Insights and strategies for effective sourcing, contract, supplier, and savings management in procurement
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 […]