Why’s Strategic Sourcing Essential In Procurement?

Why’s Strategic Sourcing Essential In Procurement?

As companies continue to utilize the power of globalization to improve their performance, the importance of sourcing products and services from vendors has become unavoidable. Procurement is also evolving into a more strategic role connected with the firm’s aims and objectives. Furthermore, challenges like financial and political unpredictability, technological disruption, and other factors have made […]

How to Streamline Your Procurement Process

Automating procurement

Automating procurement is a simple way to boost procurement teams’ efficiency. It’s also a significant step toward transforming that role from technical operator to strategic driver. Modernising procurement procedures to take advantage of new technology is a difficult task, but teams can swiftly put together a cutting-edge solution with the right plan in place. Of […]

Optimizing Sourcing Decisions for Your Business

strategic esourcing

Whether you’re a small business or a major corporation, optimizing sourcing decisions is likely to hit the top of your priority list in the near future. Procurement optimization maintains the momentum, keeps your people on the same page, and ultimately saves your business time and money. But, if you’re completely new to this, it may […]

5 Practical Ways to Create a Successful Procurement Experience

5 Practical Ways to Create a Successful Procurement Experience

Procurement is not limited to buying goods and services. At its core, a procurement expert’s job is to ensure that operations run with minimum hurdles throughout the year. This involves defining requirements, market analysis, rating vendors, negotiating deals, and controlling risks.  For many, achieving such objectives may be a struggle because they don’t know how […]

Top 5 Advantages of eTendering

procurement and e-tendering

Before using a procurement or e-tendering system as an industry norm, it’s critical to understand the rationale and benefits. You also need to know what the solution is. E-tendering simply consists of procurement and tendering methods and processes that have been moved to an online and/or a cloud-based environment. The advantages of e-tendering reach all […]

Things to Look for in a Procurement Optimization Solution

Aspects of procurement management

A practical procurement optimization solution can help you manage the entire procurement experience with minimum hurdles. However, you cannot find the right solution without knowing what to look for. To help you with that search, we’ve listed some of the must-haves for a reliable procurement optimization solution. Photo by Diggity Marketing on Unsplash Automation This […]

A Guideline to Build a Practical Sourcing Strategy

A Guideline to Build a Practical Sourcing Strategy

As organizations continue to harness the power of globalization to improve their performance, the importance of sourcing goods from vendors has become undeniable. Meanwhile, challenges such as economic and political instability, technological disruption, and other factors have made the market a fiercely competitive environment. As a result, it is critical for businesses to develop a […]

Penny Software launches its B2B sourcing marketplace in Saudi Arabia to facilitate access to hundreds of thousands of products

“Souq Penny” will contribute in spending efficiency and facilitating access to suppliers and products “Souq Penny” includes hundreds of major manufacturers and suppliers offering hundreds of thousands of wide-selection of products   Riyadh, 18th of April 2022: Penny. Software, the leading procurement and sourcing management platform for enterprises, announced the launch of its latest technology […]

Transitioning to a Cloud-based Procurement System: How to Prepare Your Business

cloud based procurement

The days of misplaced invoices and erroneous receipts are finally over. New technologies have brought in a new era of procurement, one that is cloud-based. There are numerous reasons why switching to cloud-based procurement is advantageous to your company. You surely have read article after article about the benefits of cloud-based procurement for businesses. But, […]