The transformative benefits of Unit4 Source-to-Contract by Scanmarket
Digital transformation is becoming a key priority for many procurement departments as the capabilities of digital procurement platforms, and the data management they provide, help teams analyze their data and form the necessary strategies to sustain the growth of the entire enterprise.
In this blog, we will cover the proven benefits of the Unit4 Source-To-Contract solution and how Cloud-enabled ERP can transform procurement into a strategic source of value for an organization.
The current market for procurement digital transformation
A recent PwC study found that 92% of organizations now have a Source-To-Contract digital solution, with 71% being classed as small to medium-sized enterprises.
For the organizations digitally transforming, the main drivers of change are efficiency gains (70%), process transparency, traceability and fairness (40%), and procurement performance (39%).
Unit4 Source-to-Contract’s proven benefits
ERP and requisite Source-to-Contract solutions are enabling procurement departments to leverage data to optimize performance, productivity, and transparency across supply chain operations – here are some of the clear benefits we see in our customers:
Compliance
Sustainability remains a growing priority across enterprises, but much of this attention is turning to procurement teams. A recent report found that over 70% of an organization’s carbon emissions come from its supply chain, called Scope 3 Emissions.
With ESG reporting compliance and sustainability initiatives only set to increase their pressure, procurement needs digital support in reporting Scope 3 Emissions.
Compliance isn’t just about sustainability, procurement also must work with finance teams to ensure they remain compliant under large changes to lease accounting under IFRS 16, as well as leveraging integrated data for other reporting compliance measures.
Unit4’s Source-to-Contract Carbon Accounting reporter is designed to extend the visibility of your supply chain beyond the bottom line and can help you reduce carbon emissions by 50%.
Leverage data to manage costs
High supply chain emissions highlight the visibility of procurement data can be leveraged to reduce costs – PwC finds that 65% of procurement departments name cost control as their top priority.
With Unit4 Spend Analytics, a module available in our Source-to-Contract solution, data is integrated into the Cloud providing unrivalled of data across the enterprise and providing context to procurement spending.
With this visibility, procurement teams can analyze historical, and current spend to form agile strategies that reduce maverick spending and help you accurately forecast future spend.
Data security
Data security is a large concern for all organizations, especially those with legacy systems, and of specific concern to procurement teams is ISO 27001 certification.
Unit4 ERP data is held in the Cloud meaning that much of an organization’s data is secured by the Cloud provider’s cybersecurity experts, providing internal IT teams with more time for other activities.
By partnering with a vendor like Unit4 that has this certification, procurement teams can be sure their ERP vendor is dedicated to protecting and continuously maintaining the procurement data that will flow through their digital solution.
Productivity
eRFx is a key tool that can revolutionize productivity in sourcing processes. The manual tasks associated with sourcing information from various suppliers to investigate and compare can be arduous and lack data to optimize the process.
Unit4’s eRFx solution cuts cycle times by up to 50%, doubles cost savings compared to low or no tool usage, and halves workloads with templated processes – allowing you to run up to 29% more sourcing events per year.
eRFx is demonstrative of the wider automation capabilities in Unit4 ERP – by automating other manual tasks like administrative tasks, reporting, and documentation checks, teams can common data entry errors and repurpose time saved for strategic analysis.
Simple implementation
Time to value is a large consideration for those digitally transforming, with many organizations prioritizing high adoption rates to ensure operations aren’t affected by the transformation process.
IDC notes, when reviewing Unit4 Source-to-contract, “Client references cited implementation processes that were largely without major issues and were conducted in a relatively short time frame. Platforms that are quick to implement provide superior time-to-value attainment and promote increased user satisfaction.”
How Unit4 Source-to-Contract can transform your procurement operations
Unit4 Source-to-Contract by Scanmarket is the ideal solution for small to mid-sized organizations look to transform the procurement function with digital Cloud-first capabilities.
In IDC’s MarketScape vendor assessment they named Unit4 as a Major Player for Procurement and Source to Contract offerings, and as one of the few “full suite” providers in the market.
We’re proud that our customer reflects the proven capabilities of our platform:
- Boliden could execute 427 eRFx projects within the first six months, thanks to an impressive 100% user adoption rate
- DFDS could leverage data in eAuctions to deliver process transparency, and reduce their final price due to increased supplier competition
- Family Entertainment Group praised the Source-to-Contract platform for its “Ease of use, efficiency, speed of implementation, depth of functionality, and support”
To learn how Unit4 Source-to-Contract can help you, visit our dedicated product page, read more customer success stories, get the full IDC MarketScape to see how Unit4 compares to other key vendors, or talk to sales, today!
