Dedicated to bringing readers the latest trends, insights, and best practices in procurement and supply chain management. As a collective of industry professionals and enthusiasts, we aim to empower organizations with actionable strategies, innovative tools, and thought leadership that drive value and efficiency. Stay tuned for up-to-date content designed to simplify procurement and keep you ahead of the curve.
What is eSourcing (electronic Sourcing)? eSourcing, otherwise known as electronic sourcing describes a cloud-based digital solution for collecting and comparing information about multiple suppliers in order to help a buyer make a more informed choice. Organisations can benefit from the technology by generating savings from their supply chains, increasing visibility of key business information, and […]
What is Supplier Management Supplier management ensures that an organization receives the best value from its suppliers. An organisation’s smooth running depends on these suppliers, so it’s important for both suppliers and organizations to work together properly. A comprehensive supplier management policy ensures that the organization establishes a relationship with its suppliers, manages its requirements, and communicates clearly with them. […]
Best Practices for Supplier Management Managing suppliers is an essential component of a business’ procurement process. Done well, it can turn you into a company superstar. Poor management, however, can add more stress to the situation. A poor supplier management can result in several issues, including: A missed opportunity to save Supplier performance problems due […]
How To Choose Suppliers For Your Business Supplier selection criteria A company’s success depends heavily on its suppliers. It is essential for businesses to take into account a number of critical factors when finding the right ones, such as: Price Value for money Quality Reliability Values Responsiveness Flexibility Financial Stability You should focus on what your […]
Supplier Selection & Evaluation – How To Find The Right Suppliers It is important for your business to be able to source top quality products and services at a competitive price and with the assurance that they are being produced in a reliable manner so your company can succeed in today’s competitive market. This might not come as […]
Best Practices for Supplier Management Managing suppliers is an essential component of a business’ procurement process. Done well, it can turn you into a company superstar. Poor management, however, can add more stress to the situation. A poor supplier management can result in several issues, including: When a company builds a strong supplier management process, […]
Direct vs. Indirect Procurement: What’s the Difference? Essentially, procurement involves acquiring the supplies every organisation needs to function day-to-day. When you get into the details, you start to bring in all the supporting factors that make procurement work. The procurement process can be broken down neatly into two niches—direct and indirect procurement. Despite the fact that both of these […]
The Ultimate Supplier Performance Evaluation Checklist Steps To Evaluate Suppliers The success of your business depends on the performance of your suppliers. A poorly performing supplier can negatively affect your bottom line and even put your company at risk. That’s why it’s important to evaluate your suppliers regularly. We will provide you with a quick checklist […]
Identifying The Risks Associated With a New Supplier Relationship The concept of supplier relationship management isn’t necessarily new, but it needs to be better formalised in the current economic climate Rather than being a transactional interaction involving a contract kept in a filing cabinet until renewed, vendor-supplier relationships are by necessity becoming increasingly strategic; a continual constant conversation that […]
A Complete Guide To Supplier Relationship Management There are a number of ways an organization can manage its supplier relationships, from determining how each supplier contributes to its success to developing strategies that will help them perform more efficiently. Supplier relationship management (SRM) is a systematic approach to evaluating vendors that provide goods, materials, and services to […]
The Complete Supplier Compliance Process Any successful interaction within procurement, whether internal or external, depends on smart relationship management. The requirement for an efficient and effective vendor compliance program is non-negotiable when it comes to reducing costs and building strong, mutually beneficial relationships with your vendors. By drafting and implementing a comprehensive vendor compliance policy, including chargebacks where necessary, you can reduce expenses […]
The Ultimate Guide To Successful Supplier Lifecycle Management A successful collaboration requires a thorough understanding of every aspect of the supplier. Supplier lifecycle management involves managing these aspects. By ensuring quality throughout the cycle, supplier lifecycle management enables companies to identify the right suppliers and get better value. Below are the most important phases of […]
