Remove Budget Remove Spend management Remove supply chain software solutions
article thumbnail

Procurement vs. Supply Chain Management: Differences, Challenges & Solutions

ivalua

Procurement and supply chain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. In this blog, we cover the key differences between procurement and supply chain management, and explain where the biggest disconnects typically occur.

article thumbnail

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

ivalua

While the terms procurement and purchasing are often used interchangeably, they address different aspects of an organization’s spend management. Procurement is the strategic, big-picture approach to sourcing and supplier relationship management, while purchasing is the tactical execution of those plans.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Budgeting Process: Steps and Best Practices for Planning a Budget

Planergy

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Using financial tools can help save time and resources while improving accuracy in the budgeting process. Why is Business Budgeting Important? Budgeting should be part of regular financial planning.

article thumbnail

Aligning Finance and Procurement – Phase 4: Leveraging technology to bridge the Finance–Procurement gap

Spend Matters

Technology is a powerful enabler of finance-procurement collaboration, bridging gaps in spend visibility, cost control and data integration. Without the right tools, procurements contributions to financial strategy can remain disconnected from budgeting, forecasting and risk management.

article thumbnail

How to Improve Your Indirect Spend Management Strategy

Procurement Express

Facilities management : Maintenance, cleaning, and security services. IT services : Software subscriptions, cloud storage, and tech support. Understanding these categories is the first step toward better visibility, smarter procurement processes, and tighter budget control. Create vendor and supplier expense management policies.

article thumbnail

Supply Chain Disruptions in Schools: Challenges and Solutions

Planergy

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. How better management in AP can give you better flexibility for cash flow management. But what happens if those supply chains are disrupted?

article thumbnail

Expanding the influence and impact of Procurement

Spend Matters

Identifying the need for foundational technology and processes Before joining Utz as its SVP Procurement, Ron had been consulting with the Supply Chain department working on a number of different projects. Instead, he noted, we had to choose our solutions in a more targeted and perhaps even piecemeal fashion.