The business world is changing faster than ever before. One area of rapid change is procurement, where an increase in digital innovation and a lack of talent are driving the need for new procurement models. Companies wanting to be at the forefront of this inevitable change are hyper-focused on reducing their spending, increasing their cash flow, and ensuring they’ve got the right people in place to successfully manage it. They know that without the ideal procurement model in place, they risk losing money, losing business to their competitors, and are missing opportunities to increase their bottom line. While it’s second nature to focus on sales, the startling fact is that more than 70% of the average company’s expenditures go towards purchasing the products and services that support those sales. Did you know that : • A total purchasing cost reduction of 5 % is equivalent to a sales increase of 20 % in terms of profit impact? • Best-in-class processes supported by appropriate technologies, can reduce the number of FTEs required to achieve the same volume of P2P activities by 50 % ? • A good supplier management practice optimizes the knowledge transfer to the organization, which can result in a 30 % reduction in the time to market? Our mission at MHY Consult is to help our clients optimize their procurement model and maximize their business success. enabling them to: • Get a 360° view of where every penny of that 70% of their budget is going. • Put the proper analytics in place to ensure that their spend is acutely optimized across the entire organization in terms of product or service cost, quality, and speed to market. • Find and develop the best talent on board to drive this effort. • Design the optimal organization and system to manage efficiently their S2P activities. • Identify missing opportunities to find even more savings and realize greater profits.