Insights and strategies for effective sourcing, contract, supplier, and savings management in procurement
What is ESG (Environmental, Social and Governance)? ‘Environmental, Social and Governance’, or ‘ESG‘ as its more commonly referred to, is having an increasingly important influence on how companies operate. Originally used as a way of differentiating the value that companies deliver beyond just financial returns it has grown as companies and investors have become more […]
We All Follow A Procurement Cycle We all make personal purchases of goods and services throughout our lives. First, we identify exactly what we wish to purchase and we then, often subconsciously, consider what’s going to deliver best value for us, this might be based on cost, or quality or something totally different. Once we’ve done this, we’ll […]
Can Procurement Software Save You Time? Companies are increasingly investing in digital solutions to drive efficiencies and financial savings across every area in their business. One area that these solutions deliver significant financial savings is in procurement with the solutions often recording projected and realised savings delivered by both cost reduction and cost avoidance measured against actual baseline […]
How To Easily Increase Profitability by Managing Third-Party Spend Every company wants to increase its profitability. To achieve this most companies, invest in marketing and sales to generate turnover that leads to increased profitability. There is another way to increase profitability and that is to manage third-party supplier spend. By actively managing this spend companies not only […]
Are You Working With Compliant Suppliers? Every company is obliged to comply with laws and regulations. The amount of compliance varies by country, industry and size of company, with some industries such as banking more highly regulated than others. An example of a law is the Data Protection Act 2018 that every company must comply with. To become […]
What are the Key Dates In Supplier Contracts? Too often supplier contracts are signed and then filed away in either a desk drawer or shared drive with little or no management of the contract, except when there is an issue. The supplier delivers the goods or service and the invoices are paid until eventually a new contract is negotiated […]