The Benefits, Processes, And Best Practices Of Supplier Management Business processes have been dramatically impacted by globalization, which has created a more dynamic, competitive, and complex environment for today’s businesses. As a result, every organization relies on suppliers to provide goods and services in order to successfully operate. Managing suppliers is of paramount importance for any business that […]
How Do You Measure Procurement Savings? Each company prepares annual accounts that summarize its financial performance, and over time, comparing them is a measure of how well it is doing relative to previous years. There is a limited amount of detail in these accounts, and they are a top-level summary of the numbers that can […]
What Is Source-To-Pay (S2P)? Source-To-Pay Vs Procure-To-Pay What Is Source To Pay (S2P)? An S2P is a sourcing and procurement process in which suppliers are sought out, negotiated with, signed up for, and eventually paid for their products or services. This in turn results in the payment of those products or services. S2P software enables individuals […]
What Is Source-To-Pay (S2P)? Source-To-Pay Vs Procure-To-Pay What Is Source To Pay (S2P)? An S2P is a sourcing and procurement process in which suppliers are sought out, negotiated with, signed up for, and eventually paid for their products or services. This in turn results in the payment of those products or services. S2P software enables individuals […]
RFI (Request For Information) Definition Requests for information (RFI) are fairly formal documents written by an organization in order to collect information from potential suppliers in order to determine their capabilities. In an RFI, customers are asked to provide information about their business and send it to potential suppliers. The RFI (Request for Information) is usually […]
RFP Process – Step-By-Step Guide RFP processes (part of the eSourcing process) are often complex and time-consuming, despite their importance. There are many obstacles to overcome, but if you use the right approach and resources, you can find success faster. You will gain confidence managing RFPs by using the tools we offer in this blog. As a starting […]
RFP Process – Step-By-Step Guide RFP processes (part of the eSourcing process) are often complex and time-consuming, despite their importance. There are many obstacles to overcome, but if you use the right approach and resources, you can find success faster. You will gain confidence managing RFPs by using the tools we offer in this blog. As a […]
How Can A Company Utilise eSourcing Software? What Is E-Sourcing? As a result of rapid advances in the development of e-sourcing software, procurement professionals as well as entrepreneurs have created secure, online tools to assist procurement businesses from around the globe. In addition to reducing costs, centralised information, ensuring consistency, and providing instant feedback directly to clients, […]
What is RFX Process in Procurement? Understanding RFP’s, RFQ’s & RFI’s The ability to obtain standardised information from suppliers has been and continues to be a challenge. It is difficult for procurement departments to compare quotes or due-diligence information received from suppliers in different formats, as they are offered in different formats; hunting the information down can take a lot of […]
What is Electronic Procurement (eProcurement) What is e-procurement? Requisitioning, ordering, and purchasing goods and services online is known as electronic procurement (also known as e-procurement or supplier exchange). These are processes between businesses. While e-commerce uses a public system, e-procurement uses the closed system of the supplier and is only accessible to registered users. Using […]
RFI (Request For Information) Definition Requests for information (RFI) are fairly formal documents written by an organization in order to collect information from potential suppliers in order to determine their capabilities. In an RFI, customers are asked to provide information about their business and send it to potential suppliers. The RFI (Request for Information) is […]
How Do You Manage Supplier Relationships? It’s a simple fact that suppliers are an essential part of every business, with 70% of the average company’s revenue being spent with third parties. Despite this, for some companies the procurement process ends after signing a contract and starting to use a new supplier. Usually, the only time […]
How Can A Company Utilise eSourcing Software? What Is E-Sourcing? As a result of rapid advances in the development of e-sourcing software, procurement professionals as well as entrepreneurs have created secure, online tools to assist procurement businesses from around the globe. In addition to reducing costs, centralised information, ensuring consistency, and providing instant feedback directly […]
What Is eTendering? E-Tenders are an integral part of the procurement process, designed primarily to facilitate an effective method of procuring goods and services online. With E-Tendering, businesses can find the most cost-effective suppliers for upcoming purchases. Suppliers compete to win sales or provide business services in response to procurement opportunities. The etendering process can […]
