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 […]
Where Do You Keep Your Supplier Contracts? It is estimated that companies lose around 4% of savings opportunities because of auto-renewing (so called ‘evergreen‘) contracts every year. The amount of turnover that this represents will vary by company, but it is not an insignificant amount of money to leave on the table, especially these days. […]
You Get The Quality You Pay For Once you’ve established that you want to purchase a good or service you’ll invariably look at the various features available that are offered and the price. As part of the price consideration you’ll also check the quality that you’ll receive in return. The rationale being that you pay for what […]
What is Procurement Software? Procurement software (sometimes known as eprocurement software) can be used to support businesses with tools to source goods and services, contract management, supplier management and savings management. Contemporary procurement software is usually hosted within the cloud and can be especially cost effective against older systems as there should be little need […]
How to select the right eProcurement software Procurement departments are the engines within a business that drive greater strategic value. Efficient procurement functions manage end-to-end activities to reveal critical insights not readily available to the wider company. Procurement departments however can struggle to produce these insights due to manual data processes or using legacy or […]
The Price Is Part Of The Cost The values that we are brought up with at home, school and in the work place help determine how we make decisions. These core values influence purchasing decisions and are especially important when evaluating suppliers to better understand how they can add extra value beyond just a price differential. Whenever you want […]
Do Your Suppliers Share Your Values? Whenever we purchase any good or service the first two things that we usually consider are the quality and the price. Our perception of both tells us whether what we are purchasing offers us value for money or not. The idea of what value for money looks like varies from person to […]
Key Considerations When Selecting An eProcurement Software Companies are turning increasingly to technology to deliver efficiencies and ultimately improve profitability. One area that technology is thriving in, especially in larger companies, is eProcurement. Finance and procurement teams have sought to use technology to deliver solutions to traditionally labour-intensive roles and leverage the processes to give them better control and […]
How To Make Better Decisions From High Quality eProcurement Data The explosion of data available to companies has increased exponentially over the last few years. This is due to the collection of data by digital systems in every aspect of both our daily work and personal lives. The collection of this data is being used to help continually […]
What Is e-Sourcing & How Does It Work? Traditionally, reviewing and comparing suppliers to find the best one was a lengthy and time-consuming process. However, these days, technology has made it much simpler and quicker. Because of e-Sourcing, gone are the days when you needed to go through an individual evaluation of suppliers to find which one […]
4 Easily Avoidable Procurement Mistakes Your organisation’s approach to procurement is one of the most important areas that can impact your business’ growth. It is what helps you to identify and deliver best value from suppliers, including reducing costs and streamlining your processes. Ultimately, it is what drive your bottom line. Ideally you should create a strategy […]
5 Benefits of Using a Cloud-Based eProcurement Software When it comes to the procurement of goods and services from suppliers for your business, a robust procurement strategy is important. This strategy is an established process to improve your company’s purchasing activities, from data collection and spend analysis to tendering, negotiation, contracting and supplier management. The goal is optimise the efficiencies of the process to deliver […]
eProcurement is More Than Just eSourcing eSourcing is only one part of the overall eProcurement process. eSourcing secures the best value and pricing which organisations can then lock into a contract. While eProcurement is the whole process from start to finish; sourcing to contract negotiation to ensure the smooth flow of goods and services. It allows you to […]
Improve Your Supply Chain Performance With These 5 Tips When it comes to successful procurement, having a steady supply chain is a crucial element. Supply chain managers are tasked with optimising efficiency strategies as the business climate evolves and as the company grows. Every stage of the supply chain must be thoroughly evaluated and monitored to deliver […]
How to Build Meaningful Relationships With Your Suppliers Working with the suppliers who provide goods and services to your company is essential for the smooth and successful running of your business. This is why supplier relationship management (SRM) is so important. While choosing cost-effective suppliers and maximizing the value of your relationship with them sounds […]
4 Ways To Improve Your RFP Process To Strengthen Your Business Improving how you manage Request for Proposals (RFPs) enables you to work more effectively with suppliers because you are better able to provide all the necessary details about a project for them to respond to. RFPs are more commonly used amongst larger organisations and public body institutions. However, this […]
What Managers Should Look for in an e-Procurement System Manual procurement processes, although reliable, are a costly, document-laden process. The time you spend on email or paper exchanges could be allocated to marketing and finding ways to become more competitive in a digital, tech-first business landscape. Among managers surveyed in Deloitte’s 2018 Global CPO Survey, 83 per cent […]
4 Reasons To Utilise E-Tendering In Your Business Businesses at present are gradually learning the benefits of using on an online procurement platform to speed up transactions and make business procedures more efficient. But before you rush into looking to integrate one with your own company, it would helpful to first determine if your business requires […]
How Supplier Management Solutions Can Help Your Business The growth and sustainability of any business is directly linked to the success of its supply chain. Building and managing one can be incredibly complex, mainly for procurement teams. This is especially true if you don’t know where to start expanding. It’s also possible that any spend reports generated don’t […]
How To Develop An Effective E-Procurement Approach If you’re running a business that handles multiple transactions a day concerning suppliers and clients, it’s essential to establish a practical procurement strategy. It will involve how you manage your products or services, carry out negotiations and store business documents. One convenient way to improve the flow of […]
