Reduce total cost of ownership (TCO) of invoices
Pay one-time suppliers by credit card, avoiding the hassle of lengthy and costly supplier onboarding and purchase order creation.
Leverage the future of indirect procurement with Billhop
Discover a groundbreaking solution tailored for process-heavy industries. Streamline your payment processes, reduce costs, and elevate your indirect procurement with Billhop.
Challenges in navigating indirect procurement
Managing indirect procurement is challenging due to its diverse transactions, causing administrative overload. Large enterprises operating globally face difficulties in obtaining a complete spending overview and establishing standardised procedures for efficient spend management. The time and resources dedicated to generating purchase orders for each step of the indirect procurement process underscore the need for a shift in the operating model.
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Discover how to efficiency meet your KPIs by unlocking cost-saving opportunities with corporate cards.
Key insights from this white paper
- Reduce the total cost of ownership (TCO) of invoice payments by paying one-time suppliers with cards, eliminating the need for supplier onboarding.
- In depth look into existing indirect procurement solutions and their drawbacks.
- Exclusive case studies and real-world insights from pharmaceutical and energy industries.
- Transform one-time purchases with a card-based operating model, bypassing ERP complexities.
What is indirect procurement and why does it matter?
Indirect procurement, also known as tail spend or c-class spend, constitutes approximately 20% of a corporation's total spending, involving 80% of its supplier base. This category often includes numerous suppliers with high volume but low spend. These are typically purchases made outside of contracts or managed with petty cash. Research indicates that setting up a single supplier on a corporation's ERP system for payment can take over €1000 and up to 6 months. The challenge intensifies because a significant portion of indirect procurement involves one-time purchases. Consequently, the cost of processing a single invoice can surpass the value of the invoice itself. This inefficiency results in corporations spending hundreds of thousands or even millions of euros unnecessarily. Our solution tackles this problem head-on, turning what was once a financial drain into a substantial opportunity for savings.
Benefits of Billhop's indirect procurement solution
Enhancing payment processes for seamless card transactions.
Seamless integration existing controls
Billhop's platform seamlessly integrates with key governance features and procurement controls. This includes user-friendly approval workflows, secure 2FA and SSO.
Digital approval workflows
Maintain control while enhancing collaboration with Billhop's approval workflow. Each transaction can be checked before funds are released to suppliers.
International payments in 13 currencies
Apart from Billhop's standard percentage transaction fee, corporations incur no extra charges for international payments.
Ensure secure payments
As a SOC 2 Type II compliant platform, Billhop conducts comprehensive Know Your Customer (KYC) checks and sanction screenings for every transaction.