Starting your journey for a new way to procure to pay may seem like a daunting task, BNDL makes it easy for you. Giving you immediate access to a platform and a service that provides you, your team and your business with an ecosystem of vetted vendors, offering you the best products at the best price, and it’s right at your fingertips.
Explore how BNDL can help your team.
Getting the best pricing for the supplies and services that your small business needs on a daily basis is as easy as joining BNDL. Once you have joined, purchasing is simple. Using BNDL to buy your supplies or obtain a quote for services is easy and you will be assured that you are getting the best rate possible for the quality products and services you need.
Learn more about how BNDL can take your purchasing of services and supplies to the next level.
Start your Journey
Identifying your Procurement Needs
Understanding your company’s intricate needs for procurement and how the process currently works is the first step in your journey. Being able to identify the various departments involved in the process and what a solution that would satisfy all departments would look like, will give you the assurances that you are going down the right path, with the right partner.
I have just now identified that we have no P2P Solution in place.
This is an opportunity to make a positive organizational change that will save money, time and improve the profile of your proponent. It is important to review who will be involved in this decision making process and to poll those departments for any current issues that they are experiencing or that they would like to resolve with this solution. Get everyone together to allow each time to identify their needs, raise concerns and ask questions.
I am determining criteria that is needed in our Solution.
Once you have created a list of issues or requirements by department, next determine what solutions should be evaluated. This will be the longest part of your process to identify and onboard a procure to pay system but will save you time in the long run. You can add or remove requirements based on your department’s needs.
We are currently evaluating Suppliers.
Identify the information that is needed by the vendor’s to obtain pricing. Most often this information will reside with your Accounts Payable department. Typically, you will need the number of number of vendors, contracts, monthly invoices and dollar volume and the level of service that is needed. Evaluate and validate the proposal information from each vendor to determine which vendors will provide software demos.
We are implementing a Solution.
Identify the information that is needed by the vendor’s to obtain pricing. Most often this information will be in your Accounts Payable department. Typically, you will need the number of invoices and dollar volume and the level of service that is needed. Evaluate and validate the proposal information from each vendor to determine which vendors will provide software demos.
Needs & Challenges
The needs and challenges vary by company but there are specific issues that every company is facing on a daily basis with the procure to payment (P2P) daily tasks.
Economies of Scale
Creating a group or cluster buying opportunity will bring down the cost of services and supplies for the medium to large organization but most companies don’t have the capability to get the best rates due to their size.
Lack of Staff
Lack of staff creates the inability to clearly define what is needed at all levels of the organization and well defined roadmap of vendors, spending and savings.
Allowing your staff to purchase the needed supplies for just their location or enter into a contract for just their spending can cause rouge spending that leads to higher rates.
Governance of Contracts
While Procurement can create a well-constructed and negotiated contract, often times the monthly invoice does not reflect the rates that were a part of the contract.
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