What Is eTendering? E-Tenders are an integral part of the procurement process, designed primarily to facilitate an effective method of procuring goods and services online. With E-Tendering, businesses can find the most cost-effective suppliers for upcoming purchases. Suppliers compete to win sales or provide business services in response to procurement opportunities. The etendering process can […]
The Ultimate 7 Step Guide To Strategic Sourcing As the business climate becomes more competitive, many professionals are constantly looking for ways to keep costs down while still maintaining the highest quality of goods and services. The pursuit of that involves constantly improving and reevaluating a company’s purchasing activities, also known as Strategic Sourcing. What is Strategic […]
Purchasing vs. Procurement: What’s the Difference? Procurement and purchasing are both involved in the process of acquiring goods and services. Often, these two terms are used interchangeably, but they describe two distinct processes. The procurement function handles the entire strategic life cycle of an acquisition, whereas the purchasing function handles the transactional (tactical) process of acquisition Exactly what […]
ESG – What Is It? ESG, or environmental, social, and governance, as it is more commonly known, has become increasingly influential in corporate decision making. It was originally used to differentiate the value that companies deliver beyond just financial returns, but its use has grown as companies and investors have become more aware of the long-term benefits. The […]
How Does eSourcing Work? Our everyday lives involve making purchases, which we also do in business on a regular basis. We learn to do it when we’re young, and then generally follow the same simple procedure throughout our lives. Depending on the cost and complexity of the purchase, we put in different amounts of time […]
What Is A Procurement Cycle? Throughout our lives, we all purchase goods and services for ourselves. First, we identify exactly what we wish to purchase, and then, often subconsciously, consider what is going to deliver the greatest value to us, whether it is cost, or quality, or something else entirely. Once we have done this, […]
How Do You Measure Procurement Savings? Procurement savings are key as each company prepares their annual accounts that summarize its financial performance, and over time, comparing them is a measure of how well it is doing relative to previous years. There is a limited amount of detail in these accounts, and they are a top-level summary of […]
High Quality Procurement Data Can Help You Make Better Decisions The explosion of data available to companies has been growing at an exponential rate over the past few years. This is due to the collection of data by digital systems in every aspect of our daily lives, both work and personal. Using this data, businesses can continually improve […]
What is oboloo and How can Its Software Help Me? oboloo was created to help SMEs save time and money working with their suppliers, reduce supplier risk, and choose the right ones. oboloo is a cloud-based procurement tool that provides visibility and control over every phase of the procurement process, from sourcing to contract management to supplier management. In […]
What is eSourcing and Its Benefits? Buying or purchasing both goods and services is something that we all do in our daily lives, as well as in business. We learn the process when we’re very young and generally follow it throughout our lives. The amount of time and effort we dedicate to the purchasing process varies depending on the complexity and […]
Simple Tips For Sourcing Goods & Services The sourcing of goods and services is one component of the procurement process every company undertakes so they can get the best value from vendors and also work with the right vendors whose values are aligned with their own. A company can source without following a formal process or it […]
The Ultimate Guide To Purchase Orders What Is A Purchase Order (PO)? As a starting point, it would be logical to answer the obvious question, what is a purchase order? In order to purchase products or services, purchase orders (POs) are documents sent from you, as the buyer, to a supplier requesting products or services. It is expected […]
How To Measure Supplier Performance? Having run a competitive tender process, negotiated a good deal, signed the contract, and implemented a new supplier took a lot of time and effort. Some people consider this to be the point where the procurement process ends and the supplier is just left to deliver the goods or services. It would […]
Avoid Missing Contract Notice Periods A mistake that many of us make is not giving the correct notice on a supplier contract. As a result, either a contract rolls over automatically or an out-of-contract rate is applied. The cost of forgetting to give notice will vary depending on the value of the contract, the supplier and what kind of […]
The Ultimate Guide To Purchase Orders What Is A Purchase Order (PO)? As a starting point, it would be logical to answer the obvious question, what is a purchase order? In order to purchase products or services, purchase orders (POs) are documents sent from you, as the buyer, to a supplier requesting products or services. It […]
