This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
New release features AI-powered contractmanagement, more seamless messaging and communications, supplier risk and performance enhancements and procure-to-pay efficiency . AI-powered contractmanagement. On the AI front, Ivalua enhanced its leading CLM solution with AI-Powered Contract Data Capture.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.
Redwood City, CA – Feb 24, 2021 – Ivalua , a global leader in Cloud Spend Management solutions , today announced the general availability of its new platform release 168. The release includes a broad set of innovations to help organizations better manage their spend and suppliers. Sourcing Innovations: .
Redwood City, CA – March 24th, 2022 – Ivalua, a global leader in spend management, today announced that it has been named a leader in The Forrester Wave : Supplier Value Management Platforms, Q1 2022. In today’s dynamic and uncertain environment, strong supplier relationships are a key competitive advantage. About Ivalua.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter Supplier Collaboration Software — What You Should Know The use of supplier collaboration software continues to rise as businesses grow and technology advances. However, what is it?
Complete Source to Pay cycle and Strategic Sourcing Guide An optimized Source-to-Pay (S2P) process helps businesses enhance procurement efficiency, reduce costs, and improve supplier collaboration. Steps, Benefits, and Best Practices S2P covers the entire procurement lifecycle, from supplier selection to final payment.
20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management. Procurement became a key player in ensuring supplychain continuity.
They may not consider potential issues of integrations, supplier onboarding, supplychain data management, change management and system optimization, all of which add to complexity and costs. It seems that the era of best-in-class supplychain solutions has arrived. Best-in-Class Beats Single-Stack.
Below is a ranking from highest to lowest focus on procurement and supplychain practices, as of April 4, 2025, based on their stated missions, agendas, and historical emphasis. contract negotiation, risk mitigation) gives it the strongest alignment with core procurement practices. Its emphasis on actionable strategies (e.g.,
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which provide procurement with the tools needed to maximize the value they get from their supplier relationships, automate and streamline processes, and identify opportunities for cost savings. Let’s explore further.
Categories for the Pro-to-Know recognition include but are not limited to SupplierManagement, Sourcing, ContractManagement, eProcurement, Form Requests, and AP Automation. Metrics may include cycle times for each process, use of templates, user and supplier adoption, as well as process and cost savings.
This year, our discussions covered Invoice Automation, Scope 3 Emissions, ContractManagement, SupplyChain Collaboration, Indirect/Services Procurement, and SupplierManagement–Customer of Choice. Thank you to our guest speakers, Solution Consultants, and the Product Marketing team!
Comprehensive Curriculum: MCIPS covers a broad spectrum of topics, from procurement principles and strategies to contractmanagement, negotiation, and ethical considerations. Think of it as the gold standard for procurement professionals. It provides a holistic view of the procurement landscape.
Definitely areas like supplychainresilience, which is a big topic at the moment; we have undertaken a lot of supplychain mapping and created a lot of real-time data and if factors were to happen, what an organisation and procurement should do to counteract them.
This underlines the importance of taking a structured approach to savings within organizations’ supplychains, in which a customized SIM platform can act as a catalyst for uncovering hidden savings and driving operational excellence. This is especially the case as supplychains become increasingly complex and digitalized.
Take a look at how procurement teams will meet ESG goals in 2024: Technology and supplier intelligence. Improved reporting, analytics, and data will help inform decisions and enforce ESG policies with suppliers. Supplier performance analysis. Contractmanagement. Foster strong relationships with key suppliers.
Strategic supplier-partner relationships/partnerships are essential. Vera Rozanova Vera is a seasoned procurement & supplychain professional with 25+ years of experience in Planning, SupplyChain, Procurement, SOP+, and Quality across diverse industries. The importance of clean data? Critically important.
Building resilientsupplychains So, what defines a resilientsupplychain? It’s not just about having a backup supplier or two – it’s about building an entire ecosystem that can flex and pivot as needed. Utilize risk management expertise to understand risk appetite and reporting.
Sometimes getting out there, requesting demos, and seeing what the market has to offer is the clearest way to understand what kind of requirements you should be putting on prospective suppliers in an RFx or a deepened solution evaluation process. Need to strengthen supplier compliance ? That means you need to know your supplier.
These risks can arise from various sources, including suppliers, market conditions, geopolitical factors, and internal organizational processes. Effective procurement risk management entails identifying, assessing, and mitigating these risks to ensure a resilient and efficient supplychain.
S2C Simple, user-friendly and easy-to-implement RFQ, supplier repository, and contract administration platform designed for the SME market. Collaboration Tools Various types of Project Management and internal stakeholder and supplier collaboration software platforms available within this price range.
Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.
A procurement strategy is a comprehensive plan designed to streamline and manage the process of acquiring goods and services an organization needs to operate efficiently. Emphasizes long-term relationships with key suppliers based on mutual value creation. Limited use of technology and digital tools in procurement operations.
2) Effective risk management should be a priority After the Covid-19 pandemic, enterprises have been firefighting to manage risks and have invested in developing supplychainresilience. As per Zycus’ Pulse of Procurement Survey, risk management was the top procurement priority for CPOs in 2022.
It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Procurement is central to a business’s operations, with a purpose that encompasses cost-efficiency, quality control, risk management, and strategic sourcing.
These experts don’t just handle the purchasing, but they also bring in their knowledge, skills, and technology to streamline the process, manage risks, and ultimately, unlock greater value for the business. Our contractmanagement and supplier relationship management services help manage the risks associated with procurement.
By analyzing and understanding how an organization spends its resources, businesses can identify cost-saving opportunities, enhance supplier relationships, and drive overall efficiency. Supplier Collaboration: Fostering closer collaboration and communication with suppliers through digital platforms and portals.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content