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

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

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

Supply Chain Game Changer

JULY 19, 2025

Budget constraints are a constant challenge, yet maintaining high product quality is just as crucial. Staying informed about global trends and regulatory changes can also help you proactively adjust your procurement strategy. Should you prioritize cost savings or quality? It’s an age-old procurement dilemma: cost vs. quality.

Supply Chain Efficiency

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

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

Procurement Software

MARCH 16, 2025

By automating routine tasks, streamlining communication, and centralising information in one single source of truth, you create tangible quick wins. They can make informed decisions, negotiate more effectively, and identify cost-saving opportunities faster. As a result of better data, procurement teams gain a whole range of benefits.

Procurement

Spend Matters

MARCH 25, 2025

AWS Cost Explorer and Budgets, integrating AWS Marketplace expenditures into broader financial management tools. Vendor Insights, providing compliance and security information for AWS Marketplace vendors. Spend and cost management Procurement Insights Dashboard, providing an overview of agreements and expenditures.

Procurement solutions

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

TYA Suite

OCTOBER 27, 2024

By having access to detailed supplier information and performance metrics, organizations can make informed decisions and build stronger, more collaborative relationships with their suppliers. Businesses should evaluate different options based on their needs, budget, and scalability.

supply chain software solutions

Spend Matters

FEBRUARY 5, 2025

These terms are often used interchangeably, but they represent distinct concepts which are important to have in mind: Digitization refers to converting analog information into digital formats, such as scanning paper invoices. Weve all heard the buzzwords: digitization, digitalization and digital transformation. Lets explore these aspects.

Procurement

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

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

Procurement Software

MAY 18, 2025

Ask an LLM to summarise industry reports or compile information about specific vendors. These tools excel at organising scattered information into actionable insights. This helps you make informed decisions without extensive research time. This makes them accessible even with limited budgets.

Procurement

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

Arkestro

DECEMBER 5, 2024

Enables Optimal Decision-Making Predictive Procurement’s real-time, data-driven insights enhance decision-making, enabling procurement teams to make informed decisions quickly. By partnering with Arkestro, procurement teams are making quicker and better-informed decisions that better equip them to react to unexpected black swan events.

Supply Chain Optimization

ivalua

MAY 30, 2025

AI agents are autonomous or semi-autonomous systems that use artificial intelligence (AI) to perform tasks, inform decisions, and interact with other systems or users with minimal human input. As they receive new information, they can adjust their actions to outcomes for things like supplier negotiations, risk management, and spend analysis.

Procurement

ivalua

MAY 30, 2025

AI agents are autonomous or semi-autonomous systems that use artificial intelligence (AI) to perform tasks, inform decisions, and interact with other systems or users with minimal human input. As they receive new information, they can adjust their actions to outcomes for things like supplier negotiations, risk management, and spend analysis.

Procurement

Supply Chain Game Changer

JUNE 9, 2025

Check their websites for information on their product range, certifications, and contact details. While you don’t want to compromise on quality, finding a distributor who offers competitive pricing can significantly impact your project’s budget. Request quotes from multiple distributors for your required components.

supply chain budgeting

Procurement Insights

NOVEMBER 18, 2024

Choosing the best source for procurement and supply chain information and practical guidance depends on your organization’s needs, the type of advice you seek, and the stage of your procurement transformation. If budget allows, McKinsey and Gartner offer unparalleled depth for large-scale needs.

Supply Chain Efficiency

ivalua

JUNE 9, 2025

Inefficiencies are baked into the procurement process, wasting time and budget while leaving the door open to errors such as missed deadlines or incorrect orders. With critical information spread across emails, spreadsheets, and outdated platforms, getting a clear, timely picture is virtually impossible.

Sourcing

ivalua

JUNE 17, 2025

Source-to-Pay Digitization Accelerated Powerful Source-to-Pay platforms can help digitize, streamline and automate procurement processes, deliver insights into spending patterns and thus help make more informed decisions. When evaluating a new solution, they take into account budget as well as expected usage patterns.

