Insights and strategies for effective sourcing, contract, supplier, and savings management in procurement
Hard Savings vs Soft Savings—What’s The Difference? One of the key strategies for lean organizations is getting an accurate read on the return on investment (ROI) that their operations are generating. Understanding which activities are generating hard savings and which ones are driving soft savings is a crucial part of this process. In this article, […]
Cost Reduction Strategies in Procurement For companies looking to reduce costs, procurement is often one of the first places they look. Cost reduction during procurement processes can be accomplished through various strategies that range from the short-term to medium and long-term goals. In this blog post, we are going to examine 11 effective cost reduction […]
Everything You Need To Know About Procurement Savings Everyone wants to get more while paying less. Procurement and Finance teams are no different – they’re passionate about cutting costs and creating value for the company. But how do they know what savings to look for, and how do they calculate it? In this article, we’ll […]
Savings Tracking 101 – Comprehensive Guide to Procurement Savings Tracking Savings tracking is at the heart of effective procurement. Achieving and reporting on measurable savings requires a continuous process to monitor, measure, and report on your procurement team’s results By following this guide, you’ll be able to directly monitor the savings that your company realize […]
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 […]
AP Workflow – Best Accounts Payable Practices Accounts Payable automation enables organizations to maximize payment efficiency, reduce costs and increase control over their finances. An efficient AP workflow is a key component of any successful finance department and requires a thorough understanding of AP automation best practices. Making Accounts Payable Easier with AP Workflow The […]