News and Content for Procurement Professionals

Teaching

Employee Spotlight: Andreas Ståleson Landstad, Group Product Manager

New surfer on board at Ignite Procurement

How to Tame the Tail Spend Beast

The concept of tail spend analytics is widely acknowledged but seldom optimized by the procurement departments. As for most organizations, tail spend management is an uphill battle. This article will spotlight tail spend and how the right mix of advanced analytics and technology can help you tame the beast.

The Team Ignite Welcomes Its New Members

At Ignite, we believe in creating a dynamic team of enthusiastic and talented individuals. In this innovation, success, and growth journey, we are excited to welcome two new members to our team.

The New Darwinism of Procurement: Turn Strategic or Disappear

2020 has been a year that has made companies across the world completely rethink the way they do procurement. As opposed to the common belief that the pandemic has made the environment more challenging, in reality it has made the need for procurement transformation all the more critical.

How Artificial Intelligence Can Clean and Enrich Your Spend Data

The procurement industry is undergoing a rapid transformation. Once considered a laggard in the race to digital, the industry is evolving into a strategic function that is driven entirely by data and insights. While data is crucial to driving these transformations, bad, unorganized, or dirty data is considered no lesser than a bane for the procurement industry.

New Partnership Announcement: Ignite Procurement and Lexolve

Ignite Procurement joins hands with Lexolve to bring document automation to its users.

New Partnership Announcement: Ignite Procurement and Amc Group

Ignite Procurement and Amc Group establish partnership to further drive procurement innovation in the DACH region.

Announcing Ignite Procurement’s Completion of NOK 30 Million Funding Raise

We are delighted to announce our latest NOK 30 million funding raise. This is a great moment not only for us, our partners, and investors but for our customers who have trusted us in this growth journey.

Three New Faces Onboard at Ignite Procurement

This spring, we added three new and talented team members to our fast-growing organization. Ignite Procurement is delighted to welcome our new team members and wish them well in their careers with us.

Massive Procurement Potential Within the Aquaculture Industry

In a recent bachelor thesis, Ingeborg Bakke and Kristina Ulla highlight an untapped potential within strategic procurement across Norway's aquaculture sector.

Taking Control of Maverick Spend

As maverick spending, or rogue buying, can account for up to 80% of a company's total spend, the inherent savings potential is often substantial. We have shared five steps to help you to get control of your maverick spend.

Six Practical Steps to Realize Savings Through Bundling

Bundling is a vital procurement lever to help drive cost reductions across your organization. Follow these six steps to succeed and maximize savings during the process.

Say Hello to Our Newest Team Members

Ignite Procurement continues its rapid growth and has hired new, exceptional talents to the team. Please give a warm welcome to the latest team Ignite additions.

How to Identify Savings Opportunities: Transaction Costs

Procurement teams continuously focus on minimizing transaction costs and costs related to the purchase-to-pay (P2P) process. Although the trend is moving towards automated and self-guided P2P processes, there still might be some opportunities to explore.

How to Identify Savings Opportunities: Maverick Spending

Maverick spending is probably a well-known problem for most organizations and procurement professionals. Let us look at how you can utilize procurement analytics to identify such challenges.

Consulting Partnership with Level Group Brazil

Level Group Brazil and Ignite Procurement are pleased to announce they have entered into a partnership agreement, combining Level Group's procurement and consultancy experience with Ignite Procurement's leading digital solution for spend management.

4 Procurement Challenges That Torment Construction Companies

Many construction companies are still in the stone age when it comes to strategic procurement – despite its massive influence on the business.

Ignite Procurement Enables Moreld to Harvest Group Synergies

We are delighted to welcome Moreld, an international industrial conglomerate owned by HitecVision, as one of our newest customers.

Manufacturing: Solving 4 Major Challenges for Procurement

Manufacturing companies of all types face several unique procurement challenges. With a dated spend management solution (or no solution in place at all!), managing these challenges can be very difficult.

How to Identify Savings Opportunities: Bundling

There are several procurement levers you can utilize to drive cost reductions. Bundling, or consolidating spend, is one of them. But how do you use procurement analytics to identify bundling opportunities?

BI Tools vs. Procurement Analytics Solutions: Pros & Cons

As a spend management solution provider, we often meet procurement teams that are already using or thinking about investing in business intelligence (BI) solutions. But how well do BI tools support their procurement efforts?

Meet Our Newest Team Members

Over the last couple of months, we have been busy recruiting more talented people to join our fantastic team.

How to Identify Savings Opportunities: Renegotiation

Procurement analytics comes in many shapes and forms. Let us take a look at some analyzes that you can use for identifying renegotiation opportunities.

Ignite Procurement a Value Leader in SolutionMap Report

Ignite Procurement is proud to be included in the newest Spend Matters SolutionMap report as the only new vendor in the Spend & Procurement Analytics category.

