Invoice & Contract Software: The Power Duo for Smarter Procurement
February 27, 2025 | Procurement Strategy
Is your procurement process costing you time, money, and opportunities? For many organizations, the answer is yes.
Procurement leaders are under constant pressure to enhance efficiency, ensure compliance, and control costs. Yet, a surprising number of businesses still manage contracts and invoices as separate processes. This disconnect leads to payment delays, compliance risks, and missed savings—turning what should be a strategic function into a reactive one.
What Your Procurement Team Is Missing in Supplier Risk Management
February 26, 2025 | Procurement Strategy
How does your procurement team identify supplier risks? Does it have a standardized process in place to understand the risks associated with different suppliers? Does it look beyond tier 1 suppliers in this process?
In many ways, the success of a business today depends on how effectively it can identify (and mitigate) supplier risks. Geopolitical conflicts, trade and tariff wars, extreme weather and growing uncertainty have led businesses and their procurement teams to shift their focus toward supplier risk management.
Are You Truly Maximizing Your IT Procurement Services for the Digital Enterprise?
February 25, 2025 | Procurement Strategy
We know that IT procurement has evolved from a back-office function into a strategic enabler of digital transformation. Global IT spending is projected to reach $5.74 trillion in 2025, yet inefficient procurement processes still cost organizations millions in delays, security risks, and lost opportunities.
From Reactive to Proactive: How Predictive Analytics Can Be a Game-Changer for Procurement in 2025
February 25, 2025 | Procurement Strategy
As procurement leaders, you may have already deployed AI and predictive analytics to automate routine processes, streamline operations, and optimize costs. The real question now is: how do you go beyond foundational solutions to unlock exponential strategic value in 2025 and beyond?
To maintain competitive advantage, forward-thinking leaders must harness advanced AI capabilities to transform procurement from a reactive function to a proactive force driving business growth, resilience, and innovation.
Purchase Order vs. Sales Order: The Hidden Opportunities You Might Be Missing
February 17, 2025 | Purchasing
If you’re a seasoned supply chain or procurement professional, you’ve probably dealt with purchase orders (POs) and sales orders (SOs) countless times. But here’s the real question: Are you fully leveraging these documents to drive strategic value beyond the basics?
Let’s move beyond definitions and explore how POs and SOs can become tools for competitive advantage, risk mitigation, and innovation in your supply chain.
How AI and Automation Can Simplify Procurement Evaluation
February 17, 2025 | Procurement Strategy
How does your procurement team conduct evaluations? Does the team leverage technology in this process?
Procurement is no longer just about selecting suppliers—it’s a strategic function that drives business growth, mitigates risks, and fosters innovation. Yet many evaluation processes remain outdated, focusing narrowly on cost or compliance. To thrive in a competitive landscape, businesses need advanced techniques and smarter tools that deliver sustainable value.
How Managed Services Supercharge Retail Supply Chains
February 13, 2025 | Procurement Strategy
In the retail world, it's a constant battle to stay ahead of the curve. Supply chains are more complex than ever, global disruptions (tariffs, anyone?) are becoming the new normal and consumer demands change at lightning speed.
Case in point: more than two thirds of online retailers have seen consumer satisfaction decline in the last year, according to the recently released American Customer Satisfaction Index.
7 KPIs to Effectively Monitor Accounts Payable Performance
February 12, 2025 | Accounts Payable
Your accounts payable team performs routine back-end operations. It receives invoices and cross-checks them against purchase orders and good receipts. It then seeks the necessary approvals and processes the payment.
But is this all that accounts payable teams have to do?
Do you know how long it takes for the team to process each invoice? And what is the associated cost? Which part of the process takes the maximum time? How can this time be reduced?
How Circular Procurement Drives Business Growth and Innovation
February 11, 2025 | Procurement Strategy
How do you plan to thrive in an increasingly competitive business environment? What’s your strategy to stay compliant as well as ahead of competition?
One of the ways is to invest in circular procurement.
7 Effective Ways to Streamline Hospitality Procurement
February 07, 2025 | Procurement Strategy
While the hospitality industry suffered as a result of the pandemic and subsequent restrictions and economic uncertainties, it has since bounced back, seeing a compound annual growth rate of 7.0%, according to EHL Insights.