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