What Are The Benefits Of eSourcing Software? When we purchase goods and services, we use a process that has either been taught to us or developed by us from experience with the goal of getting the best value. While the best value process is often effective on a day-to-day basis, it usually fails to consider a business’s […]
The Time Benefits Of Using A Procurement Software In every area of their businesses, companies are increasingly implementing digital solutions to drive business efficiencies. These solutions often provide significant financial savings in procurement – often by delivering both cost reductions and cost avoidance against actual baseline spend. In addition to saving money, these digital procurement solutions also deliver substantial time-savings across every phase of the procurement process. eSourcing […]
How To Improve Profitability by Managing Third-Party Spend Profitability is the goal of every business. For companies to achieve this, they invest in marketing and sales to increase turnover, which results in increased profitability. There is another way to increase profitability, and that is by managing the spend of third-party suppliers. In addition to saving […]
What Values Are Important To Your Suppliers? When choosing a good or service, the first two things we usually consider are the quality and the price. Our perception of both tells us if what we are purchasing represents value for money. The concept of value for money varies from person to person and therefore from company […]
Cost Avoidance Vs Cost Reduction: What’s The Difference? When it comes to business, cutting any costs and avoiding any unnecessary expenditures is obviously key to improving profitability. Your profits will be higher if you can maintain a higher level of revenue and cash flow. Employees are often required by their employers to classify the financial benefits of capital investments or organisational […]
How To Ensure Your Suppliers Are Compliant It is the responsibility of every company to adhere to laws and regulations. Compliance varies based on the country, the industry and the size of the company, with some industries such as banking being more heavily regulated than others. Data Protection Act 2018 is an example of a law that every […]
What Are The Most Important Dates In Supplier Contracts? Supplier contracts are often signed and then filed away in a desk drawer or shared drive without much management, except for when there is a problem. Until a new contract can be negotiated or put out to tender, the supplier delivers the goods or services and invoices are […]
How Can eProcurement Help Small & Medium-Sized Enterprises (SMEs)? What is eProcurement? Procurement software, also known as eProcurement, is used to purchase goods and services from suppliers. Recent years have seen an evolution of eProcurement. Traditional eprocurement systems focus on procuring goods and services from suppliers via sourcing, eTenders and eAuctions. However, newer and more advanced systems on the market have […]
Procurement Should Be About Cost…And Value We make decisions based on the values that we are brought up with at home, in school, and in the workplace. These values impact most purchasing decisions and are particularly important when evaluating suppliers to better understand how they can provide value beyond just a price difference. The first thing you’re […]
Cloud Procurement Software for Small and Medium-sized Enterprises (SMEs) As a result of cloud computing , business software solutions that were previously only available to larger companies with deep pockets have become democratised. For many years, these larger companies invested significant funds in on-premise software that was customised, implemented, supported and updated by consultants. They gained competitive […]
What is The Procurement Savings Tracking Process? In the same way that companies track the revenue generated by their sales and marketing departments, they can also track the cost savings delivered by the finance and procurement departments. Although cost savings may appear to be much smaller than sales revenue over the same period, they can have an equally powerful impact on company’s profitability. The best […]
How Do You Get The Best From Suppliers? Suppliers play a crucial role in the success of the majority of businesses, with 70% of the average company’s revenue being spent with third parties. Despite this, some companies end the procurement process when they sign a contract and begin working with a new supplier. Apart from purchasing from them, the […]
How To Save Money Managing Supplier Contracts Better managing third-part supplier contracts probably isn’t high up on many companies’ finance department to-do lists. However, it’s been estimated that the average company loses about 9% of annual turnover due to poor contract management practices. With a typical company’s profit margins hovering around 10%, even halving this loss can increase profit margins by […]
A Simple Sourcing Process For Small & Medium Businesses (SMEs) Getting Sourcing right for goods and services goes beyond just direct cost savings and quality to deliver additional cost and time savings, as well as other less tangible but equally important benefits, such as ESG and innovation. Sourcing is not as complicated as it may seem as […]
