Real Estate Investment Trust Transforms Procurement with PROACTIS

February 2018
PROACTIS Supplier Management, Sourcing and Contract Management improves procurement controls for Real Estate Investment Trust (REIT)

PROACTIS, a global Spend Control and eProcurement solution provider, has announced that one of Europe’s largest Real Estate Investment Trusts (REITs) is using the PROACTIS Source-to-Contract suite to modernize its procurement processes – managing system-wide spend and strategic supplier relationships using a set of transparent and repeatable business processes to improve controls and gain efficiencies.

The company wanted a solution that could first help its procurement team build and maintain a strong supplier base for competitive advantage by structuring and streamlining the entire supplier lifecycle – from initial identification through adoption, approval, transaction and analysis. A fully functional and highly automated procurement process was required to improve current processes, seek out innovative products or services, and ensure greater controls and compliance across the supply chain.

PROACTIS Supplier Management helps build and maintain a comprehensive supplier directory and manage the supplier lifecycle. Web-based tools support supplier recruiting, qualification, adoption and appraisal, as well as simplify supplier information management and communications. PROACTIS Sourcing helps find and qualify the best suppliers, whilst PROACTIS Contract Management provides visibility of existing contracts, monitors compliance and helps the company recognize when to renew contracts.