Procurement is one of the less glamorous, yet very important, function within any business. It does not get as much attention as sales and marketing function, but it contributes equal value to the business. True, it does not generate revenue, but the savings you can achieve using the right procurement approach drops straight to the bottom line and substantially improves profit. This is why businesses that understand the value contribution of procurement pay great attention to deploying proper processes, personnel and technology to get the most out of it.