Insights and strategies for effective sourcing, contract, supplier, and savings management in procurement
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 […]
What is e-Invoicing? How Electronic Invoicing Works Are you familiar with the term ‘e-invoicing’? Also referred to as “electronic invoicing”, this relatively new concept has revolutionised how businesses transact and manage their finances. The process involves an invoice being sent electronically, from one business to another, to facilitate quicker payments and easier reconciliation of business […]
ESG Vs Sustainability: Comparison and Differences And How It Affects Procurement Over the years, sustainability has become an increasingly important part of any company’s operations. In fact, many companies are now leveraging this concept to increase their returns on investments while reducing their risks and becoming resilient during disruptions. Sustainability and ESG (Environmental, Social, and […]
Category Management: What Is It, How Does It Work, And Why Is It Important? Category Management is used to create strong, long-term relationships between companies and their suppliers. It allows retailers to focus on merchandise categories in order to maximize sales potential and profits. Through this approach, both the retailer and supplier are able to […]