Forward-thinking CPOs and CSCOs are now considering their strategies for the future as supply chain pressures ease, inflation declines, and interest rates begin to level off. How can they harness the potential of AI and data? What steps can they take to champion sustainable practices? How can they effectively balance costs and opportunities?
April 19, 2024 | Procurement Software
Data is king in today's fast-paced business environment,
The ability to effectively manage and leverage data can mean the difference between success and failure for enterprises. And one critical area where data management is paramount is procurement.
By doing procurement data management better with the help of tools like AI-powered procurement software , enterprises can improve their ability to control costs, manage risk, improve sustainability and competitive advantage, and make better decisions.
EP SOFTWARE™ leads the way in the ISG Provider Lens™ Procurement Software Platforms 2024 report for four years running.
April 04, 2024 | Accounts Payable
Discover how to make procurement and supplier payments more efficient and cost-effective through embedded payments. Explore GEP and Mastercard's virtual card solution for payments.
The “year of efficiency” that began in Big Technology last year has spread like wildfire to all other industries and CFOs are looking to their counterparts in procurement to deliver this year.
For the CPO, this means driving efficiencies across the source-to-pay (S2P) process and maximizing financial gains while improving overall performance. The clearest, most direct way to achieve these goals is to take a tech-forward approach to operations, including sourcing, supplier management, invoicing and B2B payments.
March 28, 2024 | Procurement Software
Making the most of data is essential if enterprises are to thrive in today’s environment. But the power of data goes beyond just plain numbers and analytics. For enterprises to truly stay ahead of the curve, they have to take full advantage of data-driven innovation.
Particularly for supply chain and procurement leaders, the data available at their fingertips can be a goldmine, offering unprecedented opportunities to optimize efficiency, mitigate risks and enhance decision-making capabilities.
There is, however, a caveat.
March 22, 2024 | Procurement Software
Procurement leaders are embracing technology to revolutionize their function, with visions of streamlined processes, data-driven insights and cost savings dancing through their heads.
Yet, translating that vision into reality hinges on one critical factor: execution.
Execution is about more than deployment; it’s about how you drive your customer’s success.
This blog explores three pillars of effective execution that ensure your procurement transformation project delivers lasting value.
March 22, 2024 | Contract Management
Creating a contract agreement with a vendor and implementing the contract are two different things. This is the hard reality many enterprises have realized.
Contracts are hard fought and negotiated, created, filed and, sadly many a times, forgotten. This means that all the hard work done by procurement in negotiating favorable contract pricing and terms with vendors goes to waste.
March 11, 2024 | Supply Chain Software
Delivering products and services to customers efficiently and cost-effectively remains the primary mission of procurement and supply chain leaders, even as they navigate an unpredictable economy, severe weather, geopolitical conflicts and supply chain challenges.
But these objectives can be achieved thanks to leaders finding advanced technologies that fuel digital supply chain transformation and modernization.
In Spend Matters' most recent assessment, GEP Software has achieved the top scores in 12 essential categories in the Spend Matters Spring 2024 SolutionMap. Go through this report to know about the assessment in detail.
