7 Procurement workflows you must automate today for maximum efficiency
Procurement workflows play a vital role in business success. It ensures that organizations acquire the goods and services they need to operate effectively while managing costs, supplier relationships, and compliance. However, procurement processes can often become inefficient, slowed down by manual workflows, outdated systems, and a lack of visibility. According to Deloitte’s 2023 Global Chief […]
The Procurement Revolution: From S2C to S2P Explained
Procurement, the cornerstone of modern business operations, orchestrates the sourcing, acquiring, and managing of goods and services vital for organizational success. This domain, categorized into Upstream (Source to Contract) and Downstream (Procure to Pay) processes, has evolved significantly from its origins. The journey from transactional to strategic procurement is marked by pivotal moments in history, […]
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 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 […]
Procurement Terminology – Unpacked and Explained (and how to survive in the digital economy)
When you’re grappling with the nitty-gritty of growing a business, the seemingly endless emergence of new procurement terminologies and buzzwords, collectively referred to as Procurement Terminology, can easily pass us by. The problem is that every business needs to adapt to the realities of digital transformation if they wish to realize the vast benefits of […]
Why Real Estate Needs E-procurement
Despite all the talk about e-procurement and its benefits, many real estate businesses are somewhat reluctant to adopt e-procurement solutions. Fear over a lack of accuracy in due diligence, added costs, and complexities in deals are just some factors that prevent the widespread adoption of e-procurement in the real estate industry. However, reality paints a […]
What Is The Impact of an E-Marketplace on Procurement Processes
The capacity to stay cost-effective while also growing an enterprise is a significant challenge that businesses encounter on a daily basis. Companies are witnessing a number of shifts in how existing and new consumers choose to purchase the software. When it comes to business software, most firms no longer follow the conventional annual procurement cycle, […]
Hospitality Procurement: Top 5 Common Problems
Procurement is vital in the hospitality industry. Its purpose is not just to effectively supply the company but also to create value through superior quality goods and services. Hospitality businesses, like all companies that acquire products and services in the modern economy, require proven, cost-effective solutions to their problems. In this article, we’ve listed the […]
What is The Role of Procurement in Hospitality?
It’s hard to overstate the importance of procurement in hospitality businesses. Hospitality procurement is mainly related to the purchase of goods and services for restaurants, resorts, and hotels. This industry has particularly unique requirements that are not common in other industries. There are four main aspects to businesses in this industry: Buying goods and services, […]
