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source-to-pay

Source to Pay: Demystifying the Source-to-Pay Process

Source to Pay: Demystifying the Source-to-Pay Process Introduction to Source-to-Pay Process Procurement is a critical function for any organization, ensuring that goods and services are acquired in a cost-effective and timely manner. But behind the scenes, there’s a complex web of processes and stages known as the source-to-pay process that keeps this engine running smoothly. In this blog post, we’re …

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Strategic Sourcing Consultants

Strategic Sourcing Consultants: Navigating Procurement Excellence

Strategic Sourcing Consultants: Navigating Procurement Excellence Introduction to Strategic Sourcing Consultants In today’s competitive business landscape, strategic sourcing has become a crucial component for organizations looking to optimize their supply chains and maximize profitability. And that’s where strategic sourcing consultants come into play. These experts bring a wealth of knowledge and experience to help businesses navigate the complex realm of …

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Direct Sourcing

Direct Sourcing That Works: A Blueprint for Success

Direct Sourcing That Works: A Blueprint for Success In this blog post, we will delve into the world of direct sourcing, exploring its definition, benefits, and challenges. We’ll also provide you with a blueprint for implementing a successful direct sourcing strategy and highlight case studies of companies who have reaped its rewards. So buckle up as we embark on an …

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Dynamic Discounting

Dynamic Discounting: A Game-Changer in Procurement

Dynamic Discounting: A Game-Changer in Procurement Introduction to Dynamic Discounting When it comes to procurement, finding innovative solutions that optimize efficiency and cost savings can be a game-changer. One such game-changing strategy is dynamic discounting – an approach that has been transforming the way organizations manage their procurement processes. Imagine being able to unlock potential discounts on your purchases while …

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procurement sourcing plan

Crafting a Winning Sourcing Plan: Strategies for Success

Crafting a Winning Sourcing Plan: Strategies for Success Introduction to Sourcing Plans In today’s competitive business landscape, having a well-thought-out sourcing plan is crucial to stay ahead of the game. Whether you are running a small start-up or managing a large corporation, optimizing your procurement process can significantly impact your bottom line and overall success. In this article, we will …

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Intelligent Sourcing

Intelligent Sourcing: The Future of Procurement

Intelligent Sourcing: The Future of Procurement In the fast paced digital age, businesses are embracing intelligent sourcing as a game-changing strategy to optimize their procurement processes. But what exactly is intelligent sourcing? How can it revolutionize the way companies procure goods and services? And what benefits does it deliver? What is Intelligent Sourcing? Intelligent sourcing can be described as a …

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RFP Template

Simplify Software Procurement: Your Ultimate RFP Template Guide

Simplify Software Procurement: Your Ultimate RFP Template Guide Introduction to Software Procurement Welcome to the world of software procurement! In today’s rapidly evolving business landscape, finding the right software solutions can make all the difference in driving efficiency, enhancing productivity, and ultimately achieving success. However, navigating the complex realm of software procurement can be a daunting task. That’s where an …

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Savings strategies

Mastering Procurement: Strategies for Streamlined Sourcing and Savings

Mastering Procurement: Strategies for Streamlined Sourcing and Savings Welcome to the world of procurement, where sourcing strategies and cost savings reign supreme. Whether you’re a seasoned professional or just dipping your toes into the procurement pool, mastering this art is crucial for any business looking to thrive in today’s competitive landscape. Procurement is more than just purchasing goods and services; …

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Single Sourcing

The Benefits and Drawbacks of Single Sourcing in Procurement: Is It Worth the Risk?

The Benefits and Drawbacks of Single Sourcing in Procurement: Is It Worth the Risk? Procurement is a vital component of any business that deals with acquiring goods or services. It involves selecting suppliers, negotiating terms and conditions, and ultimately purchasing what the company needs to operate smoothly. One area of procurement that has been gaining attention in recent years is …

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Supply Chain Cost Control

The Importance of Supply Chain Cost Control in Today’s Business Landscape

The Importance of Supply Chain Cost Control in Today’s Business Landscape In today’s landscape, where competition is cut-throat, reducing costs and boosting efficiency has become more critical than ever before. One way to achieve this goal is through supply chain cost control. By managing costs throughout the entire supply chain process, companies can reap various benefits such as increased profitability …

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Hardware Supply Chain Procurement

Navigating the Complexities of Hardware Supply Chain Procurement: Risks and Mitigation Strategies

Navigating the Complexities of Hardware Supply Chain Procurement: Risks and Mitigation Strategies In today’s ever-evolving world of supply chain management, procurement hardware plays a vital role in ensuring the success of any organization. From computers and servers to specialized machinery and equipment, hardware is an essential component that enables businesses to operate efficiently and effectively. However, with great importance comes …

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Source to Pay vs Procure to Pay

