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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.

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Financial planning & budgeting: Navigating the Budgeting Paradox

IBM Supply Chain Blog

Budgeting, an essential pillar of financial planning for organizations, often presents a unique dilemma known as the “Budgeting Paradox.” ” Ideally, a budget should give the most accurate and timely idea of anticipated revenues and expenses. It’s not about dismissing traditional budgeting.

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What is zero-based budgeting?

IBM Supply Chain Blog

Zero-Based Budgeting (ZBB) is like solving a financial puzzle. