Grow with Penny’s Negotiation & Revisions Module

Negotiations are a lengthy process. It includes many people, quite a few approvals & daily dialogue. Negotiation has five phases that include investigation, determining your BATNA, presentation, bargaining, and closure. Procurement Negotiation & Revisions Stages. There are seven stages to the procedure when starting a procurement negotiation. Knowing these seven phases will enable you to […]

E-Sourcing: Challenges & Opportunities

What is the solution to the challenges faced by manual sourcing? Global sourcing professionals face escalating demands and challenges, and this was true even before the pandemic. The source-to-contract process and supplier onboarding have historically been slowed down by siloed systems. Major challenges faced by sourcing professionals: ◦ Supplier consolidation: Sourcing professionals are always stressed […]

Grow up with Category Management

Growing pains are part and parcel of building a business – but done right, category management can alleviate the stress and make growing up fun. When there are just five of you in a small, serviced office, building a business can feel easy. You know what you want, where to get it, and how to […]

Ditch the calculator – Spend Analysis belongs in the board room

Spend Smarter

Spend analysis is about much more than decreasing procurement costs and improving efficiencies – it is integral to making smarter decisions for sustainable growth. There is a habit – particularly amongst small, medium, and fledgling businesses – to leave spending decisions to the grey suits, calculators, and spreadsheets of our friends in finance. Yet when […]

It’s Time to Embrace the Purchase Order

It may not be the sexiest subject on earth but there are very good reasons why businesses should embrace purchase orders to get paid on time, make savings and build efficiencies across the board. Data from UK official public records show that 13% of invoices go completely unpaid every year. Meanwhile, research from American Express […]