Source to Pay vs Procure to Pay: Understanding the Key Differences

Source to Pay vs Procure to Pay: Understanding the Key Differences When it comes to managing your business’s finances, there are many different strategies and methodologies you can use. Two of the most popular methods are source to pay and procure to pay. While these two approaches may sound similar at first glance, they actually have some significant differences that …

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Supply Chain planning

Why Procurement and Supply Chain Planning are Essential for Business Success

Why Procurement and Supply Chain Planning are Essential for Business Success When it comes to running a successful business, procurement and supply chain planning are two crucial components that cannot be ignored. Procurement involves the process of finding and acquiring goods or services from external sources, while supply chain planning encompasses all the activities involved in getting those goods or …

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Inventory Management procurement

The High Stakes of Inventory Management in Procurement and Ecommerce

The High Stakes of Inventory Management in Procurement and Ecommerce Inventory management is a crucial element in running any business, especially for procurement and ecommerce. It can make or break a company’s success and profitability. With the increasing demand for online shopping, businesses must ensure that their inventory levels are always up to date with customer demands. The stakes are …

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Ethical Sourcing

The Importance of Ethical Sourcing: How Responsible Procurement Can Benefit Your Business

The Importance of Ethical Sourcing: How Responsible Procurement Can Benefit Your Business In today’s world, businesses are not only focused on profitability but also on social responsibility. One of the critical aspects of corporate social responsibility is ethical sourcing. Ethical sourcing refers to the procurement process that takes into account various factors such as labor standards, environmental practices, and human …

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RFP Process

The RFP process: Everything You Need To know

The RFP process: Everything You Need To know RFPs (Request for Proposals) play a critical role in the success of any business. They are a key component in determining the success of any project, from vendor selection to contract negotiations. Choosing the right partner is necessary to ensure that the project is completed on time and budget and that customer …

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RFP, RFI, RFQ

RFI, RFQ, RFP: How to Differentiate

RFI, RFQ, RFP: How to Differentiate When it comes to procurement and supply chain activities, the terms RFI, RFQ, and RFP are often used interchangeably. But even though they all may look similar, they each have distinct differences that can impact decisions made in the business process. In this article, we’ll discuss what an RFI (Request for Information), an RFQ …

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Source to pay

Source To Pay in Procurement – The Ultimate Guide

Source To Pay in Procurement – The Ultimate Guide Introduction In today’s procurement landscape, many organizations are turning to source-to-pay (S2P) solutions to gain visibility, control and efficiency in their supply chains. It’s no wonder why; S2P can help boost profits, reduce paperwork and improve compliance – all while streamlining the entire procurement process. But what exactly is source-to-pay, and …

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eSourcing

eSourcing – The Ultimate Guide to eSourcing Software

eSourcing – The Ultimate Guide to eSourcing Software Introduction to eSourcing eSourcing software is a digital tool that streamlines the process of sourcing and procuring products and services from suppliers. It allows buyers to request quotes from multiple suppliers, compare prices and terms, and track supplier performance. eSourcing also enables buyers to negotiate with suppliers, manage contracts, and pay invoices electronically. eSourcing software can …

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what does sourcing mean

What Does Sourcing Mean? Procurement Definition

What Does Sourcing Mean? Procurement Definition What does sourcing mean in procurement? It’s a concept and practice that has become increasingly important for businesses, both big and small. Procurement is the process of acquiring goods and services to meet an organization’s needs. Sourcing, on the other hand, is the process of finding suppliers so that those needs can be met in …

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e auction

What is an eAuction?

What is an eAuction? Are you familiar with the term “eAuction”? If not, don’t worry! In this blog post, we will provide you with an in-depth look at what an eAuction is and how it can be used to benefit businesses. We will explore the concept of eAuctions, its benefits, as well as drawbacks and tips for using them effectively. Whether you …

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Sourcing Software

What are the Benefits of a Strategic Sourcing Software?

What are the Benefits of a Strategic Sourcing Software? Strategic sourcing is a process that involves evaluating and negotiating with suppliers to ensure the best price, quality, and delivery of goods. This type of process is often used in large enterprise-size companies or organizations because it enables them to streamline their operations and purchase from the most qualified suppliers. However, managing this process …

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eSourcing

How do e-Sourcing Tools Save Money for Procurement Teams?

How do e-Sourcing Tools Save Money for Procurement Teams?   The use of e-sourcing tools has been on the rise in recent years as companies look for ways to cut costs and streamline their procurement processes. And for good reason—e-sourcing tools can save your company a significant amount of money. In this blog post, we will explore how e-sourcing tools save money …

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Values

Why are Values Important In Procurement Processes?

