High Technology | Paramount Technologies

HIGH TECHNOLOGY

The high technology industry produces computers, computer-related products, including printers, communications equipment, and home electronic equipment, as well as a wide range of goods used for both commercial and military purposes. In addition, many electronics products or components are incorporated into other industries’ products, such as cars, toys, and appliances.

The high technology industry moves at light-speed and needs a procurement system to match. Delay in procurement of indirect materials and services can dramatically reduce key employee productivity, retarding growth and dampening morale. Delay in procurement of direct materials and the inability to quickly change procurement based on real-time market data, can hand strategic advantage to more nimble competitors.

How Employee Workforce Automation Can Help

Paramount’s WorkPlace Suite helps technology companies speed procurement and enhance flexibility:

Easy-to-use yet powerful requisitioning capability that can reduce requisition-to-order costs and cycle time and control maverick spending
Ability to streamline the acquisition of all types of goods and services, both the direct procurement of raw materials and production goods, and the indirect procurement of maintenance, repair and operating (MRO) supplies as well as capital goods and services
Powerful, easy RFQ capability whereby requisitions can be sent to multiple vendors with an email notification, vendors can complete quotes online, and all quotes can be reviewed and awarded based on defined criteria
Cancel Vendor Contract capability that enables purchases not yet fulfilled to be easily cancelled