Spend Matters

JUNE 23, 2025

Phase 1: Understanding the foundations While finance focuses on forecasting precision and budget control, procurement prioritizes usability, policy enforcement and employee compliance. Strengthening cost center visibility by aligning individual expenses with budgets, departments and project codes.

Real-time Visibility 104

Real-time Visibility Management Procurement Budget 104

Skill Dynamics

JANUARY 14, 2025

Finance and Cost Management Being able to efficiently and effectively manage and control procurement budgets and general costs will lead to stronger financial control across your business , increased cost efficiencies, and a better allocation of resources, which allows you to enhance profitability and improve your team.

Procurement 59

Procurement supply chain budgeting Procurement team Supply Chain Efficiency 59

Spend Matters

JUNE 30, 2025

These gaps are not always visible, but they compound over time, distorting budgets, delaying insights and eroding trust in the data. Finance may lack visibility into pending approvals, and procurement may lack insight into policy exceptions and budget impacts. Procurement has limited ability to monitor out-of-policy spend.

Real-time Visibility 69

Real-time Visibility e2e Procurement Management 69

Procurement Insights

JANUARY 3, 2025

Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

Spend Matters

JANUARY 14, 2025

This metric has become increasingly important as organizations deal with complex subscription models and misaligned budgets and billing cycles. Strong budget controls help prevent overspending and ensure better financial governance. In addition, our customers track the percentage of purchase orders backed by approved spend.

Real-time Visibility 122

Real-time Visibility Procurement Budget Procurement team 122

Spend Matters

JUNE 24, 2025

It must enforce policy, respect budget and guide execution. Validate contracts, budgets and supplier eligibility before routing. Provide full context, including rejection history, supplier status and budget availability. Link procurement activity with budget impact and forecasting needs. Data without action is a waste.

Procurement 79

Procurement Budget Purchasing Contract 79

Spend Matters

JULY 1, 2025

With limited time, bandwidth and budgets, SMBs struggle to compete against larger rivals that leverage economies of scale and cutting-edge technology. With the right AI tools in place, procurement teams at SMBs can operate with the same efficiency and intelligence as larger enterprises without their additional headcount or hefty budgets.

Procurement 88

Procurement Procurement team Budget Risk management 88

ivalua

JULY 21, 2025

Real-time spend and budget tracking features: Consolidating all spend information into a single system provides instant visibility across categories and business units to support strategic sourcing capabilities and better financial planning. This “maverick” spend leads to budget overruns and audit risk.

Real-time Visibility 100

Real-time Visibility e2e Procurement supply chain software solutions 100

ivalua

JULY 23, 2025

Built-in controls prevent over-ordering, and you can route POs based on value thresholds to keep teams aligned with budget control expectations. By embedding policies into workflows, e-procurement systems ensure that purchases are approved based on defined roles and budgets. Where do bottlenecks or errors typically occur?

Real-time Visibility 130

Real-time Visibility Procurement e2e Supply Chain Efficiency 130

ivalua

JULY 8, 2025

They guide users through compliant purchasing paths and automate approvals, ensuring every request aligns with the budget and the organization’s business goals. Purchase requisitions: Enable users to request both catalog and non-catalog items, with automated budget and compliance checks.

Sourcing 130

Sourcing Real-time Visibility e2e Procurement 130

ivalua

JUNE 12, 2025

Misaligned Goals Between Finance, Legal, and Procurement Finance, legal, and procurement often view spend data through different lenses – budget, compliance, or supplier value, for example. For example, a healthcare organization may use quarterly spend trend analysis to adjust purchasing volumes and avoid year-end budget overruns.

supply chain budgeting 130

supply chain budgeting Risk Real-time Visibility Supply Chain Efficiency 130

Supply Chain Game Changer

JULY 19, 2025

Budget constraints are a constant challenge, yet maintaining high product quality is just as crucial. Additionally, fostering strong internal collaboration between procurement, finance, and operations teams will help create a more integrated and efficient workflow. Should you prioritize cost savings or quality? The key to success?

Supply Chain Efficiency 75

Supply Chain Efficiency Procurement supply chain budgeting Agile and Lean Supply Chain 75

Spend Matters

FEBRUARY 13, 2025

However, although Utz Brands enjoys a long and successful history, Ron understood that he had to be prudent and efficient with the dollars available to invest in technology because he did not have the budget that larger competitors have to spend. For the most part, this did not prove a problem.

