Follow our 5 Steps for Procurement Service Providers to Increase Revenues

Published March 2015

Would you like to increase revenues? Is your company growing as quickly as you would like it to? Procurement Service Providers often find that growth can be challenging. Customers often demand quicker, better and cheaper services whilst competition is fierce.

5 steps for PSPs to Increase Revenues Our 5 step plan is designed to help you tackle problems such as:
  • Protecting your margins
  • Adding value
  • Keeping your current clients
  • Attracting new clients
  • Standing out from competitors
Let's get started!
  1. Get a Spend Management Solution

  2. Enable staff to add value

    • Free your staff from manual administrative task and enable them to focus on adding value to your clients.
    • Give your team the power to add value. Utilize transaction level data to quantify the value you deliver.
    • Help your clients succeed. Arm your clients with success metrics to prove savings, efficiencies and service improvements to their line managers.
  3. Manage more of your spend

    • Drive transaction volumes and supply chain effciencies to bring more spend under management.
    • Integrate upstream (buy side) and down stream (supplier side) to automate commodity buying and lock in clients.
    • Extend your offering into more complex categories. Standardize where possible and add services for custom requirements. Add more categories of expenditure.
  4. Focus on New Business

    • Dedicate resources to lead generation & closing deals. Build your reputation through thought leadership.
    • Use transaction level data from your spend management platform as your competitive advantage.
    • Give clients flexibility to self-serve, take assisted buying or a fully managed service on an order-by-order basis.
  5. Share the love

    • Love your data. By showing current & prospective clients that you can provide visibility & control every transaction, globally and in real time, they gain trust.
    • Share the love. By enabling your clients to make more informed decisions, you will align to your client’s success.
    • As a PSP, your spend management platform is the catalyst for increasing revenues.