Insights and strategies for effective sourcing, contract, supplier, and savings management in procurement
What is Blockchain? Blockchain technology is the concept or protocol behind the running of blockchain and cryptocurrencies. Blockchain technology makes cryptocurrencies like Bitcoin work just as the internet makes email possible. Blockchain is based on two fundamental properties. It’s an immutable (unchangeable, i.e. a transaction or file recorded cannot be changed) distributed digital ledger (digital record of transactions […]
oboloo Joins Tech Zero oboloo has joined Tech Zero, a group of tech companies who are joining forces to accelerate progress to net zero, support tech companies in making a climate action plan and use tech to help the customers they serve live more sustainably. Tech Zero is led by Bulb and industry body Tech Nation, […]
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 […]
What is Three-way Matching? To eliminate fraud, save money, and maintain adequate records for auditing, three-way matching involves matching purchase orders (POs), goods receipt notes, and supplier invoices. In most cases, payment is issued to the supplier after a 3-way match has been made. Verification of invoices through three-way matching involves examining relevant documents proving that: In […]
What is Procurement Management? The procurement management function makes sure that all the processes involved in a business’s acquisition of products, materials, goods, and services run smoothly. Depending on the business and industry, purchasing, procurement, and sourcing may be used interchangeably. Purchasing and procurement provide the actual operational function whereas sourcing is considered the strategic function. […]
Tips For Sourcing Goods & Services The sourcing of goods and service is the one part of procurement process that every company does to ensure they get best value from suppliers and also work with the right suppliers whose values align with their own. Companies either do sourcing activities without following a formal process or they […]