Influencing 106

Influencing Procurement supply chain budgeting e2e 106

Procurement Software

JULY 6, 2025

Think of common indirect categories: IT infrastructure Facilities management Capex for machinery & equipment Property maintenance Fabricated spare parts Promotional goods All of these require skilled negotiation to avoid costs that would otherwise hit the company’s budget.

Procurement 52

Procurement supply chain budgeting Supply Chain Efficiency Budget 52

Spend Matters

JUNE 16, 2025

While often treated as an administrative task, expense management has direct implications for budgeting, financial forecasting and working capital planning. This phase examines: How differing objectives around expense policy, reporting and budgeting impact financial accuracy.

Real-time Visibility 110

Real-time Visibility Management Procurement Budget 110

Spend Matters

MAY 19, 2025

Each function’s objectives often overlap, particularly in areas such as financial reporting, cost management, budgeting and data-driven decision making, so when procurement strategies align with finance-led initiatives, organizations gain greater financial visibility, improved efficiency and stronger risk control.

Collaboration 90

Collaboration Procurement Real-time Visibility Budget 90

SCMDOJO

MARCH 24, 2025

A favorable variance indicates that the company is spending less than planned, whereas a positive outcome means the company is spending more than the planned budget. 2) Planning & Budgeting Planning is a crucial part of any business activity. Why is Purchase Price Variance (PPV) Important?

Price 69

Price Purchasing supply chain budgeting Raw materials 69

ivalua

MAY 16, 2025

Enhanced visibility allows for greater control over costs and reduces the chance of unexpected budget surprises. Misaligned priorities can delay purchases, inflate budgets, or introduce security risks. For a closer look at the impact of spend transparency, check out our blog on Business Spend Management.

Real-time Visibility 130

Real-time Visibility Procurement e2e Contract 130

ivalua

JULY 3, 2025

Maverick spend – purchases made outside of approved channels – can quickly balloon, wasting budget and exposing the organization to unvetted suppliers. Indirect procurement benefits from automated workflows, guided buying, and budget controls to keep spend within approved parameters.

supply chain budgeting 130

supply chain budgeting Procurement e2e Agile and Lean Supply Chain 130

Procurement Express

DECEMBER 24, 2024

Purchasing is about getting the right stuff at the right time from the right suppliers for a fair price without blowing up your budget or your supplier relationships. Purchase control is the process of managing and regulating business purchases to ensure they align with the organizations budget, policies, and operational needs.

Purchasing 40

Purchasing Purchase orders supply chain budgeting Budget 40

Procurement Software

MARCH 16, 2025

Automated purchase orders, real-time budget tracking, and transparent approval processes help finance teams gain better visibility into spending patterns. If internal stakeholders can easily track order status, access budget reports, submit purchase requests without lengthy email chains, its a great start.

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency Purchase orders 52

TYA Suite

OCTOBER 27, 2024

Businesses should evaluate different options based on their needs, budget, and scalability. It enables accurate tracking of expenditures, budget forecasts, and financial reporting. , This includes identifying the key features and functionalities that are essential for their procurement processes and vendor management.

supply chain software solutions 40

supply chain software solutions Supply Chain Efficiency Management Procurement 40

TYA Suite

JUNE 12, 2025

Based on parameters like budget limits, department, or item category, the system automatically forwards the request to the right stakeholders. This could include checking vendor certifications, contract validity, budget limits, and approval levels. This eliminates bottlenecks and ensures compliance with internal controls.

Real-time Visibility 40

Real-time Visibility Procurement e2e Procurement team 40

TYA Suite

JUNE 12, 2025

Rather than relying on informal channels like emails or phone calls, a structured intake process uses standardized forms or digital tools to gather key information such as item specifications, quantity, budget, timeline, and justification. This expedites the review and approval processes while also increasing accuracy.

Procurement 40

Procurement Real-time Visibility supply chain budgeting Supply Chain Efficiency 40

Spend Matters

MARCH 25, 2025

However, the reality is that stakeholders, including budget owners, business units, etc., Procurement teams should also establish transparent governance structures that define decision-making authority, clarify procurements involvement in budgeting and supplier selection and outline compliance and performance tracking expectations.

