News and Content for Procurement Professionals

Teaching

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.

Four Ways Procurement Analytics Identifies Savings Opportunities

Understanding and analyzing your company’s spend structure is often the first step towards laying the foundation of a data-driven procurement organization. But for many companies who have jumped into the analytics bandwagon, translating analytics to fact-based actions that enable realizing procurement savings is a tough nut to crack. This article will discuss some promising cost-reduction strategies enabled by analytics that can grow your procurement savings exponentially.

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.

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.

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.