Predictive Analytics and its Impact on the Procurement Function
There is a seismic shift happening in the procurement landscape currently, and that’s largely resulting from the integration of predictive analytics into the function. Companies are adopting more data-driven approaches to increased efficiency and cost savings, so knowing how to interpret data you already own is becoming a key driver of strategic value. Because of […]
Predictive Analytics in IT: Forecasting Future Costs & Needs
One of the critical tools empowering organizations to anticipate future challenges and opportunities is predictive analytics. This advanced analytical technique uses historical data, statistical algorithms, and machine learning to identify the likelihood of future outcomes, providing IT departments with a telescopic view into their operational future, particularly concerning costs and resource requirements. And, let’s be […]
The Importance of Data Analytics in Procurement: Are you leveraging your data for the best results?
Data analytics has become a critical tool for businesses across a wide range of industries, and procurement is no exception. By leveraging data analytics, procurement professionals can gain insights into their spending patterns, identify potential cost savings opportunities, and make more informed procurement decisions. In this article, we’ll go over the importance of data analytics […]
A Complete Guide to Procurement Analytics
Resilient supply chains and processes are more critical than ever. But how can your procurement department put this into practice? One of the best ways to improve processes is to invest in the power of data with procurement analytics. Many chief procurement officers (CPOs) do not have the technology to leverage data. A study found […]
What Is Procurement Transformation?
In the wrong hands, procurement can be a static system that simply serves to facilitate the obtaining of resources. Undergoing procurement transformation is the key to bolstering your savings. Savings gained with new contacts, relationships, and value. Every serious operator recognizes the value of procurement transformation. From the biggest businesses to banks all across the […]
Why You Need Spend Management Analytics in Digital Procurement
How do you reduce procurement costs, improve efficiency, and track and control workflows? The answer: Spend management Over the years, spend management has evolved into a continuous, comprehensive approach. This goes a long way to keeping your business in check and improving your bottom line. Since Covid-19 first emerged, procurement organizations have faced a barrage […]
Category Management Analytics drives Business Digital Transformation
Imagine this: your team has found itself over budget after a challenging year of technology migrations and changing suppliers. You and your team need to find where the problems lie but no-one has enough spending analytics associated to your contract lifecycle management to fully understand the actual services being delivered within your technology and telecom […]
How to Optimize Telecom Cost Recovery
Many businesses are turned away from undertaking a telecom audit and seeking cost savings in their more difficult and complex contracts due to the costs and prohibitive factors involved associated to traditional audit processes. Complex contracts, like those in the telecom industry, cover hundreds of different products that can be configured in multiple ways. With […]
