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    Capital flows are the lifeline of every company.

    The pulse of value creation is generated in three central areas: Source2Pay, Finance and Supply Chain. Managing and controlling the associated activities, documenting expenditure in a traceable manner and automating repetitive, resource-intensive activities as far as possible is essential for business success in the modern business environment. This is the only way to increase the number of cycles without overloading the organization. Digitalized spend management from DIG also offers ideal opportunities for evaluation and analysis - and merges data into a reliable basis for strategic decisions.

    Procurement is becoming an increasingly complex cross-sectional issue.

    On the one hand, new legal requirements are constantly raising the bar for ESG reporting and compliance, while on the other, supply chain disruptions mean that purchasers find themselves condemned to being trouble-ego shooters on permanent duty in the face of simultaneous staff shortages. And this situation will continue to worsen, thanks to climate change and the general geopolitical situation! What's more, in manufacturing companies in particular, procurement must seize the opportunity to generate far-reaching added value and competitive advantages as a sparring partner for development. However, this will hardly be possible with supply chain collaboration based on Excel and PDF. This requires digital spend management that encompasses the aforementioned areas of Source2Pay, Supply Chain and Finance.

    Source2Pay: the first stage of value creation

    Purchasing creates fundamental factors of value creation. In order to do justice to this role, however, the transformation from ordering office to buyingcenter must be completed! A first step in this direction is the introduction of eProcurement. In this way,spending initiated by consumers isoutsourced administratively in order to free up the purchasing department. However, the purchasing department retains control by specifying suppliers, price negotiations and approval processes. This allows significant savings to be achieved through supplier consolidation, agile spend management and the avoidance of maverick buying.

    Buying decisions with TCO awareness

    As indicated, prices alone are only part of the costs: holistic spend management therefore also includes product group-specific cost risks and, for example, compliance costs in the buying decisions in the sense of a total cost of ownership approach. In view of excessive regulations (keyword: CSDDD and Co), this is an absolute necessity! A price-centered approach therefore does not adequately reflect the real costs. This makes continuous supplier and risk management and the integration of obligations at contract level all the more important in this context: this means, for example, the mandatory submission of certificates or supplier declarations such as the Code of Conduct, declarations of origin, information for CBAM, EUDR etc. Here too, digital spend management enables central control of the legal framework conditions for each product group. DIG's contract editor can also be used to specify all other purchasing conditions in clearly structured processes.

    Sourcing as an integral part of spend management

    Sourcing is closely linked to the legal requirements for product groups. Here, Requests for Information (RFI) are used to prequalify potential suppliers and also to define the documents required in the event of cooperation. At the same time, the contractual and, if applicable, technical details for the procurement can be specified so that these are included in the Request for Proposal (RFP). Depending on the specific product area, it is advisable to enter into optimization loops with the participating providers in order to make the best possible use of the spendings in the overall view. Once the product specifications have been determined, the Request for Quotation (RFQ) is issued, in which the requested suppliers submit their quotation. Thanks to the high degree of automation of DIG Sourcing, supplier communication is intensified, which results in noticeable price advantages even in the case of non-negotiated offers, for example. As an integral process in spend management, sourcing optimizes the entire value chain.

    Finance: from invoice to spend analysis

    Automated document processing is a key component of spend management digitization. In particular, invoices, order confirmations and delivery bills are transferred to the automation workflow via various input channels. Whether via EDI or as a PDF or e-invoice, all suppliers will find the right conditions to simplify the exchange of business documents. Thanks to the machine-readable structure of the data, it can be processed automatically - right up to the so-called dark posting, before which it is checked whether the order, delivery bill and invoice match. Manual approvals are only required if the system detects errors, eliminating resource-consuming repetitive tasks. This level of automation can also be changed and the workflow adapted to individual requirements. With the spend analysis module, spendings can be evaluated, displayed and subsequently structured in any way. In the future, DIG Spend Management will also include the areas of travel and expense accounting as well as temporary staff.

    Supply chain: digitally mapping collaboration

    The Supply Chain Collaboration area completes the circle of end-to-end spend management digitization. Various supply chain planning tools are available for streamlined processes and shorter lead times. DIG's solution for transport management enables the central control of outbound transports and makes inbound delivery dates available, for example. Reliable production planning in industry, for example, is based on this data. Digital VMI processes (Vendor Managed Inventory) and the ability to give suppliers access to requirements planning, thereby ensuring the supply of materials, complete the supply chain collaboration.

    Spend management improves company results

    With its end-to-end digitized spend management approach, DIG provides comprehensive solutions for managing, controlling and optimizing expenditure in accordance with all compliance requirements. This effective lever improves resource efficiency and has a significant impact on the company's results!

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    We look forward to the first round!

    Digitization begins with getting to know your individual situation and challenges, for which we will be happy to make an initial proposal for optimization - just contact us. We play by very simple rules: Use our appointment tool for your personal appointment and we will inform you about your digitization options in purchasing in a first meeting without obligation!