What’s An E-Procurement Service Provider?

procurement service provider

Most procurement teams are currently fighting to keep up with rising market volatility and maintain a competitive advantage. However, the majority of businesses are still utilizing older, legacy ERP systems, which are falling behind the competition. On the other hand, e-procurement service providers on the market help companies across various industries meet their policy requirements, […]

Top 5 Trends in eProcurement in 2022

eProcurement trends 2022

The last few years have been difficult for everyone, including those in the procurement industry. Despite dealing with a wide range of unexpected problems, such as remote working demands, everyone is beginning to find their way back and recover from the crisis caused by COVID-19. So, what procurement trends are we likely to see in […]

5 Most Common Procurement Mistakes & Ways to Avoid Them

5 Most Common Procurement Mistakes & Ways to Avoid Them

Common procurement mistakes can quickly escalate into procurement nightmares. Operating with an ineffective system will result in too many joint procurement and purchase issues. Fortunately, the most typical procurement mistakes have clear and simple fixes. We’ve listed five of those procurement mistakes in this article and shown you how to avoid them. Photo by Kenny […]

AI & Procurement Performance: The Connection

AI & Procurement Performance

Artificial intelligence is a proper performance driver that is already being employed in a variety of businesses and industries, but it still has a lot of room for growth. As we move forward, the potential for AI technologies is becoming clearer in procurement, and it is affecting every cycle from information processing to service quality. […]

Why Technology is Vital For Procurement?

why procurement needs technology

Regardless of the size of the company, procurement is a critical component. The procurement process involves coordinating vendors, documents, and finances, among other things. The entire procedure may appear simple, but it is not. It’s a complicated procedure with plenty of opportunities for inefficiencies to arise. Technology and automation can make handling the purchase process […]

How Efficient Cloud-Based Procurement Systems Improve Buyer-Seller Relationships

Some people believe that capital is everything for starting a business. But, in reality, that’s only one of the key ingredients because companies aren’t truly tested until they go operational. As you already know, hardly any business can find solid ground and achieve new heights without a good buyer-seller relationship. Without a good relationship between […]

Penny Software raises $5M in Seed Round Amid Global Expansion

Procurement software

A B2B platform with a mission to digitize procurement globally.  Riyadh, Saudi Arabia. Jan 17th, 2022: Penny Software, the procurement enterprise software company raised $5M in a seed round led by Outliers Venture Capital, and with participation from Shorooq Partners, Hambro Perks ORYX Fund, Wamda, Class 5 Global, and strategic angel investors. Penny was founded […]

Data & Analytics, Cores of a Cloud-Based Procurement System

Procurement software

Procurement departments can access, manage, and sort through a wealth of essential data in their day-to-day operations. Still, not many can capture all this information, let alone make it into something meaningful. Unlike traditional procurement systems, data is a key to survival in the modern market. Today, businesses utilize a data-driven procurement system to solve […]

Efficient Cloud-Based Procurement Platform

efficient cloud based procurement

With the incredible pace of advancements in today’s market, businesses have no choice but to incorporate automated solutions into multiple areas of their operation. One of these areas is procurement management, which involves evaluating, selecting, and managing contracts and supplier relationships. While some businesses have embraced a cloud-based solution to their procurement management problem, others […]