How To Manage Third-Party Supplier Spend And Increase Profitability Profitability is the goal of every company. Most companies increase profitability by investing in marketing and sales in order to generate turnover. Another way to increase profitability is to manage third-party supplier spend. Actively managing this spend saves companies not only money, but also valuable time, allowing them to better […]
Is Digital Procurement Right For My Business? All companies procure goods and services, from start-ups to companies with billion-pound turnovers. No matter how large or small a company is, the basic procurement processes are similar. A sourcing process entails identifying suppliers, negotiating and managing contracts, and monitoring the savings produced. Compared to a small start-up, larger companies have more […]
How To Calculate Procurement Savings No matter what industry a business is in, it requires several items to operate. Materials, equipment, and primary products are all required. As well as repairs, training, and other services, companies sometimes require a wide range of services to maintain them. Such costs can accumulate, especially if they are not properly managed. A […]
Profit From Managing Your Supplier Contracts Better As we come to the end of the year and plan for 2022, there is still a huge amount of financial uncertainty in the world due to Covid, the global economy and the prospect of inflation and interest rate rises in the UK. This only continues to make it difficult for […]
Work With Suppliers Who Share Your Values A charity is nothing without its values. Having a strong and easily communicable set of values builds trust between a charity and its supporters, giving employees, volunteers, donors, and beneficiaries the confidence that the organisation is acting ethically and in their best interests. Most importantly, it shows that the money they raise is going to […]
A Procurement Process Benefits Both Buyers and Sellers Purchasing is not the same as procurement. Although, both are involved in the acquisition of goods and services, they are two distinctly different processes. Understanding this can help companies become better at both buying and selling. Purchasing is the transactional part of doing the actual acquiring; from creating […]
Benefit From Following A Procurement Process As we approach the end of the 2021, companies are looking for ways that they can strengthen their finances after Covid and against the threat of inflation and interest rate rises next year. Following on from Cop 26 companies are also beginning to place more importance on sustainability and want to reduce their carbon footprint, which includes working more […]
Suppliers Play A Crucial Role In Business And The Journey To Net Zero Cop 26 has reignited news headlines across the globe to focus on our environment and people are now talking more than ever before about the practicalities of delivering what the politicians have promised the world and the impact it will have on their businesses. One […]
What are Scopes 1, 2 & 3 and How Are They Relevant to Procurement? With COP26 wrapping up next week, carbon emissions are as high as they’ve ever been on the international agenda. Inaction will lead to severe hunger levels, mass migration as a result of floods, the collapse of financial markets, along with many other socio-economic disasters, […]
What Is A Cryptocurrency? A cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need […]
What is Blockchain? Blockchain technology is the concept or protocol behind the running of blockchain and cryptocurrencies. Blockchain technology makes cryptocurrencies like Bitcoin work just as the internet makes email possible. Blockchain is based on two fundamental properties. It’s an immutable (unchangeable, i.e. a transaction or file recorded cannot be changed) distributed digital ledger (digital record of transactions […]
oboloo Joins Tech Zero oboloo has joined Tech Zero, a group of tech companies who are joining forces to accelerate progress to net zero, support tech companies in making a climate action plan and use tech to help the customers they serve live more sustainably. Tech Zero is led by Bulb and industry body Tech Nation, […]
Why Does a Company Need an RFP Software? Still searching through old files, emails or chasing teammates for RFP responses? Then you will almost definitely benefit from an RFP software. Almost every work task can be automated. Considering the number of tools available today, it is not a matter of determining if a task can […]
What is Three-way Matching? To eliminate fraud, save money, and maintain adequate records for auditing, three-way matching involves matching purchase orders (POs), goods receipt notes, and supplier invoices. In most cases, payment is issued to the supplier after a 3-way match has been made. Verification of invoices through three-way matching involves examining relevant documents proving that: In […]
What is Procurement Management? The procurement management function makes sure that all the processes involved in a business’s acquisition of products, materials, goods, and services run smoothly. Depending on the business and industry, purchasing, procurement, and sourcing may be used interchangeably. Purchasing and procurement provide the actual operational function whereas sourcing is considered the strategic function. […]
