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What to Look for in a Good e-Procurement System?

What to Look for in a Good e-Procurement System?

Over the years, digital technology has given mankind the power to conquer the impossible. It continues to solve man’s greatest challenges, making lives easier. In-fact several businesses thrive on these technological developments and many are gradually gravitating towards digital advancements for its advantages. Discoveries, inventions and innovations always began with a question or a problem…

Managing Suppliers and Availing Cost Reductions

Managing Suppliers and Availing Cost Reductions

An ultimate goal for any business is to make profits that can contribute to the company’s probability of enlarging its scale and impact. To achieve this by delivering its products or services, a business involves an interplay of several parties that are part of its supply chain. The suppliers are one such party of importance….

Procurement Compliance: Control Spend & Increase Gains

Procurement Compliance: Control Spend & Increase Gains

In general, the term “compliance” is thought to be the overlooked devil that disables you from turning a blind eye over a pushy salesperson or forces you to do things, simply because they are on trend. However, in business, the term takes a rather serious tone as it is immediately associated with following rules and…

Coronavirus: What Can It Teach Us About Procurement?

Coronavirus: What Can It Teach Us About Procurement?

The COVID-19 pandemic has affected the way employees worldwide work. With social distancing measures including working from home in place, businesses had to adapt to the new reality of working remotely. Working from home (WFH) prompted businesses to heavily rely on technology further underscoring the need for digitalisation across industries and departments, procurement teams included….

Procurement Documents 101

Procurement Documents 101

The two most basic entities involved in the procurement process is a buyer, the procurement department of a business and a seller, or a vendor. Throughout the procurement process, a lot of communication happens between these two parties all the way from source to pay, as well as internal parties namely users and approvers. To…

This Could Be Why Your Company is Losing Money

This Could Be Why Your Company is Losing Money

Do you know what your company is spending on? This is an essential question for all companies to ask themselves. There are four common ways in which companies can easily leave money on the table which will be explored further on in the article. How companies leave money on the table The concept of “leaving…

Spend Visibility and It’s  Importance

Spend Visibility and It’s Importance

Do you know what your company is spending on? The fact remains that many organizations aren’t aware of their own company’s spendings. Businesses, unfortunately, don’t understand the importance of spend visibility but it actually plays a huge role in the organization. It allows businesses to know how money is being spent, and how to avoid…