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All posts for Procurement
All posts for 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.
Read moreWith customer experience now driving brand loyalty, organizations are beginning to focus heavily on corporate social responsibility within procurement.
Read moreVendor management optimizes production and profit by fostering strong third-party relationships. Strong communication, collaboration, and trust help satisfy customer needs and streamline your supply chafin.
Read moreThe 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.
Read moreOne 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.
Read moreProcurement market intelligence is an increasingly vital component of corporate purchasing, and today’s companies must invest in this area to promote overall success.
Read moreCompanies 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.
Read moreEconomic uncertainty continues to generate cost consciousness globally, with few signs of abating. CFOs are pressuring procurement teams to step up.
Read moreSelecting 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.
Read moreProcurement 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.
Read moreAll 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.
Read moreCash 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.
Read moreEstablished 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.
Read moreIn 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.
Read moreBest in class procurement teams have left behind manual, time-consuming processes. Here are four steps to digitize your procurement process.
Read moreSupply 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.
Read moreWe have curated a list of six blogs for procurement leaders and professionals to explore and develop the skillset required to thrive in the future.
Read moreA 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.
Read moreOver 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.
Read moreMaking 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.
Read moreSetting 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.
Read moreThe 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.
Read moreThe 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.
Read moreAre all eyes on crisis management during these unprecedented times? Here are the top five priorities to focus on, to help you through Covid-19
Read moreBy 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
Read moreWorking 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
Read moreImportant 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.
Read morePre-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.
Read moreMaverick 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.
Read moreContract 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.
Read moreThe 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.
Read moreThe 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.
Read moreAll areas of organizations are being digitally transformed, and the changes are really being noticed in modern procurement teams.
Read moreThe 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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