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 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.
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.
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.
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.
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.
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.
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?
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.
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.
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.
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.
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.