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StrategicSourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategicsourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has StrategicSourcing Evolved?
Identifying the need for foundational technology and processes Before joining Utz as its SVP Procurement, Ron had been consulting with the SupplyChain department working on a number of different projects. Instead, he noted, we had to choose our solutions in a more targeted and perhaps even piecemeal fashion.
Facilities management : Maintenance, cleaning, and security services. IT services : Software subscriptions, cloud storage, and tech support. When you’re comparing direct and indirect spend, half the battle comes down to managing changes in the supplychain. What’s Behind This Disconnect?
But before this can happen someone has to identify suitable vendors to secure goods and services at the best value (not necessarily the lowest price) within a variety of constraints (risk management, ESG and regulatory factors etc.). Strategicsourcing: The word strategic is added for good reason.
Redwood City, 17 August, 2022 – Ivalua, a global leader in spendmanagement , today announced that O-I Glass Inc, an American Fortune 500 company headquartered in Perrysburg, Ohio, has selected its solution to streamline its Global Direct and Indirect Source-to-Pay (S2P) Processes. in 2021 and 24,000 employees.
Redwood, CA, 20th December 2021 – Ivalua, a leading provider of global SpendManagement Cloud solutions, today announced that Canada’s largest co-operative, Federated Co-operatives Limited (FCL), has gone live with its source-to-contract solution which includes a seamless integration to TealBook, the leading supplier data foundation.
Historically, the focus has been on optimizing portfolios of spend—prioritizing what to address, defer, or ignore—using well-known frameworks such as the Kraljic Matrix and the Pareto Principle. Today’s procurement challenges go far beyond cost negotiations and sourcing. However, this convenience comes with a downside.
Spend analytics software would be the first tech investment I’d make in a greenfield Head of Procurement role. You have to know what you’re spending your money on before you can start to transform your procurement operations. To do this quickly and efficiently, spend analytics software is your best friend.
raw materials, software licenses). They submit a formal request, which managers review for necessity and cost-effectiveness. Some key objectives of purchasing include: Reducing expenses through competitive pricing and strategicsourcing. Minimizing supplychain disruptions and compliance risks.
There doesn’t seem to be a month go by without a new solution coming onto the market offering eSourcing software as part of their offering. Knowing which solution is suited to your business and level of procurement maturity is a minefield. Which eSourcing solutions are best suited to mid-market businesses?
Redwood City, CA – December 18, 2019 – Ivalua, a global leader in cloud SpendManagementsolutions , today announced that it has been recognized as a Leader by Forrester Research Inc. in “ The Forrester Wave™: Source-to-Contract Suites, Q4 2019.” S2C suites offer the software tools to achieve these objectives.”.
Redwood City, CA – December 18, 2019 – Ivalua, a global leader in cloud SpendManagementsolutions , today announced that it has been recognized as a Leader by Forrester Research Inc. in “ The Forrester Wave™: Source-to-Contract Suites, Q4 2019.”
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
Pere Sivecas , Spend Matters Development PM and Software Architect, has compiled a four-part video series that covers the basics you need to know, the first two of which are free while parts three and four require a basic Insider subscription.
Why is spend analytics software so important? through strategicsourcing and targeted cost savings is a lot easier to accomplish than a sales force increasing their revenue by 10%. Some of the advantages that procurement analytics software can provide. Why a solid spend analysis is essential. Saving just 2.5%
Why is spend analytics software so important? through strategicsourcing and targeted cost savings is a lot easier to accomplish than a sales force increasing their revenue by 10%. Some of the advantages that procurement analytics software can provide. Why a solid spend analysis is essential. Saving just 2.5%
Key advantages of using Procure-to-Pay and Source-to-Pay technology Hard Cost Savings Value Drivers Possible Disadvantages of using P2P and S2P software Can you combine P2P and S2P in procurement software? What’s the best S2P or P2P software for mid-market and SMEs? What is P2P in procurement?
How to report and analyze indirect spend to identify savings opportunities. How strategicsourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Sociopolitical Risks When politics and government change drastically, it has the potential to wreak havoc on your current supplychain.
