SYDNEY, June 23, 2015 /PRNewswire/ --
Strategic Procurement Platform Maximises Procurement Effectiveness, Value Creation and Innovation
BravoSolution, the strategic procurement company, has released BravoAdvantage, its next-generation procurement platform that enables organisations to generate more value, influence innovation and reduce risk across the supply chain. Unlike traditional spend management and procure-to-pay solutions, BravoAdvantage's unique approach integrates supplier lifetime value throughout the entire strategic procurement process providing the visibility, insight and transparency needed to power and improve every procurement initiative and decision, from demand to contract.
"Spend Matters has long recognised BravoSolution as a customer-centric provider with substantial size and global reach," said Jason Busch, the managing director at Azul Partners and founder of Spend Matters. "Their recently updated BravoAdvantage solution line positions them well to accelerate from their past as a leading sourcing suite provider into a broader, next generation procurement platform in both the commercial and public sectors."
The BravoSolution platform empowers organisations to advance beyond conventional procurement practices and unlock the true power of procurement. The powerful technology - backed by BravoSolution's experienced consultants and proven methodologies - gives procurement everything needed to drive the growth and profitability of their organisations and create an unrivaled financial advantage over competitors.
"Conventional procurement methodologies don't cut it in today's volatile and extremely competitive market. If an organisation wants to compete at the highest level, it needs to rethink its approach to procurement and focus on delivering measurable business value," said Jim Wetekamp, CEO of BravoSolution. "We've found that top-performing procurement teams can increase savings two to three times to deliver a 30 percent improvement in profitability - which represents a massive competitive advantage. BravoAdvantage makes achieving these types of results possible."
Supplier Value at the Core of the Strategic Procurement Process
BravoAdvantage is the first strategic procurement solution designed to increase the effectiveness and efficiency of the entire strategic procurement process by integrating supplier value at every stage - savings management, spend analysis, sourcing, contract management and supplier relationship management.
New and upgraded functionality in BravoAdvantage includes:
- Savings Management, enabling procurement to report on value creation, more actively manage spend performance and identify and account for gaps between target saving, forecasted savings, realised savings and any deviations.
- Spend Analysis, powering procurement to leverage spend data to proactively identify new sourcing opportunities, better manage compliance and more accurately report on savings.
- Supplier Value Management, helping procurement proactively manage risk, improve compliance and increase visibility into the entire supply base, throughout the entire procurement process.
- Sourcing, streamlining procurement's ability to source suppliers, run simple and complex sourcing events and evaluate goods, works and services in an automated and collaborative fashion to reduce cycle times, increase transparency and achieve faster ROI.
- Sourcing Plus, giving procurement an advanced approach and optimisation platform to source its most strategic, complex categories.
- Contract Lifecycle Management, offering procurement a direct link between contract performance and Supplier Value Management, resulting in more compliance, better reporting and easier approvals.
BravoSolution is trusted by many of the world's largest and most successful companies, and recognised by key industry influencers as one of the top procurement suites available today. To learn more about BravoAdvantage, and why more than 65,000 purchasing executives and 700,000 suppliers globally rely on BravoSolution every day, visit http://www.BravoAdvantage.com. To find out how your organisation can unlock the power of procurement, get a complimentary copy of our latest market report, Procurement of the Future: The Life of a CPO in 2025.
BravoSolution is a leading global strategic procurement solution provider. Our procurement technology platform and practitioner experience help more than 600 companies and 65,000 purchasing professionals in over 70 countries unlock the power of procurement to drive financial performance, develop procurement organisational excellence, manage risk, and influence innovation.
BravoSolution's approach to strategic procurement consistently delivers business outcomes to enable customers to outperform their market. BravoSolution has direct operations in 18 offices located in 12 countries across 4 continents, employing more than 600 procurement experts. To learn more, see http://www.bravosolution.com, read our blog Strategic Sourcing, follow us on Twitter @ BravoSolution and connect with us on LinkedIn.