article thumbnail

New Year Insights for the procurement solutions and services marketplace 2024: GEP

Spend Matters

Additional areas where the AI delivers value include contract lifecycle management, procure-to-pay processes of purchase requisitions, invoice processing/reconciliation and payment automation. AI-powered source-to-pay is the future At GEP, we leverage proprietary AI algorithms to streamline all procurement processes.

article thumbnail

Everything You Need to Know About Procurement Solutions

Pipefy

In its long history , procurement has evolved from self-contained purchasing entities to an essential business partner handling processes involving several departments and many subprocesses. Below we’ll cover digital procurement solutions, essential features, and their benefits for optimized digital procurement workflows.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Procurement Tracking – Everything You Should Know

Procurement Tactics

These elements are the main focus of monitoring the procurement process of your company and are the factors that determine whether the procurement is efficient and feasible. Purchase Orders Purchase orders are where the monitoring of the creation and approval of purchase orders comes in.

article thumbnail

A Gameplan for Procurement Transformation

NLPA (Next Level Purchasing Association)

A successful procurement transformation involves a strategic overhaul of processes, technologies, and approaches to achieve greater efficiency, cost savings, risk management, and value creation. These insights enable data-driven decision-making, negotiation strategies, and risk mitigation, leading to more informed procurement choices.

article thumbnail

Strategic Procurement: What Is Is and Why It’s Essential for Business Resilience 

Pipefy

Strategic procurement, or procurement strategic planning, is a data-driven process that helps businesses align procurement and business goals. The result is greater supply chain predictability, more accurate decision-making, and better business agility. What is strategic procurement?

article thumbnail

Procurement Digital Transformation Sets the Stage for Delivering Game-Changing Benefits for Ahlsell

ivalua

The 140 year-old company has a strong market position; large volume provides necessary scale and competitive advantages in purchasing, sales, logistics, and business support. Provide a consumer-like experience for procurement stakeholders. billion in annual sales.

article thumbnail

A Guide to Cloud Procurement

Pipefy

As businesses complete their digital transformation and move away from complex (and often manual) legacy systems, modern procurement solutions are rapidly replacing traditional methods. Procurement organizations are primarily measured by cost savings, making it imperative for them to reduce purchase prices as much as possible.