News and Content for Procurement Professionals

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.

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

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.

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

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.

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.