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All posts for Procurement

31 Jul 2023

Procurement Market Intelligence – What is it and Why is it Important?

Procurement market intelligence is an increasingly vital component of corporate purchasing, and today’s companies must invest in this area to promote overall success.

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21 Jul 2023

Optimizing your Procurement Process Cycle

Companies who focus on optimizing their procurement process cycle begin to experience more cost savings, make better purchasing decisions, have more visibility over the process and are able to exercise greater compliance, amongst other things.

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09 May 2023

How to Reduce Costs with Procurement Spend Analysis

Economic uncertainty continues to generate cost consciousness globally, with few signs of abating. CFOs are pressuring procurement teams to step up.

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17 Feb 2023

Vendor Selection Process: The Key Questions to Ask

Selecting first-rate suppliers and weeding out low-performers is key to reaching your supplier relationship and compliance management goals. Here are some important questions that you should be asking any potential suppliers during the selection process.

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04 Aug 2022

The Three Pillars of Procurement Transformation

Procurement teams are looking to ensure that their people, processes, and technologies are best placed to deliver on critical procurement trends that will define 2022 and beyond, and not fall behind what is considered best practice within the industry.

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29 Jul 2022

Detecting and Preventing Invoice Fraud in your Organization

All organizations, regardless of size are susceptible to invoice fraud. Significant increases in the number of people working remotely has lead to reduced visibility and control over AP processes and subsequent increases in fraudulent activity.

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22 Jul 2022

Cash Flow Management: How Your Procure-to-Pay Process Can Help

Cash flow management should be treated as a major priority by organizations of all sizes, given how accurate an indicator it can be of a business’ long-term financial health.

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14 Jul 2022

3 Key Areas for Digital Transformation in Procurement

Established companies must adopt digital transformation strategies to remain viable in the markets that they serve. However, despite the use of e-Procurement systems for the last 15 years, many aspects of procurement remain manual, and prone to human error.

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10 Jun 2022

4 Ways to Improve Your Indirect Spend Management

In order to make sure your procurement department is making the best choices possible, it is important to understand the nuances related to indirect spend management compared with direct spend management.

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06 Apr 2022

Four Steps to Bring Your Procurement Process into the 21st Century

Best in class procurement teams have left behind manual, time-consuming processes. Here are four steps to digitize your procurement process.

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15 Mar 2022

5 Ways to Optimize your Supply Chain

Supply chains can be complex and difficult to manage, particularly when several suppliers and products/services are involved. Organizations should prioritize supply chain optimization in order to achieve efficient product/material flow and financial flow.

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11 Mar 2022

The Top Procurement Blogs on the Web

We have curated a list of six blogs for procurement leaders and professionals to explore and develop the skillset required to thrive in the future.

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04 Mar 2022

6 Steps to Achieving a Successful Career in Procurement

A career in procurement has the potential to be a long and rewarding one if approached in a proactive way. With procurement now seen as a major contributor to company growth, it’s no longer simply a bridge to somewhere else.

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18 Feb 2022

3 Procurement Actions for Cash Flow Management During a Period of Crisis

Over the last few months, many organizations have seen a major disruption to their supply chain which has seen a need to focus on cash flow in order to mitigate damages to the business.

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09 Apr 2021

6 Instant Benefits of Automating your Procurement Process

Making procurement more efficient was about steady progress over a number of years. Covid and widespread supply-chain interruption changed all that. Now, automating supply processes as rapidly as possible has forced itself to the top of corporate agendas.

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05 Mar 2021

The Importance of Strategic Procurement for your Organization

Setting the appropriate procurement strategy is the first step on the road to improved control and effectiveness of sourcing goods and services. Automating the strategy results in better matching to the objectives of the business.

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27 Jan 2021

4 Key Procurement Trends for 2021

The 4 trends highlighted amount to businesses working to improve the resilience of their supply chains over the year ahead. These trends should not simply be viewed as a reaction to Covid or a response to current uncertainties in the geopolitical landscape.

