It is estimated that the UK could save up to #100bn a year by using e-commerce to reduce purchasing inefficiencies, according to KPMG Consulting.
In order to combat the apparent wastage the company has announced the launch of an e-commerce package.
The solution will integrate purchasing cards, electronic catalogues and back office systems, thus enabling organisations to procure items electronically thereby reducing costs. The solution is the result of a link up with Microsoft, SAP, Visa International, Hewlett Packard and Infobank.
The main wastage is due to the manual processes used at every stage of the purchasing process, from quotation and order approval to fulfilment and payment. KPMG estimates that 80 percent of the average purchasing department’s time is spent acquiring items such as computer hardware and stationery.
The partner responsible for e-commerce at KPMG Consulting, Paul Baker, commented: “KPMG Consulting has developed the e-commerce purchasing solution in response to the continual pressure on large organisations to reduce operating costs. Internet technologies have now matured sufficiently for companies to consider using them for mission critical tasks such as purchasing. And every pound saved through purchasing efficiencies will feed directly through to the bottom line of the company.”
Big Four firm Deloitte has announced its investment in blockchain start-up SETL as well as a partnership with VTC Group
Clients and business advisers can now connect to small businesses through a Facebook Messenger chatbot service, provided by Xero
It has been another glittering night in the accountancy calendar. A range of practices big and small, plus outstanding individuals, have been rewarded for their efforts in the British Accountancy Awards 2016
Making Tax Digital responses to the consultations expected in January 2017