Streamline your Mutual’s purchasing process with Mutual Marketplace’s Procure-to-Pay (P2P) services. As a separate offering from our Source-to-Pay (S2P) procurement solutions, it focuses on the purchasing segment, which often begins with product requisition and ends with settling account payables.
A Necessity for Increasing Operational Savings
Mutual Marketplace’s procurement services help credit unions and mutual banks streamline purchasing operations and adhere to internal compliance procedures. Both are important to financial cooperatives: the former reduces the work hours consumed by processing orders, and the latter ensures purchase costs are within budget limits.
If your institution accomplishes both, you may be able to increase your operational savings — a principal objective of any cooperative financial institution and a goal we share at Mutual Marketplace.
With higher operational savings, you can increase your reserves and offer affordable rates, more financial products and better services to your members.
Streamline Your Procurement Process
We offer flexible and agile P2P solutions that can improve your purchase order procedures and policies. Mutual Marketplace can help you achieve the following:
- Digitise your buying process – Simplify the work for your procurement team and enable them to dedicate more time finding savings opportunities.
- Collect data which you can use for spend analysis – Keep all activities on record, preserve your institution’s transparency and obtain market data which you can use to your advantage.
- Maintain compliance across the board – Eliminate instances of purchases done without due consent from relevant signatories and internal departments.
As a non-profit institution, you’ll want to keep operational costs at a minimum and cut unnecessary expenses. A streamlined procurement process helps you achieve both.
Develop a Cost-Effective Procurement Strategy
Our solutions empower you to make smart decisions about your procurement cycle. With our P2P system, you gain better visibility and obtain data for spend analysis, category management and other beneficial purposes.
Mutual Marketplace provides spend insights and benchmarks key metrics to help you determine which spend categories can drive savings. Not only do we make buying easier, but we also make it an opportunity to enhance your procurement strategy.
Allow us to demonstrate how our P2P solutions can improve your purchasing cycle and increase operational savings. Get in touch with Mutual Marketplace today.