The Advantages of Procurement Process Automation
In case you don’t have the time to read the article in its entirety, here’s a quick summary to help you out: Today, procurement goes far beyond just buying goods or
The Advantages of Procurement Process Automation
In case you don’t have the time to read the article in its entirety, here’s a quick summary to help you out: Today, procurement goes far beyond just buying goods or
The SRM Operating System: Building Onboarding, Performance, and Segmentation That Work
Supplier Relationship Management isn’t a once-a-year scorecard exercise. If you’re only reviewing supplier performance during annual assessments, you’re missing the point entirely. SRM functions as an operating system for procurement. It operates
Strategic sourcing is the structured way procurement teams choose suppliers and set contract terms for each spend category, judged on total cost of ownership over several years instead of the lowest
Procure-to-pay (P2P) is the end-to-end cycle a purchasing organization runs from identifying a need through paying the supplier, connecting the procurement function with accounts payable (AP), the finance team that verifies
If suppliers are your job and you are the only person doing it, AI supplier management can sound like one more project there is no time for. The week already fills
A supplier invoice on 2/10 net 30 terms carries a 2% discount that expires on day ten. That 2% is money you already negotiated, and it pays out only if the
Most procurement work is repetitive, high volume and rule bound, which is exactly the work software does well. Deciding which task to automate first is where teams get stuck. The seven
Your last sourcing event probably lived in three places at once: a quote template in Excel, an email thread with the suppliers, and a comparison tab that two people edited without
Fifty percent of procurement executives now use generative AI at least weekly, more than triple the 16% who did in 2023, according to AI at Wharton’s 2024 research. That jump shows
CenterPoint Group, a global leader in group purchasing and strategic procurement solutions, and Prokuria, an innovative artificial intelligence (AI)-driven procurement technology company, today announced the successful completion of their merger. The
Here’s a brief podcast to help you out if you don’t have time to go through the full article: Negotiation used to be about persuasion and instinct. Today, it’s about data,
In case you don’t have time to read the whole article, here is a short video summary: Launching a Request for Proposal (RFP) should not feel like unleashing a storm of
In case you don’t have time to read the whole article, here is a quick video: Every transaction your company conducts has a trail of data. Taking the time to make
Here is a podcast summary of the entire article if you don’t have time to read it in full: Introduction If you’ve ever chased down managers for approvals, lost a PO