduce off contract (maverick spend) by up to 64%
• Electronic requisitioning processes can result in purchase orders being processed up to 66% faster than manual processes.
• Introduction of electronic accounts payable reconciliation and invoice processing can be delivered to 5 fives more efficiently than those which are paper based.

¹Aberdeen (Best Practices in E-Procurement, 2005 & Strategic Sourcing in the Mid-Market Benchmark, 2005)

If you'd like more information about the thinkgroup Industry solution please call thinkgroup on 1300 36 99 93 or email us at: sales@thinkgroup.com.au