Pipefy

FEBRUARY 13, 2023

Procurement is the process businesses use to source and obtain goods/services from external suppliers to achieve strategic objectives and fulfill business needs or purchase requests. In this stage of the process, multiple departments collaborate to address capability requirements, design, technology, and, most importantly, time and cost.

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Una

SEPTEMBER 22, 2022

Factors to consider when purchasing IT range from supplier reputation and cost to support, reliability, fit-for purpose, and, most importantly, data. It’s impossible to have the most current or newest application implemented at all times. Negotiate & Award Contract. Focus on data. Be the liaison between different teams.

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Finale Inventory

AUGUST 28, 2024

Managing inventory is a vital part of running an efficient construction company. In the current digital landscape, where ecommerce is expanding, integrating inventory management with online operations is more important than ever. This reduces human error, improves efficiency, and saves time and resources.

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TYA Suite

NOVEMBER 15, 2024

This introduction to supplier risk management outlines the importance of effectively identifying and managing risks that may arise from suppliers. Supplier risk management is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.

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Arkestro

JULY 11, 2022

As part of Box’s continuous advocacy towards ESG and Supplier Diversity, previous visibility into their supplier diversity spending was limited. According to McKinsey, diverse executive teams financially outperform other executive teams, and this has only strengthened over time. million jobs in the United States.

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Empowering CPO

JULY 5, 2023

Now, let’s look at the importance of technology in procurement. Integrating technology into procurement processes is not just about keeping up with the times; it’s about realizing the potential for enhanced efficiency, accuracy, transparency, and strategic decision-making.

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Empowering CPO

JUNE 26, 2023

From data-driven decision making to real-time spend visibility, predictive analytics, supplier collaboration, intelligent automation, and data security, we will explore each trend in depth, shedding light on their significance and potential impact on businesses.

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TYA Suite

AUGUST 26, 2024

In this blog, we explore the key features and importance of procurement software for small and medium-sized businesses and how to choose the best procurement software solutions specifically designed for SMBs. streamlines the entire procurement process, from creating purchase orders to managing supplier invoices.

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Procurement Express

FEBRUARY 15, 2025

The last thing you need is to waste time digging through messy spreadsheets just to figure out where the money is going. They help you control costs, prevent supplier issues, and make smarter purchasing decisions without second-guessing. Some give you real, actionable insights, while others just add noise.

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World of Procurement blog

MAY 8, 2024

Metrics : Procurement tracks savings, efficiencies, supplier performance, and risk. Procurement is strategically important because it: Drives significant cost savings through economies of scale, supplier negotiations, and process efficiencies. Purchasing measures transactional volume and costs.

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Procurement Software

APRIL 18, 2023

These negotiations take place in real time, with all prospective suppliers at once. This saves buyers not only money, but hours of conversation time. This involves suppliers competing in sequential bidding. This back and forth is very time-consuming. This not only saves time and human resources.

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TYA Suite

SEPTEMBER 15, 2024

Procurement ERP software often includes SRM modules that enable businesses to manage supplier information, evaluate performance, and maintain strong. These tools help in negotiating better terms, ensuring timely deliveries, and fostering long-term partnerships. Once approved, are generated and sent to suppliers.

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Empowering CPO

JUNE 27, 2023

This transformative practice enables organizations to delve deep into their purchasing data, gaining invaluable insights that can revolutionize their supplier relationship management (SRM) strategies. It involves collecting, categorizing, and analyzing procurement data from various sources such as purchase orders, invoices, and contracts.

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Empowering CPO

JUNE 27, 2023

Spend analysis involves the systematic examination of purchasing data to gain insights into spending patterns, supplier performance, and potential areas of improvement. Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility.

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Planergy

MAY 25, 2023

Along with managing accounts payable, proper spend management should include finding the right vendors and suppliers, negotiating payment terms and discounts, setting spending limits, managing the full procure-to-pay process, and automating invoice processing with AP automation. QuickBooks does not have granular access controls.

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Procurement Software

FEBRUARY 20, 2024

Feature highlights include: Easy to use five-category classifications, best in class enterprise taxonomy, the ability to gain insights from trend analysis and organisation behaviours, 100% spend visibility and proprietary machine learning algorithms designed to deliver accuracy. M&A) The solution gives you full spend visibility.

