Bryn Mawr College Saves over 22% with Streamlined Procurement
Centralizing purchasing processes for a path to savings
Limited visibility into spending, combined with no centralized management of purchasing processes, created the perfect procurement storm for Bryn Mawr. Invoices weren’t always getting to the purchasing department for prompt payment, negating any hopes for supplier discounts. In extreme cases, suppliers stopped doing business with the school due to nonpayment; it’s hard to pay the bill without an invoice. The school sought out an easy-to-use electronic platform that would allow its procurement and accounts payable staff to manage approvals and payments for all purchases institution-wide. With greater visibility and a standardized approach to purchasing, the college is now taking a more strategic approach to contract negotiations, looking at ways to capitalize on spending patterns and finding ways to further decrease costs.
Read the success story to find out how Bryn Mawr College:
- Achieved average savings of up to 22% on IT, office supplies and lab purchase—in only eight months
- Increased purchase order spending from 5% to 35%
- Provided faculty and staff access to an easy-to-use eCommerce interface, enabling them to quickly order supplies and comparison shop for savings