Stakeholder engagement 98

Stakeholder engagement Management Procurement Supply Chain Efficiency 98

Fraxion

JULY 9, 2025

More often the signs are n ot immediately obvious : delayed approvals, budget surprises, inconsistent vendor pricing, and overwhelmed accounts payable (AP) clerks. If you’ve ever said, “We didn’t realize we were over budget until it was too late,” or “Why are we buying from five different vendors for the same item?”

Procurement 52

Procurement Strategy Budget Price 52

Procurement Insights

NOVEMBER 18, 2024

If budget allows, McKinsey and Gartner offer unparalleled depth for large-scale needs. Ethical and Behavioral Challenges : Jon Hansen leads with critical perspectives and forward-thinking ideas. Accessible and Practical : Kelly Barner delivers relatable insights and industry overviews for professionals at all levels.

Supply Chain Efficiency 40

Supply Chain Efficiency supply chain budgeting supply chain software solutions Ethics 40

Procurement Express

MARCH 14, 2025

From creating purchase orders to processing invoices and tracking expenses, these solutions give you better control over your budget and ultimately, boost your bottom line. Purchasing software eliminates these issues by automating approvals, enforcing budgets before purchases happen, and giving finance teams complete control over procurement.

Real-time Visibility 52

Real-time Visibility Procurement Purchase orders Budget 52

Spend Matters

FEBRUARY 5, 2025

Lets explore these aspects. Driving change with effective change management strategies You dont need a digital strategy.

Procurement 115

Procurement Change management Strategy supply chain budgeting 115

Jaggaer

FEBRUARY 28, 2025

Mark Roberts was previously Commercial Director for the Metropolitan Police Service in London, the largest Police Force in Europe, with income contracts of 300m and an expenditure budget of 850m. Prior to this, he was the first Commercial Continuous Improvement Director for the Government Commercial Function.

Procurement 52

Procurement Real-time Visibility Contract Suppliers 52

Spend Matters

MARCH 25, 2025

AWS Cost Explorer and Budgets, integrating AWS Marketplace expenditures into broader financial management tools. Spend and cost management Procurement Insights Dashboard, providing an overview of agreements and expenditures. Cost allocation tagging, allowing organizations to categorize and track software expenses.

Procurement solutions 99

Procurement solutions Procurement Purchase orders Data 99

TYA Suite

JUNE 2, 2025

It is examined for need and budget. It includes essential details such as item names, specifications, quantity, required delivery date, budget codes, and justification for the purchase. These records are necessary for internal audits, budget tracking, performance evaluation, and legal compliance.

Purchasing 40

Purchasing supply chain budgeting Purchase orders Quantity 40

ivalua

JUNE 5, 2025

Without strategic procurement guiding the way, purchasing becomes reactive and focused only on cost savings in procurement instead of adding value, which can lead to budget overruns and missed opportunities. Poorly managed supplier relationships can lead to delivery delays, compliance failures, and reputational risk.

Purchasing 130

Purchasing Risk Procurement e2e 130

Jaggaer

MARCH 20, 2025

Community colleges, public universities, and private institutions alike must navigate the potential for budget cuts, shifts in federal aid programs, and changing regulatory requirements. Budget Shortfalls First, the good news. Here are seven challenges that your institution might be tackling: 1.

supply chain budgeting 52

supply chain budgeting Procurement Budget Supply Chain Efficiency 52

Spend Matters

FEBRUARY 27, 2025

If all you have is an ERP system and no budget, you have to make the most of what you have, and Ive seen this in some companies. Even though the AI and automation tools of today can make it an easier exercise providing you have the budget its crucial that you get your data in order first. Dirty data will only sabotage your mission.

Procurement 77

Procurement Real-time Visibility Change management Suppliers 77

Procurement Software

MAY 18, 2025

This makes them accessible even with limited budgets. Today’s technology landscape offers solutions for every budget and maturity level. Then gradually incorporate specialised procurement solutions as budget allows. User-friendly interfaces require minimal training.

Procurement 52

Procurement Contract Cost of ownership Budget 52

Spend Matters

JUNE 26, 2025

This year’s findings present a picture among ‘Digital Masters’ of a decisive upswing in investment in procurement technology to the tune of 20% of their budget – nearly twice that of 2023. Pierre attributes these masters becoming ‘agents of change’ to “making smart bets on a portfolio of iterative self-funding cross-functional projects.”

Procurement team 69

Procurement team Procurement Agile and Lean Supply Chain supply chain budgeting 69