News and Content for Procurement Professionals

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The 20 Most Important Procurement KPIs to Drive Value

Not sure how to choose and set the right KPIs for your procurement organization? Here we are with some guidance as well as 20 most important procurement KPI examples that you can use in your company.

5 Major Procurement Trends to Watch for in 2022

2021 is soon going to be over. Though there is still enough time left for surprises to unfold, most of us would agree that this year has been more stable and less erratic than 2020.  Does that mean there is nothing new for procurement? No new challenges, changes, or trends? Well, if you ask us, we would say it is only a matter of perspective. 

Maverick Spend: 5 Ways to Tackle It and Drive Savings

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 Tips for a Successful Renegotiation Process

Through multiple procurement projects, we have participated in hundreds of negotiation meetings with suppliers, that has provided us with valuable insight into 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 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?

All You Need to Know About Spend Management

When running a business, you need to think about thousands of factors that can contribute to or add value to it. Among these factors, one of the most important is how you monitor and control your spending. Irrespective of the industry you are in, spend management is a process that makes sure money leaving your company is appropriately tracked and accounted for regularly.