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Counterintuitive strategies to navigate the recession: Part 2

Zycus Cognitive Procurement

In good times, operating leverage (ratio of fixed and variable costs) can supercharge profit growth. However, in times of growth, new costs and expenses also tend to creep in, and over time, these costs harden and morph into fixed cost structures. In troubling times, high operating leverage comes back to bite, crushing profits.

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Procurement vs. Acquisition: What’s the Real Difference?

Pipefy

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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15 Best Purchasing Software Solutions for SMEs

Procurement Software

When you think of the best purchasing software solutions for SMEs, or procurement tech in general, you probably think “expensive” This list of 15 procurement tools specifically targeted to smaller and growing businesses will prove it’s not so. It gives you full visibility of your spend data, all in one place.

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7 Best Procurement Tools to Streamline Your Business Processes

Pipefy

In fact, 98% have plans for investments or upgrades in analytics and insights tools, automation, and AI-driven optimization of purchasing decisions. Pure platforms only handle procurement processes and are primarily used by large companies with a dedicated purchasing team that manages complex processes. What are procurement tools?

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Procurement KPIs: 22 Essential Metrics for Tracking and Visualizing Procurement Performance

Pipefy

Build a more efficient and connected procure-to-pay process with The Definitive Guide to P2P Optimization Importance of procurement KPIs Procurement has evolved over the years from transactional functions (now associated with purchasing) to encompass strategic activities focused on maximizing and creating value for a business.

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A Guide to Cloud Procurement

Pipefy

This end-to-end system’s built-in collaboration and data analysis tools eliminate process friction commonly created by manual or disjointed workflows. Procurement organizations are primarily measured by cost savings, making it imperative for them to reduce purchase prices as much as possible.

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How Digital Procurement Tools Can Eliminate Busy Work

Procurement Software

It also provides real-time data and analytics that can be used to improve purchasing decisions. Ultimately, digital procurement enables organisations to enhance the overall procurement experience, as well as increase efficiencies and transform their end-to-end procurement function. What is procurement tech?