The Need for Speed
Faster. Is there any word that better describes the era in which we do business? For as any CEO can tell you, their companies are now required to think, react and move far faster than ever before. To the point of where firms who cannot move fast quickly become targets.

The Hidden Costs
To keep their businesses operating at top speed, firms have turned to total automation. Unfortunately, while almost everything from finance to supply chain management to enterprise resource planning has been fully automated, one of businesses' most central functions their procurement systems have not. In fact, it is estimated that 95% of all Fortune 500 firms still operate with some form of paper-based purchasing system.

It is a situation that has further aggravated one of businesses' most costly yet least known problem areas: the sourcing of the thousands of infrequently needed but difficult to locate items needed to run their operations. Although such items account for only 30% of purchasing budgets, they make up more than 70% of all transactions and consume up to 80% of purchasing resources. Worse yet, any efforts to create an all-encompassing procurement system would prove to be prohibitively expensive, if not altogether impossible.

The New Solution
Fortunately, firms now have access to a single, reliable and cost-effective solution. In fact, the FASTXchange system was specifically built to address just such issues.

FASTXchange helps eliminate the labor-intensive burden of sourcing infrequently needed and hard to find products by offering web-based access to more than 30,000 vendors worldwide. Easy to integrate and use, the system has already established a proven track record of reducing the costs of goods and services by up to 10%, improving fulfillment cycles by as much as 70% and, in some cases, reducing purchasing cycles by as much as 90%.

In addition by eliminating such labor-intensive tasks, FASTXchange frees purchasing departments to focus on more strategic missions.

Help your firm stay fast, lean and profitable. Contact us to view an online demo of the FASTXchange solution.