Tips For Sourcing Goods & Services The sourcing of goods and service is the one part of procurement process that every company does to ensure they get best value from suppliers and also work with the right suppliers whose values align with their own. Companies either do sourcing activities without following a formal process or they […]
A Simple Sourcing Process For SMEs For many companies the Sourcing of goods and services is often as far as the procurement process goes, as it’s seen as the focus to get best value, to work with the right suppliers and to ultimately protect the company’s bottom line. It’s definitely a great place to start, […]
When Should A Company Use A Digital Procurement Solution? Every company from a start up to a billion-pound turnover company procures good and services. The basic processes of procurement will be the same for all companies, irrelevant of their size. The processes being the sourcing of the goods or services, managing supply contracts and suppliers and monitoring savings achieved […]
What’s The Difference Between Procurement And Purchasing? Both procurement and purchasing are involved in the process of acquiring goods and services. The two terms are often used interchangeably to describe this; however, they are two distinctly different processes. Procurement deals with the whole strategic life cycle of acquisition whilst purchasing is the transactional (tactical) process of doing […]
The Emergence Of Cloud-Based Software for SMEs Cloud based computing has helped to democratise business software solutions that were previously the preserve of only larger companies with deep pockets. Historically these companies invested significant amounts of money into on-premise software that was customised, implemented, supported and updated by consultants. These companies benefitted from the efficiencies and cost savings that […]
What Is oboloo And Who Is It For? oboloo was created to help SMEs save time and money working with their suppliers, reduce supplier risk and enable them to work with the right suppliers. oboloo is a cloud-based procurement software that gives them full visibility and control over every part of the procurement cycle, from sourcing and contract management to supplier […]
What Is Procurement and Why Is It Important For SME’s? Every company, everywhere in the world is doing it. It’s the opposite to customer sales as its’ where the company is the customer being sold to. It’s been an important part of most larger companies for many years and its playing an increasingly important role in SMEs […]
What is ESG (Environmental, Social and Governance)? ‘Environmental, Social and Governance’, or ‘ESG‘ as its more commonly referred to, is having an increasingly important influence on how companies operate. Originally used as a way of differentiating the value that companies deliver beyond just financial returns it has grown as companies and investors have become more […]
We All Follow A Procurement Cycle We all make personal purchases of goods and services throughout our lives. First, we identify exactly what we wish to purchase and we then, often subconsciously, consider what’s going to deliver best value for us, this might be based on cost, or quality or something totally different. Once we’ve done this, we’ll […]
Can Procurement Software Save You Time? Companies are increasingly investing in digital solutions to drive efficiencies and financial savings across every area in their business. One area that these solutions deliver significant financial savings is in procurement with the solutions often recording projected and realised savings delivered by both cost reduction and cost avoidance measured against actual baseline […]
How To Easily Increase Profitability by Managing Third-Party Spend Every company wants to increase its profitability. To achieve this most companies, invest in marketing and sales to generate turnover that leads to increased profitability. There is another way to increase profitability and that is to manage third-party supplier spend. By actively managing this spend companies not only […]
Are You Working With Compliant Suppliers? Every company is obliged to comply with laws and regulations. The amount of compliance varies by country, industry and size of company, with some industries such as banking more highly regulated than others. An example of a law is the Data Protection Act 2018 that every company must comply with. To become […]
What are the Key Dates In Supplier Contracts? Too often supplier contracts are signed and then filed away in either a desk drawer or shared drive with little or no management of the contract, except when there is an issue. The supplier delivers the goods or service and the invoices are paid until eventually a new contract is negotiated […]
What are the Steps in eSourcing? One thing that we all do in our daily lives that we also do frequently in business is to make purchases. It’s something that we learn to do when we’re young and then generally follow the same simple process throughout our lives. The amount of time and effort we put […]
How To Avoid Missing A Contract Notice Period One mistake that many of us make is to not to give the correct notice on a supplier contract. This can often result in either a contract automatically rolling over or being put on expensive out-of-contract rates. The cost of forgetting to give notice varies depending on the […]