Sourcing

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. POs) are generated automatically using standard templates and accurate supplier information. This eliminates bottlenecks and ensures compliance with internal controls.

Real-time Visibility

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. More than two-thirds prioritize greater visibility into the supply chain and two-thirds on enhancing supplier information sharing and collaboration.

Procurement team

Jaggaer

FEBRUARY 28, 2025

With the kind of scenario modelling used in clean-sheet analysis, we can simulate alternative service or supply configurations to assess how changes impact cost and service quality, ensuring informed decision-making. Prior to this, he was the first Commercial Continuous Improvement Director for the Government Commercial Function.

Procurement

TYA Suite

APRIL 13, 2025

Think of it as a roadmap that guides a purchase order through the right handsfrom the employee who needs the item to the manager who approves the budget, and finally to the finance team that processes the payment. It ensures purchases are necessary, fit the budget, and follow company rules, preventing overspending or mistakes.

Purchase orders

TYA Suite

NOVEMBER 15, 2024

Building strong relationships fosters transparency and encourages suppliers to share information about their operations, helping to identify potential risks. Establishing open lines of communication helps both parties stay informed about any changes or potential risks. This leads to more accurate budgeting and financial stability.

Risk management

TYA Suite

JUNE 22, 2025

Procurement analytics is the process of gathering, examining, and interpreting information about a business's purchasing operations. Procurement analytics is the process of gathering, examining, and interpreting information about a business's purchasing operations. KPIs monitor procurement performance and analytics' effects.

Procurement

Spend Matters

JULY 3, 2025

In the same report, Hackett projects a 10% increase in procurement workload in 2025 but just 1% in budget growth. Instead of relying on tribal knowledge or rigid rules, procurement can draw on systems that improve through experience. This represents a 9% efficiency gap that GenAI and agentic systems are expected to help close.

Procurement

Spend Matters

APRIL 15, 2025

In the list he outlines the key skills/roles for each area of the project (not exhaustive): Project Management : Executive Sponsor, Project Manager (PM), Project Control Officer (PCO), Integration Lead Procurement Expertise : Procurement Process Lead, Procurement Analyst, Subject Matter Experts (SME), Super User(s) Information Technology Expertise (..)

Procurement

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

SCMDOJO

JUNE 11, 2025

For teams seeking to build these analytics capabilities from the ground up, the Supply Chain Information Systems (SCIS) for Success course provides essential training. Teams can work on budgets, delivery schedules, and technical specifications at the same time, automatically seeing the changes made.

Supply Chain Efficiency

Supply Chain Game Changer

JUNE 11, 2025

From planning and logistics to packing and transportation, a commercial move requires careful financial planning to ensure a smooth transition without breaking the budget. By understanding the factors contributing to commercial relocation costs, businesses can make informed decisions and effectively manage their budget for a successful move.

supply chain budgeting

Barkers Procurement

JANUARY 7, 2025

Then, based on the impact each project promises, a budget is allocated. Gauging this potential and, therefore, budget allocation, however, is highly dependent on an external variable: carbon datasets. Upstream data must inform the choice of the best material, so its imperative that this data be accessible.

supply chain budgeting

Spend Matters

APRIL 29, 2025

Figure 1 For more information on this benchmark and to explore additional insights check out our latest Spend Matters SolutionMap Release Spring 2025 Phase 5: Sustaining Success with Shared KPIs Long-term success depends on measurement.

Real-time Visibility

Jaggaer

FEBRUARY 20, 2025

JAGGAER One has been focused on presenting the market with a fully integrated source-to-pay solution that is held together with orchestration software and supported across the whole spectrum by supplier intelligence, i.e. internal information about suppliers supplemented by third-party data feeds.

Sourcing

Supply Chain Game Changer

JUNE 30, 2025

Sensitive supply chain data, such as customer order information and logistics partner data , are always secure leading to better customer experiences and logistics partner relationships. Budget concerns and other business conditions might make this impossible.

supply chain budgeting