Part 1 Part 2 Source-to-Contract GEP is a well-developed S2C software offering that differentiates itself from competitors by having its large platform all on one tech stack and developing internally to become a leader in the space. SxM Matchory is a supplier discovery tool that aims to streamline the strategicsourcing process.
How to report and analyze indirect spend to identify savings opportunities. How strategicsourcing, cost management, and cost avoidance strategies can be applied to indirect spend. ESG In SupplyChain: Creating a Sustainable Value Chain. Download Free Copy. Written by. Rob Biedron. 17 min read.
The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supplychainmanagement, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.
This week on The Procurement Software Podcast, host James Meads delves into some unique technology needs that direct procurement teams are often facing. Inventory Management: We discuss the importance of handling raw materials and components, highlighting the need for advanced inventory systems and effective BOM spendmanagement.
If you want to search the whole range of procurement tech companies out there beyond just startups, then check our our free software directory. Focal Point Focal Point is a growing Atlanta-based procurement startup offering a unique solution tacking three different challenges within procurement.
Possible Disadvantages of using P2P and S2P software. Can you combine P2P and S2P in procurement software? What’s the best S2P or P2P software for mid-market and SMEs? We’ll cover the plethora of softwaresolutions available to handle the entire P2P process or its specific steps later.
If you work in procurement and supplychain , you know there are hundreds of technology solutions geared toward making the purchasing process easier and more efficient. How many different types of software does your organization currently use? There’s even software to help you find and compare other software!
Standardised procurement software suites often cater to source-to-pay (S2P) and source-to-contract (S2C) functions with a strong bias towards use cases in indirect procurement. Procurement tools for direct spend need to be tailored to work with your supplychain, quality and production teams.
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
With the increasing complexity of supplychains and the growing importance of sustainability and social responsibility, the role of procurement professionals has become more critical than ever. Improve spendmanagement by implementing a buying plan Effective spendmanagement is crucial for any organization’s financial health.
Before, purchasing managers often prioritized spendmanagement. Although this is still an important part of their job, strictly working with low-cost suppliers isn’t always the best way to managespending. Companies that adapt to supplychain volatility can swim against the tide. . In conclusion.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How to report and analyze indirect spend to identify savings opportunities. What's Planergy?
Digital procurement means letting go of manual data entry, paperwork, and complex request management and instead opting to use software that streamlines procurement through integration and automation. For example: the ERP system, SAP, Netsuite, and other finance software. The first choice will be the software type.
There are dozens of excellent survey software alternatives on the market, ranging from webpage pop-ups to app-based mobile surveys and plug-ins for platforms like Slack and Teams. Get control of IT procurement Two key IT procurement challenges that will test your resolve in the new year are shadow IT and auto-renewing software subscriptions.
How to report and analyze indirect spend to identify savings opportunities. How strategicsourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Best Practices & Tips StrategicSourcing Supplier Relationship Management. Download Free Copy. Written by.
Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities. Invest in Procurement Software. Download Free Copy.
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
In this post, we’re going to look at two areas where Procurement teams typically spend a lot of effort, but often struggle to get recognition: Cost avoidance (including price increase deferrals). Driving value through strategicsourcing and supplier collaboration. Procurement as a growth partner to the business.
In this post, we’re going to look at two areas where Procurement teams typically spend a lot of effort, but often struggle to get recognition: Cost avoidance (including price increase deferrals). Driving value through strategicsourcing and supplier collaboration. Procurement as a growth partner to the business.
Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities. Creating Strategic Partnerships. Download Free Copy.
How to report and analyze indirect spend to identify savings opportunities. How strategicsourcing, cost management, and cost avoidance strategies can be applied to indirect spend. SourcingSupplyChainManagement. Use PLANERGY to manage purchasing and accounts payable.
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
Procurement can promote employee value all the way down the value chain by ensuring suppliers comply with fair labor practices, ethical standards, and employee well-being. We can play a role in building a supplychain that reflects the positive workplace culture you want to foster within your organization.
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