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What Are Global Procurement Services?

Global Procurement Services (GPS), short for Global Procurement Solutions, is a new branch of the business process outsourcing industry. GPS is an extension of e-Procurement solutions that aim to provide more than just saving money on purchases; GPS seeks to make every stage in the procurement process more efficient and transparent, from sourcing through to supplier qualification, order taking, and monitoring.

This focus on efficiency can reduce costs by around 20% across all areas of the business, including purchasing, supplies chain management, and marketing. This ranks it among some of the most powerful methods available to businesses today for improving profitability while reducing risk.

What Are the Benefits of GPS? The benefits of upgrading an existing e-Procurement solution are clear. The addition of GPS gives businesses not only the best possible price but also a level of oversight on suppliers previously unseen. Full visibility means that companies can monitor their spending more easily and make changes accordingly to save money.

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