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08 Oct 2020

4 CFO Priorities for 2021

The Covid-19 pandemic continues to cause global economic disparity and uncertainty, making it difficult to predict what lies ahead for the global economy. However, many lessons have also been learned this year, presenting opportunities for CFOs in 2021.

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27 Mar 2020

Crisis Management: The Top 5 Business Priorities for Finance Leaders During Covid-19

Are all eyes on crisis management during these unprecedented times? Here are the top five priorities to focus on, to help you through Covid-19

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05 Mar 2020

Covid 19: Why Aligning Procurement and Accounts Payable is Now a Necessity

By pairing Procurement and Accounts Payable, you unlock significant benefits. Learn the top five benefits and how to create ample communication and clear goals for the two departments

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20 Feb 2020

5 Tips for Working Capital in 2020

Working Capital is finally on the rise. Read the blog to discover five top tips on how to make the most of your Working Capital in 2020

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08 Jan 2020

5 Crucial Procurement Trends for 2020

Important technological changes have occurred that promise to continue reshaping procurement in 2020 and beyond. Here are five of the critical trends that are expected to shape procurement in 2020.

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27 Nov 2019

Unlocking the Benefits of Pre-Approved Spend

Pre-approved spend is a process that empowers specific individuals, departments or teams to take greater control of their spending while still complying with established procurement procedures.

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30 Oct 2019

The Importance of Contract Visibility in your Procurement Process

One of the keys to an effective agreement management process — and impactful procurement — lies in maintaining contract visibility. In this blog, we discuss why visibility is so critical to your mission and how automated solutions can help you achieve it.

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12 Sep 2019

Tackling Maverick Spend in your Organization

Maverick spend is an expense that results from purchases made outside of corporate guidelines and adopted procedures. It can be accidental or intentional and typically occurs when an employee unilaterally purchases a product.

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03 Aug 2019

Contract Matching: The Solution to your Recurring Payment Inefficiencies

Contract matching, found within many contract management systems, is a transformative tool that allows organizations to automatically match invoices that they receive for regular and predictable payments to an underlying contract.

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31 Jul 2019

The Benefits of Implementing Vendor Management

Supplier management is an organization’s ability to oversee all contact with third-party suppliers. When managed effectively, suppliers can help you meet customer demand and streamline your supply chain execution for improved production and profit.

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09 Jul 2019

The Future of AI in Procurement

The future of AI in procurement has limitless potential. Whether you want to automate mundane tasks, detect fraud or keep up with the latest trends in your industry, AI lets you reach your short- and long-term goals.

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26 Jun 2019

The Importance of Corporate Social Responsibility within Procurement

With customer experience now driving brand loyalty, organizations are beginning to focus heavily on corporate social responsibility within procurement.

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22 Jun 2019

5 Characteristics of the Future CPO

The characteristics of the future CPO will be drastically different to those of the past, with a focus on leadership, technology, market expertise and cost reduction central to the role.

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16 May 2019

How Does Big Data Analytics Impact Procurement?

The age of big data analytics is equipping organizations with much more detailed information, and often in real-time. Teams are now positioned to make smarter and more accurate decisions on spending, suppliers and developing stronger procurement strategies.

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11 May 2019

5 Ways CPO and CFO Relations Can Fuel Strategic Procurement

In many ways, the most important working relationship in an organization is that of the CPO and CFO. Many of their priorities and responsibilities overlap, and so opportunities exist for collaboration on aligning organizational and procurement strategies.

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26 Mar 2019

3 Essential Skills for Modern Procurement Teams

All areas of organizations are being digitally transformed, and the changes are really being noticed in modern procurement teams.

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12 Mar 2019

The Current State of Procurement and Priorities for 2018

The B2B procurement landscape has undergone a major transformation in recent times. Simply ordering a product or service online is something that was not as commonplace 20 years ago.

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