Supplier Relationship Management: How Effective Management Can Improve Internal Operations, Reduce Risks & Costs for Your Organization
Having an effective supplier relationship management (SRM) is critical to the success of any procurement organization. In its simplest form, SRM is the art and science of creating a sweet harmony with your suppliers. It’s about ensuring that they’re not just providing you with goods and services, but actually adding value to your business and […]
The rise of the digital supply chain: How the digitalization of the supply chain is driving greater efficiency, transparency, and collaboration across the procurement process
Today we’re delving into the heart of a revolution that’s shaking up procurement processes all around the globe: the digital supply chain. The digitalization of the supply chain is transforming procurement, driving greater efficiency, transparency, and collaboration across the procurement process. In this article, we’ll better understand how the rise of the digital supply chain […]
The Benefits of Cloud-Based Procurement Solutions and why it’s becoming companies’ top software of choice
Today, we’re diving into something that’s revolutionizing the procurement world as we know it: cloud-based procurement solutions. Now, we know “cloud-based” might sound like a lot of tech jargon, but it’s pretty straightforward and incredibly impactful. So, buckle up as we explore in this article why these cloud-solutions are becoming a hot topic and an […]
How to Pick Your Perfect Procurement Software: Your Easy-Peasy Guide to Nailing the Best Fit for Your Business
Here’s the deal: procurement software is like your trusty sidekick in business. It can take the headache out of the procurement process, boost efficiency, and save you loads of money. But when you’re spoilt for choice with a buffet of procurement software options, it’s natural to question: how do you choose your perfect match? Don’t […]
The Role of Automation in Procurement: Letting Tech do the Heavy Lifting to Free Up Resources for More Strategic Activities
Procurement is a backbone function for any business. Its main goal is to ensure that the business has all the goods, services, and works it needs to operate effectively and efficiently, while also managing costs and supplier relationships, playing a vital role in a company’s operations, financial performance and risk management strategy. Because of that, […]
Trends to watch in procurement technology: An overview of the latest developments in procurement technology
Procurement technology has come a long way in recent years, with new developments emerging all the time. From artificial intelligence (AI) to blockchain, businesses have a range of procurement technology options available to them. In this article, we’ll provide an overview of the latest trends in procurement technology and what they mean for businesses looking […]
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 […]
How SaaS is Changing the Procurement Industry
The procurement industry has traditionally been slow to embrace new technologies, but that’s starting to change as more businesses turn to software-as-a-service (SaaS) solutions to optimize their procurement processes. SaaS is transforming the procurement industry by offering a range of benefits, but it also presents some challenges that businesses need to be aware of. In […]
Interview with Our CEO at Procuretech Founder’s Circle Event
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The Skills GAP in Procurement – The Ultimate Challenge
Procurement has evolved beyond just purchasing goods and services at a low cost. Nowadays, organizations focus on buying skills, software, and processes that lead to collaboration, innovation, and value creation. To succeed in this environment, procurement teams must possess social skills like communication, stakeholder management, and leadership. However, many organizations struggle to find and prepare […]
