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Procurement transformation 2025: Why invest in procuretech and how to make the case – Tipalti

Spend Matters

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. Approval lead time is another important metric.

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Procurement vs Purchasing: Key Differences, Workflows, and Enterprise Risks

ivalua

Technology unifies procurement and purchasing, improving visibility, compliance, and workflow automation. Procurement is the end-to-end process of identifying business needs, sourcing goods and services, negotiating contracts, and managing supplier relationships over time. What is Procurement? Explore Ivalua’s Procure-to-Pay software.

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Creating Tail Spend ROI Through an Improved Buyer Experience

ivalua

Lack of control or visibility into what is being spent and with which suppliers. Budgeting challenges as tail spend typically often not planned for . Once you have visibility into your tail spend, you can look at patterns. The post Creating Tail Spend ROI Through an Improved Buyer Experience appeared first on Ivalua.

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AI in procurement: How different industries are harnessing its power

Spend Matters

Thats where AI steps in, offering a proactive approach to predicting supplier lead times and optimizing demand forecasts for buyers. It is not only reducing spending on spare parts and improving inventory management, it is helping manufacturers create digital twins of their machinery to anticipate breakdowns before they happen.

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ERP vs. Best-in-Class — What is Best for Managing the Healthcare Supply Chain

ivalua

Additionally, a purpose-built solution will enable you to measure and monitor buyer adherence to compliance purchasing, ensuring your team is taking advantage of preferred items and reaping the rewards of the contracts you have in place. In fact, 74% of ERP implementations go Over Budget and they take longer to roll out.

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Digital success – What makes procurement’s challenge so different?

Spend Matters

Time and resources can also be a stopping point. Procurement also has to deal with maverick spend, and persuading employees, buyers and suppliers not to get around the adopted process is hard when its an easier option than sticking to sometimes archaic systems and elongated processes. Adoption will not happen automatically.

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10 Digital Procurement Quick Wins

Procurement Software

While full-scale digital transformation certainly takes time, organisations can see rapid improvements in efficiency, collaboration, and data accuracy right from the outset. Automated approvals, chat-based collaboration, and real-time notifications ensure that key stakeholders stay informed without inbox overload.