Strategic Sourcing

Strategic Sourcing and Its Importance in the Procurement Process

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Every business’s goal is to generate profits. Every business, in theory, seeks to optimize its resources, thereby keeping costs at a minimum, which, in turn, leads to higher profit. Businesses, especially large corporations, invest significantly in supply chain management, or SCM, wherein the business will implement a strategy that streamlines activity during the procurement process […]

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Audit Your Procure to Pay Process

How to Audit Your Procure to Pay Process for Better Efficiency

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For many businesses looking to secure raw materials and optimize their supply chain, the procurement process is complex. It involves many steps, interactions with suppliers at various stages, and multiple team members moving individual purchases and transactions along to the payment stage. For greater business efficiency, optimizing your procure to pay process is crucial. By […]

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automated P2P solutions

Strategies for Easier Implementation of Automated P2P Solutions

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Trying to manage enterprise spend is one of the biggest challenges for procurement managers and their teams. Automation can streamline the procure-to-pay (P2P) process. However, implementing new automated P2P solutions can bring a new set of challenges. Procurement typically starts with an identification of a requirement and ends with paying the supplier. In-between is a […]

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Leveraging Spend Analysis Software to Monitor Supplier Compliance

Leveraging Spend Analysis Software to Monitor Supplier Compliance

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Spend analysis software plays a key role in every e-Procurement solution. In the digital age, most procurement managers know that performing a thorough, automated spend analysis can lead to a fortune in cost savings. However, you can also use spend analysis solutions to achieve a lesser-known benefit: supplier compliance. Below we will explore this hidden […]

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