Mastering Procurement Data: Benefits of Training Your Team in Analytics and Taxonomies

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Earlier this year we published on this blog the first article of our Mastering Procurement Data series, where we share the process to achieve complete excellence in your procurement function. The first article of the series entitled “Mastering Procurement Data – The Power of a Unified Source of Record” talked about the importance of creating […]

Mastering Procurement Data: The Power of a Unified Source of Record

The role of a Procurement Director is fraught with challenges. According to research conducted by the job search platform Zippia[1], Procurement Directors maintain their positions for an average of only 1 to 2 years, with over 60% leaving before reaching their fourth year. This high turnover rate clearly shows the significant challenges inherent in the […]

How to Optimize Your Technology Spend in 2024

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With technology playing a central role in modern businesses and being so integral to their operational success, organizations are increasingly seeking ways to streamline technology expenditures while enhancing efficiency and service quality.   This article explores effective methods of optimizing technology costs, the role of automation in facilitating these strategies, and the value of an […]

Cognitive Procurement – Leveraging Machine Learning for Smarter Purchasing

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I think it’s safe to say that digital transformation made substantial changes to how we approach procurement. Procurement is no longer just about cost savings and supply chain efficiency; it’s about strategic value and data-driven decision-making. Cognitive procurement, at the intersection of AI and procurement, is reshaping the way businesses approach their purchasing processes, moving […]

Why Vendor Management is Essential for IT Cost Savings

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The rapid advancements in the Information Technology (IT) sector have brought forth a myriad of solutions that organizations can leverage. However, managing costs effectively remains a tough challenge to beat.   In this environment, effective Vendor Management emerges as an indispensable tool for ensuring significant IT cost savings. This article illuminates the vital role Vendor […]

Building a Culture of Continuous Improvement in IT

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In the dynamic realm of Information Technology (IT), stagnation is not an option. The IT landscape is perpetually evolving, driven by relentless innovation and rapid technological advancements.   To maintain a competitive edge, organizations are recognizing the necessity of instilling a culture of continuous improvement—a commitment to perpetually assess, iterate, and enhance their IT processes, […]

Predictive Analytics in IT: Forecasting Future Costs & Needs

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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 […]

IT Governance: Ensuring Quality While Reducing Costs

In today’s rapidly evolving digital landscape, IT Governance is emerging as a crucial lighthouse, helping organizations navigate through the intricate pathways of ensuring unparalleled quality while monitoring costs. It meticulously oversees and bolsters the operational efficiency and robustness of an organization’s IT arm. So how does IT Governance help with that? If done well, governance […]

Tail Spend in Procurement: What is it and Why Should You Care

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In the intricate landscape of procurement, it is common to fall prey to sneaky non-strategic expenses —usually known as ‘tail spend‘—which can quietly nibble away at a company’s finances. These minor yet cumulative costs often evade the attentive gaze of procurement and finance professionals, resulting in unseen financial leakage and missed savings opportunities.   Characterized […]


TMS is an AI company that creates cost savings from Telecom expenses.


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