Why are Values Important In Procurement Processes?   There’s no denying that values are important in every aspect of our lives. They shape our decisions, our relationships, and our world view. So it should come as no surprise that values also play a role in the procurement process. For businesses, procurement is all about getting the best value for their products and services. But …

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esourcing benefits

What is eSourcing? Definition

What is eSourcing? eSourcing, or electronic sourcing, is the process of using technology to procure goods and services. It’s a subset of Business-to-Business (B2B) commerce and can be used for both direct and indirect spend. eSourcing platforms streamline the procurement process by automating key steps like supplier selection, contract management, and spend analysis. This helps buyers save time and money, while also ensuring that …

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etendering

How to write an RFP: RFP template, 8 Tips & Process

How to write a Request For proposal (RFP): RFP templates, 8 Key Tips, Process and tools A Request for proposal (RFPs) is one of the most important tools your business can have in its arsenal. By issuing RFPs, you can attract new customers, increase sales, and even win new contracts. But before you can create an effective RFP, you need to know what …

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Strategic Sourcing2

How Does Strategic Sourcing Work?

How Does Strategic Sourcing Work? The aim of strategic sourcing is to ensure the timely delivery of goods and services in line with an organisation’s business objectives, while reducing supply chain risks and costs. This activity requires collaboration across the company’s various divisions. How Does Strategic Sourcing Work? Organsations create the best strategic sourcing model for their business based on what is provided, …

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Strategic Sourcing

What Is Strategic Sourcing? – Definition

What Is Strategic Sourcing? – Definition An organization can take advantage of its consolidated purchasing power and use that to find the best value in the marketplace as well as align its purchasing strategy to meet the business goals of the organization by using strategic sourcing, an approach to supply chain management that formalizes the way information is gathered and used.  In the context of digital transformation, procurement and supply chain processes are evolving as a result of strategic sourcing, and …

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Source to pay

What Is Source-To-Pay (S2P)? Source-To-Pay Vs Procure-To-Pay

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 and organizations to create a …

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RFI (request for information)

RFI (Request For Information) Definition

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 the first and most fundamental …

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RFP Process

RFP Process – Step-By-Step Guide

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 point, we’ll discuss the different …

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esourcing software benefits

How Can A Company Utilise eSourcing Software?

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, e-sourcing software allows procurement departments …

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RFX Process

What is RFX In Procurement? Understanding RFP’s, RFQ’s & RFI’s

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 time. Some people are inclined …

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etendering

What Is eTendering?

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 be completed end-to-end on an …

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strategic sourcing process

The Ultimate 7 Step Guide To Strategic Sourcing

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 Sourcing? A strategic sourcing process is a …

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esourcing

How does eSourcing work?

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 and effort. In the end, …

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oboloo

What is oboloo and How can Its Software Help Me?

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 addition, oboloo encourages SMEs to …

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esourcing benefits

What is eSourcing and Its Benefits?

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 cost of the purchase. At …

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sourcing

Simple Tips For Sourcing Goods & Services

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 can use processes in place …

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Sourcing Process

A Simple Sourcing Process For Small & Medium Businesses (SMEs)

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 it’s something everyone does during …

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RFP Software

Why Does a Company Need a RFP Software?

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 be automated, however the best …

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eSouricng steps

What are the Steps of eSourcing?

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 into the process varies depending …

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RFI Process

A Proven RFI Process For Any Company

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 a more formal tender process …

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store-icon

Why use an eSourcing software?

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 business. This is where …

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etendering

A Proven RFP Process For Any Company

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 consist of a list of …

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Supplier management system 2

What is eSourcing?

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 a digital procurement platform such …

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eprocurement process

What Is e-Sourcing & How Does It Work?

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 best suits your organisation’s requirements …

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oboloo modules

eProcurement is More Than Just eSourcing

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 manage your supplier relationships and …

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Contract management software

4 Ways To Improve Your RFP Process To Strengthen Your Business

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 is changing as small and …

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etendering

4 Reasons To Utilise E-Tendering In Your Business

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 it. If you want to …

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Procurement Process oboloo

How E-Sourcing Software Helps Streamline Your Procurement Process

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 billion by 2026, making it …

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eSourcing software

Four Reasons Why An Platform Is A Good Investment

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 cloud-based sourcing system to collect …

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Software oboloo blog

4 Steps For Selecting The Right Software For Your Business

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 your needs might take a lot …

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procurement purchasing software

How E-Tendering Is Helping the Public Sector As Well As Business

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 countries, it has been a …

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oboloo supplier blog 1

How Can You Use E-Sourcing to Improve Your Company’s Procurement Strategy?

How Can You Use E-Sourcing to Improve Your Company’s Procurement Strategy? What is E-sourcing? E-sourcing takes the method of sourcing up a notch by undertaking all the steps involved in a single centralized online location. E-sourcing employs the use of a virtual platform for screening suppliers and connecting different companies, regardless of location constraints.  E-sourcing platforms outline spend-analysis options, creating …

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