Over the last 12 months, BuyerQuest has seen significant gains in the spend passing through our industry-leading procure-to-pay platform. While many factors, including our continued customer growth, play a part in the increases, it is also clear that businesses who choose BuyerQuest are realizing the value of a B2C-like platform across their Search - Buy - Pay processes.
As we’ve often discussed both on this blog and through our whitepapers, procure-to-pay technology is at a crossroads. Spend under management increases are stalled, and companies are looking for creative ways to drive more on-contract spending. Most P2P solutions lack the ease of use to engage the casual buyer with a simple purchasing process. As a result, that buyer purchases via another, off-contract channel.
B2C Is the Next Evolution
BuyerQuest saw that the B2C space offered the next evolution for procure-to-pay, and it all starts with Search. By providing users an easy, e-commerce like interface to search for and buy products, users are more likely to perform their purchases through the B2C-style BuyerQuest platform vs.purchasing off-contract. While the purchasing experience may mimic a B2C platform, the back-end controls apply advanced workflows and manage PO creation, invoicing and payment to ensure a compliant Search - Buy - Pay process.
A Buyer is a Buyer
Whether the business is in an industry like Quick Service Restaurants, Airlines, Media & Entertainment, Construction, Healthcare, Oil and Gas, Grocery, Logistics, Personal Care, or another industry, buyers want a simple, B2C style purchasing experience - just like what how they buy at home or on their phones. At BuyerQuest we know that industry doesn’t matter as much as the buyer experience. This is why our technology has helped companies across industries drive more spend under management.
Higher User Adoption = More Spend Under Management
We at BuyerQuest are excited to see these increases in spend moving through our platform. With more buyers leveraging our B2C technology in their Search - Buy - Pay process, more procurement organizations are seeing increases in spend under contract, increasing bottom-line savings to their organization.
Learn more about BuyerQuest’s industry-leading platform.