Blog

There's one thing procurement professionals are always in search of, it's clarity. They certainly want lots and lots of it. And what better way to get clarity than from a good old-fashioned cube? That's right—we're talking about a spend cube, which is a powerful tool that provides insight into the total value of spend per category, the number of suppliers each category has, and more.

Seeing all your spend data in one place can inspire a dramatic change in how you manage your business. It's even more useful if you also organize that data by supplier, categories, items buyer, then view it in real-time. You'll want to refer back to this information again and again! Yet, only a few organizations are able to get a detailed view of their spending. And this lack of spend visibility comes with a hefty price tag.

Where do the products you use come from? How are they made and transported? Who supplies your products? Do they use sustainable methods and materials? Are their carbon emissions high? Do you have a baseline with a heat map of scope 3 emissions in your company? If you’re looking to go net-zero, finding answers to these questions is crucial but not as hard as you might think.

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.

Through multiple procurement projects, we've participated in hundreds of negotiation meetings with suppliers, that's 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.

This blog will walk you through all you need to know about spend management and why managing spend is important for companies of all sizes.

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.

Every procurement professional wants to mitigate as many procurement risks as possible, but before taking the risks head-on, you need to understand what you are up against. We have identified and put together a list of the top 5 procurement risks that all procurement professionals should be aware of.