As more businesses aim to “do more with less” and “work smarter not harder” I thought it was worth looking at an often overlooked route to cost improvement – standardisation, particularly the standardisation of procurement activities.

For those that have implemented large enterprise systems, standardisation is an approach often taken to minimise the cost of implementation. But how many businesses look at the standardisation and improvement of processes specifically to better manage costs and achieve cost improvement?

There are many B2B (business to business) and P2P (procure to pay) applications available that enable strategic sourcing processes and provide a disciplined approach to procurement. If you haven’t looked at this market recently it is well worth the time investment.

By standardising how your organisation manages its procurement processes you can strategically manage your costs.