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As little as 10 years ago, we heard stories of pretty much indifference to risk: “supply risk management was young,” we heard, and “we didn’t worry too much about risk; we spent a very small percentage of our time on it.” It’s often felt that it just adds more time to the procurement process. That statement couldn’t be less true today.
Technology is a powerful enabler of finance-procurement collaboration, bridging gaps in spend visibility, cost control and data integration. Without integration, finance teams struggle to track procurement-driven savings, while procurement lacks visibility into financial planning and liquidity management.
With the right tool, teams can: Set up standardized workflows for handling and resolving tickets Manage SLAs automatically Track assets and changes in realtime Integrate with other departments (HR, Finance, Facilities, etc.) Why Your IT Operation Needs an ITSM Tool Modern IT management demands speed, visibility, and scalability.
For a long time, traditional methods for organizing processes seemed good enough. If your company wants to move faster, reduce risks, and scale safely, its time for a smarter, more connected approachand AI sits at the core of this transformation. AI Agents make your workflows faster and more efficient.
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.
When your team isnt buried in repetitive tasks, they have more time for what really matters: supporting people, growing leaders, planning succession, and building a strong culture. can dramatically improve the candidate experience while making things much easier for recruiters. And automation doesnt remove the human touchit enhances it.
The concept of invisible workflow breaks away from traditional models of complex process maps and visible automations understood only by IT teams. Instead, its about creating processes so naturally embedded that they just happen driven by smart rules, real-time data, and AI-powered decisions. The challenge? The result?
Benefits of using purchasing software Managing purchase orders manuallyor relying solely on QuickBookscan lead to approval bottlenecks, overspending, and a lack of real-timevisibility into company spending. No one has time to manually match invoices to purchase orders and receipts. But not all tools are created equal.
But to do that effectively, you need the right tech stack to streamline processes, automate tedious tasks, and provide real-time financial insights. The best virtual CFOs combine multiple tools to create a system that reduces manual work and improves financial visibility. What are virtual CFO tools?
This is where strategic sourcing professionals spend most of their time, communicating directly with their top suppliers through an SRM program , and using cutting-edge procurement software to analyze spend and track risk. Even with the help of procurement tech, it takes time and resources to bring an unruly tail spend under control.
Cargo Chief enables 3PLs and freight brokers to expand their carrier network, gain visibility into real-time pricing, and streamline their processes. And we serve everything up on our project and procurement software… for an easier way to book freight.”. We solve some of the industry’s biggest issues….
If youre in procurement or supply chain, chances are youve wondered: How can I rethink this process, make smarter decisions, and still save time? In this article, well break down how combining automation with full integration is reshaping procurement and delivering real improvements in efficiency, savings, and strategic control.
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Preparing Your AP Department For The Future", to learn: How to transition from paper and excel to eInvoicing. The seamless connection allows for automated invoice scanning, approval workflows, and real-time spend visibility.
using e-procurement for visibility) support organizations facing disruptions. Hansen brings practitioner-grounded expertise , including: Real-time supplier risk commentary Deep knowledge of P2P/S2P/AI platform evolution Historic analysis of failed and successful ProcureTech deployments 3. His practical tech insights (e.g.,
ASG, a portfolio company of Alpine Investors that buys and builds vertical SaaS companies, has announced that it has acquired Trucker Tools, a digital freight management platform that provides capacity management, predictive freight matching, automated booking, real-time GPS-based visibility and digital workflow solutions for the transportation industry. (..)
Real-time expense automation is the future. Over nine in 10 say technology that provides real-time alerts to track budgeting and unnecessary expenses on business will either be commonplace or a differentiator within five years. As the world readjusts to post-pandemic realities, businesses must embrace T&E automation.
The right financial reporting software gives you real-timevisibility into where money is going, automates tedious finance tasks, and helps you make smarter decisions faster. It automates reporting processes, reduces manual errors, and provides real-time insights into a companys financial health. Custom dashboards.
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Preparing Your AP Department For The Future", to learn: How to transition from paper and excel to eInvoicing. Real-Time Payments (RTP) Gained Traction: RTP adoption transformed B2B transactions, with 49 million transactions worth $22.7 growing 10% quarterly.
Creating a structure and a visibility across all of this activity is key, so as those affected can actually see it bearing fruit. Sheldon uses "just-in-time" (JIT) as a great example of how supply chains have been primarily driven by cost savings activities rather than collaboration. Book a Call with James. Useful links.
Introduction Setting up a barcode inventory system marks a significant step forward for growing businesses seeking to modernize their operations. When implemented correctly, barcoding transforms time-consuming manual processes into swift, accurate inventory management workflows.
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. Thanks to AI and other tools, you can now make better decisions with real-time data.
Setting up purchase orders in QuickBooks takes minutes, and once you do, youll have better visibility into spending, more control over your budget, and fewer last-minute payment fires to put out. Tracking vendor performance and pricing over time also gives you leverage for negotiating better terms. The good news?
