News and Content for Procurement Professionals

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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.

Five Most Common Procurement Risks and How to Manage Them

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.

Six Ironclad Tips to Organize Your Company’s Procurement

Businesses nowadays are emphasizing upon the importance of organizing procurement functions. Why? Because effective and efficient procurement can be the difference between a company’s astounding success or downfall. Most of you must be convinced or are already looking out for ways to organize procurement functions for your business. Here are our six expert tips to help you start building a modern procurement function.

The Journey From Transactional to Strategic Procurement

When a procurement organization's vision does not look beyond savings, the chances of getting stuck in a tactical shell increase. Sometimes, transactional issues might appear critical for operations, but in reality, they are short-term and with limited impact. To realize its full value potential, procurement must overcome its evolutionary tactical barrier and become a more strategic function.

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.

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.