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Arkestro

MARCH 27, 2024

Resources / Blog / Unleashing the Power of Procurement Buyers: Delving into this Impactful Role Unleashing the Power of Procurement Buyers: Delving into this Impactful Role Buyers have always played an important role in the procurement industry, helping organizations obtain goods and maintain a careful balance of speed, cost-efficiency, and quality.

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World of Procurement blog

MAY 23, 2024

Quality - Review defect rates, customer complaints, and quality control processes for each supplier. Ensure suppliers consistently meet quality requirements. Delivery performance - Measure on-time delivery rates and lead times for each supplier. Reliable, on-time delivery is essential.

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Empowering CPO

JUNE 30, 2023

Introduction Have you ever wondered how much time, effort, and money your company spends on procurement? With today’s increasing business complexity and the pressure to do more with less, it’s time to explore how managed procurement services can transform your business. Allow us to introduce ourselves.

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Pipefy

JANUARY 9, 2024

Request management and how to enhance efficiency and response times through centralized request handling in IT and HR. Procurement process optimization to achieve cost savings and better supplier relationships with digital solutions. Reducing shipping errors and improving customer satisfaction with automated verification and tracking.

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Empowering CPO

JULY 17, 2023

Procurement teams are often confronted with issues such as maintaining cost control and visibility over spending, managing relationships with a diverse range of suppliers, staying compliant with a myriad of regulations, mitigating risks in the supply chain, and leveraging new technologies effectively. The result?

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Procurement Supply Chain Efficiency Real-time Visibility Supply Chain Optimization 40

Empowering CPO

JULY 17, 2023

Procurement teams are often confronted with issues such as maintaining cost control and visibility over spending, managing relationships with a diverse range of suppliers, staying compliant with a myriad of regulations, mitigating risks in the supply chain, and leveraging new technologies effectively. The result?

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Empowering CPO

JUNE 14, 2023

The Importance of Understanding the Implications of Procurement Outsourcing However, as with any strategic move, procurement outsourcing is not without its challenges. These tasks might include sourcing suppliers, negotiating prices, managing supplier relationships, overseeing contracts, and more.

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Empowering CPO

JUNE 27, 2023

Key insights covered in this blog include: The importance of spend analysis in identifying cost-saving opportunities, mitigating risks, and driving strategic decision-making in procurement. Supplier Performance Analysis: We analyze supplier performance metrics, including delivery timeliness, quality, pricing, and compliance.

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Empowering CPO

JUNE 14, 2023

It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Importance of Innovative Procurement Models In the era where change is the only constant, innovation has become a necessity rather than a luxury.

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Empowering CPO

JUNE 25, 2023

The industrial revolution in the 18th and 19th centuries marked a significant turning point, as businesses started to realize the strategic importance of procurement. They were time-consuming, error-prone, and lacked the sophistication to handle large volumes of data or complex analyses.

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Empowering CPO

MAY 15, 2023

It’s the art of sourcing, negotiating, and purchasing, all while maintaining a keen eye on quality and cost. But in recent times, this function has evolved far beyond the simple act of purchasing. When a company commits to buying large quantities from a supplier, it often gets a better per-unit price.

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Empowering CPO

MAY 4, 2023

Importance of procurement in modern businesses In today’s fast-paced and competitive business landscape, procurement plays a crucial role in driving efficiency, cost savings, and overall success. Greater transparency: Real-time tracking of procurement activities allows for better monitoring and control of the entire process.

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Pipefy

JUNE 15, 2023

These solutions also save money on sourcing , which is the process of identifying and assessing suppliers. Negotiating with suppliers ensures that a customer receives the best value for the goods and services it receives, since this process often involves suppliers bidding against each other.

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Empowering CPO

JUNE 20, 2023

Definition of Tail Spend and Its Importance in Procurement Tail spend, or non-strategic spend, typically refers to the approximately 20% of a company’s purchases that account for about 80% of its suppliers. The company was able to recoup a significant portion of this loss by implementing a strategic tail spend management program.

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Empowering CPO

JULY 2, 2023

This approach allows businesses to leverage the expertise of procurement specialists to streamline operations, optimize supplier relationships, and most importantly, reduce costs. This involves everything from identifying requirements and sourcing suppliers to negotiating contracts, placing orders, and managing supplier relationships.

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Empowering CPO

JUNE 16, 2023

Now, why is it so important? Improve Supplier Negotiation: With a clear understanding of spending patterns, companies can negotiate better contracts and payment terms with suppliers. Data Cleansing: Once the data is collected, it’s time for a thorough cleaning.

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