Coming at a time when the pandemic is depressing global consumption of oil thanks to plummeting travel plans and shelter in place orders, it seems counter intuitive that demand to move oil would be at record high volumes. By Furnishing Upstream and Downstream Visibility to More Effectively Coordinate with all Facets of the Supply Chain.
By connecting all aspects of procurement—from sourcing to payment—Workrise fosters real-timevisibility and stronger supplier relationships, enabling energy companies to operate more effectively. We'll be back at the same time next week, so see you there. A key takeaway is Praveen’s emphasis on adaptability.
In 2005 I came across a book, Sense & Respond (The Journey to Customer Purpose) Creating and Leading Sense-And-Respond Organizations. At the article published today they have written “Sense and Respond in RealTime: The Continued Growth and Investment in Control Towers.”.
It integrates with cost accounting systems to track spending, ensures smoother workflows for accounts payable and accounts receivable, and provides real-timevisibility into purchasing activities. By providing real-time insights, it helps businesses identify unnecessary spending and make informed decisions to optimize budgets.
IT procurement provides a lot more visibility to senior stakeholders within the business. CIPS is valuable because it allows you to apply your theory to the real world. Both on-the-job skills and book knowledge complement one another. Through studying CIPS you also have the opportunity to expand your wider network which is key.
When it comes to managing a supply chain, having access to real-time data can be a game-changer. Read More: 10 Must-Read Supply Chain Analytics Books for 2023 ] The benefits of SCM analytics are numerous. This can result in faster delivery times and improved customer satisfaction.
Let’s Talk Supply Chain gives them a platform to share what drives them and how they are igniting real progress at their organizations. This summer her book Transforming the Organization: Building a Flexible Foundation for Future Disruption makes its debut. How did your supply chain journey start?
Before shippers select a carrier partner for large-scale shipping, they should first consider that carrier’s track record: does that shipper have a record of delivering on time? If the answer to these questions is anything other than ‘yes’ and ‘stellar,’ it’s time to look elsewhere.
We have an amazing analytics dashboard, which gives us visibility on spend and suppliers’ contract duration, supplying really important insight. Firstly, I didn’t reach into the Stephen Day black book of contacts and start ringing them all up and saying “Do you want to join us?” It is not for the faint-hearted!
” Old telephones, vinyl records, cassette tapes and 8 track tapes, physical books,VHS tapes, physical pieces of mail, watches with moving hands, and antenna based televisions are all analog devices, for those of us old enough to remember them. Visibility to where goods were was largely limited to updates that came over the phone.
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Preparing Your AP Department For The Future", to learn: How to transition from paper and excel to eInvoicing. While less visible, these procurement areas are crucial for maintaining a functional educational environment. Book a Live Demo 2.
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. Book a Live Demo 2. How to report and analyze indirect spend to identify savings opportunities.
In this article, we’ll go over a few ways to improve the process: education, gaining spend visibility , categorizing spend by supplier or department, etc. Understanding these categories is the first step toward better visibility, smarter procurement processes, and tighter budget control. What’s Behind This Disconnect?
They don’t want to fill out a form to request a quote, send an email to get pricing information, or wait to get simple answers; they want real-time answers and action. Customers who flooded Camping World’s call center were often met with long wait times or were dropped accidentally.
Building a Procurement Function From Scratch With the right approach, building a procurement function from scratch can create streamlined and efficient processes that deliver real value to your organization. Build a team Once you’ve identified your goals and stakeholders, it’s time to start building your team.
Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Preparing Your AP Department For The Future", to learn: How to transition from paper and excel to eInvoicing. Tools like PLANERGY enhance supply chain resilience by providing real-time tracking, data-driven insights, and streamlined communication with suppliers.
What’s needed is a solution that not only safeguards the performance of your mission-critical applications, but also goes above and beyond through reduced cost, time efficiency and monetary savings. This aspect is crucial for app performance optimization, as it provides real-time insights through high-fidelity data.
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. Using financial tools can help save time and resources while improving accuracy in the budgeting process.
The reference to “ Visibility” with a single source of truth ” – How often do we hear that phrase used in 2023 suggests that we still haven’t achieved it yet. If Cisco has achieved a single source of truth visibility, maybe we should look at how they did it and emulate them?
In today’s competitive business environment, getting the correct products to the right place at the right time via the most cost-effective manner is paramount for your business’ success. BooksyBiz – Appointment Booking. Hawk-Eye Trucking Log Book – Trucking Application.
Unless you’re running very regular procurement events to update rates in all your lanes, you may still be paying more for contracted freight that you would if you booked loads on the spot market! Measures of spot-pricing for truckload business are down by double digits from last year…”.
They offer app developers on-demand scalability and faster time-to-benefit for new features and software updates. Broadly speaking, application analytics refers to the process of collecting application data and performing real-time analysis of SaaS, mobile, desktop and web application performance and usage data.
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