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Procurement teams are under increasing pressure to find new methods for optimizing operations and enhancing financial performance. Inefficiency is one of the biggest difficulties plaguing procurement processes, but this can be addressed by managing spending through e-procurement tools. Digital tools and platforms can help procurement professionals improve cost-saving capabilities and enhance efficiency. 

Here, I explore the importance of financial efficiency in procurement, the most significant challenges associated with manual cost efficiency, and how these challenges can be mitigated with e-procurement software.

Jack Macfarlane

Founder and CEO of DeepStream Technologies.

The importance of financial efficiency

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