Today's organizations are increasing their focus on financial process automation, and many are moving to automate key Purchase-to-Pay activities like sourcing and procurement.
Indirect goods management software providers are a major leader in this space, as they provide simple process and cost control for requisitioning and purchasing operations. However, the value of these solutions may be limited in industries where indirect spend is less than direct procurement spend, as direct procurement involves a far different set of requirements.
Direct goods procurement is a much more complex and expansive process than indirect procurement. It entails multinational suppliers, lengthy lead times, and heavy reliance on logistics. Direct procurement also requires extensive collaboration - there are numerous parties and activities in each order's lifecycle that procurement officers must track, coordinate, and control.
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