Writing for London's City A.M. business newspaper, investment guru and First Tuesday co-founder, Julie Meyer has highlighted the pivotal role that electronic procurement will play in helping organisations to reduce costs during tough market conditions. And she singles out EGS as a company ideally placed to play a big part.
Likening 2009 to the movie 'The Untouchables', ("...if they bring a knife, we bring a gun...") Meyer suggests that spend management tools from EGS could represent the 'big guns' that companies need to succeed in the year ahead.
"The winners of 2009 will be those who bring a gun to the year, not relying on what worked last year, but realising that innovation not only builds revenue but also strips out costs in organisations," writes Meyer in her Exper t View column for the newspaper, which is read by more than 350,000 business professionals.
EGS is "revolutionising spend management", asserts Meyer, who has a formidable track record of being able to identify smaller, fast-growing companies with vast potential, such as Skype, Lastminute.com and SpinVox.
Meyer, who is also CEO of Ariadne Capital, backs up her assertions by pointing to the attention that e-procurement is receiving from some of the “cleverest dealmakers” such as Michael Jackson, founder of Elderstreet and former Chairman of Sage.
"Eliminating inefficient and costly paper procurement and invoicing systems will be a by-product of this recession. Finance directors will rejoice, and cost savings will fuel a discipline and cash flow that can drive revenue," adds Meyer.
Peter Whent, Chief Executive of EGS comments: "Julie Meyer has hit the nail on the head. The market downturn, where sales growth is hard to come by, has caused companies to look closely at how they can save money. As we have pr oven with our customers, automating the entire process of buying goods and processing invoices can cut out huge layers of cost. This is not a slow build - EGS can deliver cost savings very quickly."
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About EGS
EGS provides solutions to manage and control corporate spending by automating and streamlining the entire purchase-to-pay lifecycle. Our Spend Management solutions give you control, save you money and equip your executive team with the best information to make the right decisions. More than 40,000 users across 150 organisations in the public and commercial sectors employ EGS solutions and save millions of pounds. This year over one million transactions, worth £1 billion of corporate purchasing, will be completed using EGS.
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