The Basics of Direct And Indirect Procurement Procurement is an integral part of every business’s operations. It is the process of sourcing and negotiating terms in which goods and services are exchanged between a business and a third party. It usually involves a competitive bidding procedure known as tendering, in which potential suppliers make offers […]
Two Signs You Should Switch Over To A Cloud Based Procurement Software The prominence of cloud computing today has exceeded consumer expectations because more industries seek to leverage the technology to advance their operations. From the world of finance to the comfort of our own homes, the influence of “the cloud” is now ubiquitous because of its application […]
3 Reasons Supply Chain Visibility Is Essential Supply chain management has become more complex over the years as it expands to more locations all over the world. Delivering to locations across the globe has made products much more accessible, but it also comes with its own set of challenges. With these logistical difficulties, it is easy […]
How Does E-Procurement Help Upgrade Your Business The development of software to support B2B companies continually drives different industries to greater success. The better businesses work together with each other, the more effective they become are as individual businesses. Implementing an e-procurement platform for your company is an excellent way to increase productivity whilst streamlining your various […]
How E-Sourcing Software Helps Streamline Your Procurement Process E-sourcing software is becoming an increasingly important part of the operations of many businesses. It centralises key information and ensures consistency across products and services delivered. Software like this also provides instant feedback, which significantly reduces operating costs. The e-sourcing software industry is projected to be worth about $9.7 […]
What to Look for in Vendor Management Software In this fast-paced society, having vendor management software to support your business can bring the convenience and efficiency you need to grow. With numerous online procurement management systems available in the market today, finding the best solution for your business needs is not always easy. Getting another software is […]
Four Reasons Why An eSourcing Platform Is A Good Investment Four Reasons Why An eSourcing Platform Is A Good Investment In the world of e-commerce, it’s important to have full control and visibility of your suppliers. An effective way to achieve that is by eSourcing, which is also known as electronic sourcing. This involves using a […]
Top 3 Benefits Procurement Teams Get From SaaS Solutions Businesses that heavily rely on purchasing goods or services from a third-party may get involved in a long complex procurement process. It can take many weeks for the procurement team to evaluate the RFPs, showcase the findings to executives, negotiate terms and review all the responses to reach a successful […]
4 Steps For Selecting The Right Software For Your Business 4 Steps For Selecting The Right Software For Your Business Choosing software for your business can be exciting, but it can be extremely stressful if you don’t really know what you need. There are a lot of options to choose from and selecting the right one that fits […]
How E-Tendering Is Helping the Public Sector As Well As Business How E-Tendering Is Helping the Public Sector As Well As Business A growing number of businesses and public sector departments are moving online, and e-tendering is one of them for them doing so. E-tendering is the process of procurement transferred to an online space. In some […]
How to Improve Your Organisation’s Spend Analysis & Procurement How to Improve Your Organisation’s Spend Analysis & Procurement The most important business strategy today, according to a report on a survey conducted by Deloitte, is reducing costs. Organisations need to do a thorough analysis of exactly where they are spending money and on what. They must […]
3 Benefits of Adopting Supplier Management for Your Business 3 Benefits of Adopting Supplier Management for Your Business SME’s and enterprises usually require many suppliers in order to operate efficiently and grow. This means you are more likely required to conduct supplier onboarding and vetting, which is the process of gathering data and documents needed so you can contract vendors, buy […]
4 Reasons to Upgrade Your Procurement Process 4 Reasons to Upgrade Your Procurement Process There are always a series of processes to follow in any organisation. Whether it is in the general decision-making or specific to procurement, there are specific steps that should be followed. These processes are governed by rules that encourage everyone in the […]
Why use a cloud-based procurement software? Why use a cloud-based procurement software? With the modern business landscape becoming ever more technologically-dependent, it’s clear that there is no reason for companies to not take advantage of the opportunities at hand. Thanks to the paradigm shifts affecting digitally-driven tools, the processes that each organisation follows are more efficient, […]
4 Reasons to Use a Contract Management Software in 2023 4 Reasons to Utilise Contract Management Software in 2020 When handling a business, one of the more important things to track are your contracts that you create and handle. Be it for your vendors / suppliers, your employees, or your clients, managing your contracts is essential to […]
What To Look For In A Contract Or Supplier Management Software Contract management software used to be for record-keeping or legal auditing purposes only. Today, though, management software have become enterprise-level solutions. Since organisations are always looking for ways to minimise costs and risks while maximising revenue, streamlining processes has become a need rather than a want. […]
What Is a Procurement Platform? What Are The Latest Trends In Procurement Software’s? The business world can be incredibly fickle, so ensuring that every aspect of your business is working as it should is important as it helps insulate it from any external factors that may affect it. One of the most important parts of their business […]
What Is a Procurement Platform? What Is a Procurement Platform? When it comes to profitability, the procurement section of any private organisation serves as its strategic arm. Procurement is the division that helps make the process of outsourcing and supplying goods more efficient. For it to be effective, it needs to be optimised while still following the […]
The benefits of Software as a Service (SaaS) The benefits of Software as a Service (SaaS) Software as a Service (SaaS) services are widely used by many businesses today. In fact, cloud-based software is the default deployment method of many companies these days. According to the Computer Economics report, about 60% of companies have integrated SaaS solutions […]
7 Ways Supplier Management Improves Business Efficiency As a business owner, you’ll want to ensure that the money you spend with a supplier provides you with great value in return. To do so, you need to start by recognising the two main pillars of supplier management, which are: To evaluate whether your suppliers are performing according […]