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 Overuse GAP in Procurement – More is not Always Merrier
The digital transformation of businesses has brought about many advantages, from increased efficiency to improved performance. However, there are also downsides to this rapid technological change. In the interest of keeping up with market technological needs, companies often purchase too many apps for employee use (some of them essentially having the same purpose) causing employees […]
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 […]
The Training GAP in Procurement and How to Fix It
The importance of staff training for new technology In today’s fast-paced and constantly evolving business landscape, technology is crucial to the success of any organization. New software and tools are being developed and released every day, promising to streamline operations, increase productivity, and provide better customer experiences. However, the reality is that many companies invest […]
Cost Optimization Solutions – How do They Work?
You’re probably expecting an answer that involves AI, Machine Learning, <insert fancy tech here>. Well, yes. But instead of “sprinkle fairy dust, magic happens”, we have a more comprehensive breakdown of the capabilities involved in this article. Cost optimization solutions are becoming increasingly popular as companies look to reduce expenses and improve their processes to […]
The Benefits of Process Automation and How to Achieve It
Automation has become a buzzword in the world of business, and for good reason. The term was already familiar as far 1946, used in the automobile industry at the time to describe the increase use of automatic devices and controls in mechanized production lines. Manufacturing industries started using automatic devices and robotic machines at the […]
How Data Insights Can Optimize your Organization’s IT Services
As businesses continue to rely on technology to drive their operations, optimizing and managing IT services (one of the largest areas of IT spend for most organizations) has become increasingly important. One of the most effective ways to achieve this is by leveraging data insights. In this article, we will explore how businesses can use […]
3 Simple Ways to Manage the Contract Life Cycle of Your IT Professional Services
A critical part of an IT project manager’s role is ensuring they can manage the contract life cycle of IT Professional Services under its supervision. Once the Master Agreement has been signed (sometimes with little to no negotiation due to sensitive timelines of projects), dozens of ancillary contracts – from statement of works to SLAs […]
