As featured in the ‘The 10 Most Innovative Procurement Solution Providers’ article published in the September 2017 Insights Success Magazine, Claritum discuss the drive for a New Wave of Easy-to-use Procurement Products…
Procurement of relatively low cost, unpredictable products and services is still highly manual, inefficient, and error prone. Typical procurement solutions focus on strategic procurement within large enterprises, whereas there is a significant demand for easy-to-use tools for mid-market companies to manage this type of expenditure.
Recognizing these inefficiencies of purchasing marketing services across multiple countries, James Samuels and Paul Barker founded Claritum in 2002 to help companies streamline the purchasing of print and marketing services. Today, Claritum’s cloud based spend management platform streamlines the buying and selling of products and services. It helps many of the world’s largest enterprises, leading businesses and fastest-growing service providers to control their complex, frequently ordered expenditure such as marketing & operational print, promotional products, uniforms & apparel, packaging, IT & consumables and related services.
Optimizing Spend Visibility, Control, Cost Savings and process Efficiencies
Claritum automates sourcing, procurement and invoicing in one, easy-to-use, cloud based platform while enabling business users, customers, procurement experts, buyers and suppliers to collaborate globally and in real time. By streamlining sourcing, supplier management, catalog, procurement and invoicing, it enables small and medium businesses and fast growth procurement services to optimize spend visibility, control, cost savings, and process efficiencies. Over 150,000 users in 35 countries rely on Claritum to deliver significant, measurable and sustainable savings.
A Varied Range of Unparalleled Solutions
Amongst its varied range of unparalleled solutions, below are some of the ground-breaking ones:
Sourcing: Its cloud based sourcing capabilities are proven to deliver a transparent and consistent best practice, transactional sourcing process to users; whether it be a novice employee, an experienced buyer or third party agency or outsourced service provider.
Catalog Management: Customers can capture orders, aggregate demand and centrally control local buying from multiple approved suppliers with easy-to-use, highly configurable storefronts.
Invoicing: With Claritum Invoicing, you will always know where you are and what’s pending and what’s outstanding, hence keeping you in complete control of your cash-flow.
User Access and Admin: With its powerful user access and administration tools, you can centrally control local transactions. Its intuitive and easy-to-use application ensures compliance of best practice while maximizing efficiencies and quality of management information.
Supplier Management: Its platform helps supplier managers create and manage Private Supplier Networks from a combination of its current supplier base and by inviting suppliers from the Claritum Network of thousands of pre-approved suppliers.
Procurement: It automates your sales order and purchase order procurement processes while enabling faster and more compliant requisitions, orders, approvals and goods receipting.
Reporting and Analysis: It enables you to get granular line item visibility of every transaction globally and real time. You can also get share management reports, performance dashboards and analytics with customers, suppliers and co-workers.
Web Services API: Claritum’s Web Services API enables you to streamline your entire source-to-settle workflow and integrate with buy-side and supply-side software platforms.
Enabling Users to Access a Fully Managed Purchasing Service
James believes that automation, globalization, ease of use, integration and data are key drivers of procurement technology. As such, Claritum is part of the new wave of easy to use, cloud based procurement products and reflects the demand for business users to be able to self-serve, or get assistance from expert buyers or access a fully-managed purchasing service. Claritum is optimized for cross border trading, therefore enabling centralised visibility and control of every transaction locally, nationally and globally.
Future of Endless Solutions
Considering the ever-growing procurement industry and its future, Claritum is automating the entire source to settle process including demand side integration and supply side fulfilment. It is investing in highly configurable workflows that eliminate the need for manual intervention, deliver the data required for experts to deliver significant and measurable value across the supply chain.
Claritum is also working to automate IoT devices to auto-replenish parts and components, improve service delivery through intelligent service bots (agents), intelligently route transactions directly into fulfilment or manufacturing including 3D printing on demand.