Direct Procurement: JAGGAER and FACTON Partnership
Vienna| Mason, OH. | Potsdam – July 25, 2017 – JAGGAER, provider of the world’s most comprehensive Source to Pay (S2P) suite for indirect and direct spend solutions, and FACTON GmbH, the leading provider in enterprise product costing for the automotive, aerospace, mechanical engineering, high-tech and electronics sectors, are forming a strategic partnership to provide their customers with digital, efficient processes for the entire production process. The integration of product costing calculations and should cost models into the procurement platform offers huge advantages, especially for companies from the manufacturing sector.
Nearly 70% of all production costs are already established during the early phases of product development, and once production has started, it is difficult to change them. This is why it is especially important for procurement, designers and cost analysts to work together closely as soon as a new idea is introduced so that new products can be planned and produced at minimum cost. Companies in integrated, global supply chains in particular can only achieve long-term competitive advantages and expand market shares by following structured and standardized procedures. To reach that goal, companies first need integrated processes that are used in all departments and information that is centrally accessible. This is where the partnership between JAGGAER and FACTON comes in. Previously, if companies using the FACTON solution for product costing wanted to analyze the results in the JAGGAER procurement platform, they had to either extract the data from the calculation software and add it to the bid comparisons manually, or they simply were unable to use the information for bid comparisons because the data transfer process took too long. The partner solution now offers companies that used Excel for their costing calculations, and then shared the information manually with procurement, the option to use a completely integrated digital process.
Efficiency and Savings in the Production Process
By integrating both systems, data can now be transferred automatically. This eliminates the time-consuming and opaque manual process, and reduces the chance of errors. The costs added to the FACTON software by cost analysts can then be directly compared to supplier offers in JAGGAER, facilitating the structured communication of target values and specifications with procurement. Purchasers can see internal calculations (should costing) and additional offers in the offer comparison, which makes it easier to identify cost drivers and weak points in the supplier’s offers. This accelerates processes, offers an improved basis for decisions in the award process, and makes it easier to control the target prices of purchased parts. Potential savings can also be identified easily, starting from when the product idea is first introduced. In addition to drastically reducing process costs, procurement can also secure better material prices and sustainably increase efficiency in the production process.
In the second phase of the partnership, complex bills of material (BOM) will also be transferred from FACTON so that procurement can easily collect up-to-date prices for the entire BOM and add them to their calculations efficiently. The costs of complex products can thus be determined at an early stage and at any other point in their lifecycle.
Strategic Partnership with Great Potential
“The point of overlap between procurement and should costing carries huge potential,” says Thomas Dieringer, Managing Director of JAGGAER EMEA. “Many of our customers are already working with the FACTON suite. Big companies often have hundreds of complex calculations to run per month that are relevant for procurement. If these no longer have to be edited manually and collected multiple times, this instantly reduces process costs.”
Alexander M. Swoboda, CEO of Facton GmbH, sees the long-term potential of the partnership: “Production structures are getting more and more complex. In order to stay competitive companies must closely work together with their partners. This cooperation is at the heart of Enterprise Product Costing. We are delighted that together with JAGGAER we can open new and innovative opportunities for our clients in this field.”
About FACTON: Leading in Enterprise Product Costing
The FACTON EPC Suite is the leading Enterprise Product Costing (EPC) solution for the automotive, aerospace, mechanical engineering and electronics industries. Its specific solutions offer robust answers to the requirements of executive management and individual departments within the enterprise. FACTON EPC enables standardized, enterprise-wide costing independent of location and department for maximum product cost transparency throughout every phase of the product life cycle. Businesses accelerate their costing, achieve pinpoint cost accuracy and secure their profitability.
FACTON was founded in 1998 and has locations in Potsdam, Dresden, Stuttgart and Detroit. Hasso Plattner, founder and chairman of the supervisory board of SAP AG, has supported this innovative company since 2006. The international portfolio of customers includes Ford Motor Company, Henniges Automotive, DURA Automotive Systems, Airbus, Mahle Behr, MANN+HUMMEL, Porsche and other renowned manufacturers. | www.facton.com
About JAGGAER: Global Indirect and Direct Spend Management Solutions
JAGGAER offers the only comprehensive and complete spend solution suites enabling commerce between any businesses, anywhere. We pioneered spend solutions over two decades ago and have continued to lead the innovation curve by listening to customers and analyzing the market. Our solutions suites are trusted by the world's largest higher education, manufacturing, pharmaceutical, life sciences, automotive, engineering, construction equipment, serial production and medical technology companies. Our indirect and direct spend solutions suites collectively form a global network processing billions of dollars in annual spend between 900+ customers and 2.5 million suppliers. JAGGAER’s SaaS based, Source to Pay (S2P) solutions enable an efficient relationship between buyers and suppliers, covering the entire spectrum of needs, from spend analysis to sourcing, through contract and supplier relationship management. Additionally, JAGGAER holds 38 patents, more than any other spend management company, and acquired POOL4TOOL in 2017. Learn how our solutions can power your organization. www.JAGGAER.com | www.pool4tool.com
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Direct Procurement: JAGGAER and FACTON Partnership here
News-ID: 641157 • Views: 687
More Releases from POOL4TOOL AG
„Alexa, ask POOL4TOOL …”: Next Level Amazon Integration
POOL4TOOL Pushes Its Digital Procurement Strategy Forward and Is the First Solution Provider to Integrate Digital Voice Control into Its Procurement Application Vienna | Munich | Belgrade | Detroit |Singapore | Dubai, May 22, 2017 –POOL4TOOL, the digital procurement specialist, has integrated Alexa and Alexa-compatible devices into its application, making it the first software provider to simplify routine tasks in Procurement with the help of voice control and Amazon’s audio device.
