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 […]
Automated Cost Transformation: A Game Changer for Management Consultancies
Management consultancies have been a strategic tool for businesses seeking cost efficiencies and operational improvements since the late 19th century. However, their significance in the business landscape truly blossomed in the post-World War II period. As the global economy expanded, companies grew larger and more complex, necessitating external expertise in areas like operations, finance, […]
Announcing Our SOC 2 & 3 Attestation: A New Milestone in Security and Trust
At Thinking Machine, safeguarding your data and ensuring the availability of our services are at the heart of everything we do. We are excited to announce that following our SOC 2 Type I & II attestation earlier this year, we are now providing our SOC3 report publicly on our website to reinforce our commitment to […]
The Human Element of Procurement: Building Strong Teams in a Digital Age
The role of procurement has transformed significantly over time. In an era where artificial intelligence, machine learning, and automation are reshaping the business landscape by enhancing efficiency in processes, improving accuracy in findings and helping teams make better decisions for the business, it’s easy to fall into the trap of believing that technology alone can […]
The Value of Regularly Auditing Your Technology Spend: How Internal Audits Can Take You to the Next Level
Technology spend is considered among the most complex and significant areas of expenditure in any organization. Given its intricacies, managing and optimizing this spend necessitates more than just periodic oversight. Regular internal audits of technology spend can play a crucial role in maintaining financial health, identifying cost-saving opportunities, and fostering stronger supplier relationships. In this […]
The Promise of AI in SaaS: What Has Actually Been Delivered?
Artificial Intelligence (AI) has been a hot topic in the Software as a Service (SaaS) industry for several years now. With promises of revolutionizing everything from customer service to business analytics, AI has been marketed as a game-changer for SaaS solutions. However, while the potential of AI is enormous, the reality of what has been […]
Zero-Based Budgeting in IT: A Tool for Radical Cost Optimization?
Regardless of the changing priorities of businesses throughout the years, cost management remains one of the main challenges for procurement professionals. As technology continues to advance and the demand for IT services grows, finding innovative ways to optimize costs has become critical, but procurement professionals often grapple with budget constraints, the need for rapid technological […]
Evolving Roles in Procurement: From Tactical Buyers to Strategic Advisors
In recent years, the role of procurement professionals has undergone a significant transformation. No longer confined to the back office, today’s procurement specialists are at the forefront of strategic decision-making within their organizations. This shift from tactical buyers to strategic advisors marks a pivotal evolution, one that is reshaping how businesses approach procurement and supply […]
Benchmarking in IT Procurement: Challenges and Best Practices for a Competitive Edge in Negotiating with Suppliers
Navigating the procurement landscape in the IT sector presents unique challenges, mostly due to the opaque and highly variable pricing structures that dominate the field. External benchmarking, while valuable, often falls short in IT procurement because many suppliers do not provide standard pricing lists publicly, and even when they do, these lists rarely reflect the […]
How to Navigate the Complex Landscape of Global IT Procurement
As organizations extend their reach across international borders, the complexity of procuring IT resources also multiplies. A complexity that extends to navigating a web of legal frameworks, diverse supplier’s infrastructures, cultural variations, and economic conditions that vary from one country to another. And that’s without mentioning the challenges of managing costs and ensuring timely delivery […]
