Contract Negotiation in eProcurement: Essentials to Consider
When it comes to contract negotiations, the most challenging element may be ignoring what you’ve been taught about standard negotiation strategies, tactics, and methods. Contract negotiations should focus on sealing a fair, reasonable, and beneficial deal for both parties, not on who is smarter. This is the definition of a good contract negotiation process, and […]
e-Tendering & Online Procurement: How It Works
In today’s tech-driven world, knowledge is power. Nowadays, businesses cannot survive without having access to reliable e-Tendering and online procurement solutions. Many have been using these systems to source materials and equipment, manage supplier relationships and ensure compliance. Still, many companies are not 100% decided on using these tools because they don’t exactly know what […]
Top 5 Advantages of eTendering
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 […]
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 […]
How Procure-To-Pay Process Flow Works
All businesses require a reliable process for purchase management, spend analysis, cash flow control, and income maximization. To do so, the company needs to go through a series of steps collectively called the procure-to-pay process. It is a multi-step process that includes procurement, order management, and accounts payable. However, many are unsure what a procure-to-process […]
