Sourcing helps procurement teams evaluate and engage high-value suppliers, acquire high quality goods and services at competitive prices, and build strategic contracts with suppliers based off engagements. The sourcing process can be used in procuring all types of goods and services, but PayStream has found that not all organizations understand the real value in automating their sourcing process with electronic sourcing (eSourcing) technology. Sometimes, organizations that do not fit the mold of companies that would traditionally need sourcing teams and software tools (e.g., those with high direct spend, or supply chain reliance) don’t feel they would benefit from a sourcing solution.
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