How To Track Procurement Savings Just as every company tracks the revenue generated by their sales and marketing departments so they can also track the procurement savings delivered by their finance and procurement departments. Although any cost savings delivered may look to be significantly less than the sales revenues generated over a similar period, they can have an equally powerful impact […]
Do You Measure Supplier Performance? Your company has spent a lot of time and effort to run a competitive tender process, negotiated a good deal, signed the contract and implemented the new supplier. For some this is where the idea of the procurement process stops and the supplier is just left to get on and deliver the goods […]
The Ultimate Guide To Supplier Relationship Management (SRM) Supplier management is a process that drives the best value between a company and the suppliers they work with. Within strategic procurement, Supplier Management allows companies to plan, manage and improve interactions with third-parties that provide them with goods or services. Supplier relationship management (see below) is a key factor in a […]
A Proven RFI Process For Any Company The ultimate step-by-step guide to a successful request for Information What is a Request For Information (RFI)? A Request For Information or RFI, is usually the formal process (usually in the form of a document or questionnaire) of collecting information from a number of suppliers prior to carrying out […]
Do You Measure Procurement Savings? Every company prepares annual accounts that summarise its financial health and over time comparing them is a measure of how well its doing relative to previous years. These accounts are a top-level summary of the numbers, may be viewed externally and are limited in the amount of detail that they show. As the […]
How Do You Manage Supplier Relationships? It’s a simple fact that suppliers are an essential part of every business, with 70% of the average company’s revenue being spent with third parties. Despite this, for some companies the procurement process ends after signing a contract and starting to use a new supplier. Usually, the only time […]
Why use an eSourcing software? When we purchase goods and services, we follow a process that has either been taught or developed by ourselves from experience with the aim of always getting the best value. A best value process can work well on a day-to-day basis, however generally it does not consider the longer-term needs and commercial objectives when purchasing for […]
A Proven RFP Process For Any Company The ultimate step-by step guide to a successful request for proposal What is a Request For Proposal (RFP)? A request for proposal (sometimes referred to as a request for pricing), or RFP, is usually a document that describes a companies needs (usually goods and/or services). Typically it will […]
A Proven RFI Process For Any Company The ultimate step-by-step guide to a successful request for Information Table of Contents What is a Request For Information (RFI)? A request for information or RFI, is usually the formal process (usually in the form of a document or questionnaire) of collecting information from a number of suppliers […]
What Is Supplier Management? Supplier management is a process that drives the best value between a company and the suppliers they work with. Within strategic procurement, Supplier Management allows companies to plan, manage and improve interactions with third-parties that provide them with goods or services. Supplier relationship management (see below) is a key factor in a […]
How To Protect Your Company’s Bottom Line With eProcurement Software Over the last few years, an increasing number of large companies have begun to take advantage of eProcurement systems to deliver better visibility and control over third-party supplier spend and ultimately to protect and grow their profit margins. This increased investment in eProcurement systems has been driven by the […]
What is eSourcing? eSourcing, sometimes referred to as electronic sourcing is the process a company uses to procure goods and services from suppliers with the ability to compare them side by side based on quoted pricing or capabilities in order to choose a preferred supplier based on data. This process is typically carried out on […]
What Is Contract Management Software? Contract management software is a digital platform designed to be a repository for a company’s legal contracts as well as offering functions such as contract creation, contract negotiation, contract e-signature, contract renewal, contract notifications, and visual analysis. A contract management system has many benefits to an organisation, mainly with it being self-service, user-friendly so that anyone can […]
What is eProcurement? eProcurement, also known as electronic procurement is typically known as the process of purchasing goods and services from a supplier via a procurement software. eProcurement has evolved in recent years. Legacy eprocurement systems tend to focus on purely procuring goods and services from a supplier through a typical sourcing, eTender or eAuction […]