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Proactis Holdings Plc

How companies overspend millions on procurement

If a company doesn’t know what it already has, it’s easy to buy the same thing again — and again, and again.

Overspending is a common phenomenon for big companies.

Unless everyone with buying power is perfectly in line, companies might buy too much, or buy two versions of the same thing — from desks to coffee to software.

But strategic procurement can be fiendishly complex, especially when essential information is trapped in silos across a business, on spreadsheets and in paper records.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.