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Project Procurement: A Real-World Guide for Procurement Skills by Ajay Bhargove

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CHAPTER

8

How Finance Views Procurement Savings

Professional buyers have a clear view of their importance within the organization. They know that every single penny saved is not just a savings to the available budgets, but brings manifold benefits to the organization. In this chapter, we will have a look at the benefits of procurement savings from the finance perspective.

8.1 Benefits of Procurement Savings

Around the globe, there are many ongoing debates for capturing the exact procurement savings and their short-term and long-term impacts for the organization.

Even mature organizations compare savings with respect to the budgeted value. Procurement savings have the following impacts on an organization's financials (depicted in Figure ...

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