Savings in Purchasing Are More Than Doubled Thanks to Bundling
POOL4TOOL Customers Confirm Added Value from Digital Procurement Processes Vienna | Munich | Belgrade | Detroit | Dubai | Singapore, May 9th, 2017 – POOL4TOOL, the leading software specialist in digital procurement, conducted their annual customer satisfaction survey and received positive feedback. By digitizing their procurement processes, customers were able to significantly reduce their process and material costs. Customers are relying on the intelligent Procurement platform more and more to connect
eProcurement: Digital Amazon Business Integration with POOL4TOOL
Customers get access to millions on items on the Amazon platform Vienna | Munich | Detroit | Singapore | Dubai, 25. April 2017 - POOL4TOOL, the international market leader in Direct Procurement, is offering customers of its intelligent procurement platform even more value. With the new Amazon Business integration, companies can now access millions of items on the Amazon platform and integrate them into their Procure-to-Pay processes. Customers benefit from the
Vision Excellence Award Goes to Rolls-Royce Power Systems
Global Price Management Wins Vienna | Friedrichshafen, April 05, 2017 – MTU Friedrichshafen, the core business of Rolls-Royce Power Systems, has set the course for global transparency in Purchasing with a digital purchasing platform. The innovative concept that harmonizes price and supplier data throughout the company has been selected by POOL4TOOL as the winner of the Vision Excellence Award, which is awarded annually to the most innovative client project. The award
More Releases for JAGGAER
Spend Analytics Market 2021 - 2025: SAP, Jaggaer, Genpact, SAS, IBM Corporation, …
The Global Spend Analytics Market Research Report Forecast 2020 - 2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). Further, the report also takes into account the impact of the novel COVID-19 pandemic on the Spend Analytics market and offers a clear assessment of the projected market fluctuations
What's driving the Spend Analytics Software Market Growth? Prominent Players GEP …
The spend analytics software market is anticipated to grow in the forecast period owing to the growing demand for market intelligence, predictive analytics among enterprises for better operational efficiency. However, slow migration from legacy systems to advanced systems could affect the growth of the market during the forecast period of 2019 to 2027. On the other hand, the increasing demand for mobile applications among customers and growing demand for cloud
Spend Analytics Market Astonishing Growth| Jaggaer, SAP SE, Oracle, Bravosolutio …
A latest survey on Spend Analytics - Global Market is conducted covering various organizations of the industry from different geographies to come up with 100+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition is facing along with gap analysis and new opportunity available and may trend in Spend Analytics - market. The report bridges the historical
Global Spend Analytics Market 2017: Coupa Software, Zycus, Proactis, Jaggaer, Iv …
The research Report titled Global Spend Analytics market is an in-depth and a professional document that provides a comprehensive overview and depth perception of the key regional market standing of the Spend Analytics trade on an global level that especially focuses on the core regions such as North & South America, Europe, Africa, South & Middle East Asia and Australia and also the key countries like (USA, Canada, UK, France,
Heraeus Implements JAGGAER eProcurement Solution
VIENNA, AUSTRIA – September 07, 2017 – JAGGAER, producers of the world's most comprehensive Source to Pay (S2P) solutions suite, today announced that Heraeus, a leading international technology group based out of Hanau, Germany, has implemented JAGGAER’s eProcurement software solution to standardize and digitize its procurement process. “In addition to the value we gain in updating our procurement platform using JAGGAER’s comprehensive procurement software, we plan for future expansion of our
JAGGAER to Conduct Digital Procurement Technology Survey to Measure Internationa …
VIENNA, AUSTRIA – August 23, 2017 – JAGGAER, producers of the world's most comprehensive Source to Pay (S2P) solutions suite, today announces the launch of their international, online self-assessment survey, “Digital Procurement: Just Hype or the New Standard?” Procurement professionals from around the world are encouraged to participate in answering questions regarding their current knowledge and implementation of new digital procurement technology. JAGGAER will be collecting survey responses through September