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
“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 […]
The Future of Procurement in the Food Industry
The traditional procurement process in the restaurant sector “Procurement in food industry” has traditionally been a painstaking, paper-based, time-consuming, boring routine that involved knowledgeable buyers, capable sellers, and a precise set of inventory and audit procedures. Simply put, restaurants must manage their purchasing processes to keep prices down while increasing output. An inefficient purchasing process […]
Transitioning to a Cloud-based Procurement System: How to Prepare Your Business
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, […]
E-Procurement in the Textile Industry: How it Can Help
It’s not unusual to buy a T-shirt in the United States only to find out it was created in Malaysia, Vietnam, or another faraway country. It was a difficult task in and of itself to get that item of clothing to the North American market. Furthermore, obtaining the materials required to create the product was […]
Can E-Procurement Help Small Businesses Thrive?
The golden rule of survival in any kind of business is to reduce costs and streamline the operation cycle. Hence, many business leaders are utilizing various forms of technology to achieve this objective. One of these tools is e-procurement, becoming quite popular in recent years. Despite its widespread adoption, some are unsure of how e-procurement […]
Top Five Benefits Of E-Procurement & Cloud-Based Computing
In the past, companies had to download & install several programs on a physical server or computer to handle procurement and data management. But now, e-procurement solutions have seamlessly integrated all the siloed data, and cloud computing allows people to access unlimited sources of information through the internet. In fact, it’s impossible to list all […]
Connection Between mid-market Companies and E-Procurement
All companies regularly deal with procurement, but not on the same level. A large international business needs to manage global purchases, meaning its procurement budget and strategy are tailored to meet that need. But, a mid-market company doesn’t need the same level of service provision to the customer. That’s why e-procurement has become such a popular […]
Top Essential Capabilities for Cloud-Based Procurement System
Procurement plays a vital role in every step of the operation cycle. Without a reliable procurement solution, a business may lose control and compromise its relationship with buyers and suppliers. Moreover, all companies need to keep up with the constant demand changes in the market. That’s why so many have shifted towards using cloud-based procurement […]
