Are you being impacted?
But deal with hundreds or thousands of suppliers and there’s a tipping point where the administrative burden can become overwhelming. It impacts Procurement teams as well as their colleagues in Finance. Even completing the simplest tasks can drain your resources and your suppliers may feel the same way every time they have to deal with you.
So, what’s causing this ‘supplier tax’ on everyone’s time, talents and money?
Add the word ‘tax’ to another word and it becomes toxic, think ‘graduate tax’, ‘bedroom tax’ and even ‘pasty tax’. But is your organisation and those it buys from suffering from an invisible ‘supplier tax’ that is sapping the life out of your business relationships? Just to be clear, we’re not talking about a new levy issued by HMRC. The ‘tax’ in question is more of a resource-devouring phenomenon that can pervade every corner of your supplier eco-system. Are you being impacted? If you run a small coffee bar, you’ll probably deal with a dozen or so suppliers, from the bean wholesalers to the people who provide the free WiFi you offer your customers. Life is relatively simple and there’s time to develop and maintain good relationships with everyone, as well as keeping their contact details up to date and sorting invoices and payments easily. But deal with hundreds or thousands of suppliers and there’s a tipping point where the administrative burden can become overwhelming. It impacts Procurement teams as well as their colleagues in Finance. Even completing the simplest tasks can drain your resources and your suppliers may feel the same way every time they have to deal with you. So, what’s causing this ‘supplier tax’ on everyone’s time, talents and money?