Firesafe Starts Using Ignite Procurement Across the Group

We are happy to announce that Firesafe, a Scandinavian market leader in fire safety and protection, is one of our newest customers.

Ignite Wins Tender with the Norwegian Environment Agency

The Norwegian Environment Agency, and implicitly all organizations that are part of the Norwegian Ministry of Climate and Environment, has selected Ignite Procurement as their spend management solution going forward.

New and Exciting Product Features Powered by Summer Interns

For the last couple of months, Ignite Procurement has had the privilege of having talented interns working on new and exciting product features.

10 Summer Interns Ready To Rumble

Ignite Procurement is proud to announce that it is moving ahead with its annual internship program and has hired top students from recognized Norwegian and international universities.

Hexagon Starts Using Our Spend Management Solution 🤝

We are delighted and proud to announce that Hexagon Composites, a global leader in clean energy solutions, is one of our newest customers.

Ignite Procurement Wins Finansavisen VEXT 2020!

We are thrilled to announce that Ignite Procurement has won the award for Norway's VEXT (growth) Company 2020.

Meet Our Customer Success Manager, Mosaira

With procurement experience from large, global companies, Mosaira ensures that customers achieve success with our spend management solution.

Get to Know Our Marketing Director, Frank Willie Bødal

Frank was the first full-time employee to join Ignite Procurement besides the two founders, and is part of the management team.

Strategic Partnership With Mintec

Mintec and Ignite Procurement are pleased to announce they have entered into a strategic partnership, combining the award-winning Mintec price data with Ignite Procurement's leading digital solution for spend management.

Meet One of Our Software Engineers, Andreas Moldskred

Andreas is 19 years old, born and raised in Oslo. Despite his young age, he is an integral part of Ignite Procurement’s tech team.

How Can Procurement Professionals Succeed With Cost Savings

In this article, we look at five steps to identify and prioritize cost-saving measures that increase the likelihood of success.

Four Ways Procurement Analytics Identifies Savings Opportunities

The procurement function is constantly under pressure to reduce costs and realize savings throughout the business.

How to Solve Challenges for Data Consolidation and Harmonization

One of the challenges in procurement is consolidating and harmonizing available data to make more fact-based decisions.

What is Spend Analysis

Ultimately, spend analysis is about gaining the necessary insights to drive fact-based, smarter and sustainable procurement decisions.

Develop a Successful Procurement Strategy in 8 Steps

A solid procurement strategy is important for the business and the procurement function. However, the process of creating a successful strategy is not always straightforward.

8 Benefits of Procurement and Spend Analytics

Working data-driven and fact-based with your procurement costs is crucial to identifying and realizing savings.

8 Strategic Levers to Reduce Procurement Costs

Selecting and implementing procurement measures is a vital part of a holistic approach to strategic procurement.

Categorizing and Classifying Spend - Five Practical Tips

Categorizing your spend is the starting point for category management and a more data-driven approach to procurement. In this article, we will share some practical tips on how to get started.

The Most Common Sources of Spend and Procurement Data

You can gain more insight from your data than you think! In this article, we take a closer look at the most common sources of spend and procurement data.

Six Tips For Organizing a Procurement Function

Based on our experience, we have compiled six specific tips that can be helpful in building a modern procurement function.

Contract Follow-Up is Vital For Realizing Savings

Managing your contracts and improving compliance is essential to ensure that savings are realized. It also drives supplier collaboration and helps avert conflicts during the contract period.

Renegotiations - an Underestimated Strategic Lever?

You can use multiple levers to reduce your procurement costs. One commercial lever, often referred to as a "quick win", is to renegotiate your existing contracts.

Six Tips for a Successful Renegotiation Process

Through multiple procurement projects, we have participated in hundreds of negotiation meetings with suppliers, providing us valuable insight on how to ensure a successful renegotiation process. In this article, we share six practical tips on how to secure sustainable, long-term results from a renegotiation.

How to Address Strategic Categories

The Kraljic Matrix is a useful tool ​​when defining relevant procurement levers for the different categories. Let's take a closer look on how to address strategic categories.

A Practical Guide to Category Management

Many organizations talk about category management, yet relatively few have implemented this strategic approach to procurement. Implementing category management may seem challenging, but our experience suggests that a few, basic principles can take you a long way.

How to Create a Category Structure For Your Business

Classifying, or categorizing, spend provides you with more control, better overview and detailed insights. In addition, it is a vital part of category management and strategic procurement.

Six Steps For Creating an Action-Based Category Strategy

Are you developing a category strategy, but not sure where to start? Follow these six steps to create an action-based category strategy for your company.

AutoStore signs agreement for the use of our spend management solution

We are delighted to welcome AutoStore as one of our newest customers. Following a procurement project, the company has now entered into a license agreement for the use of our digital solution for strategic procurement.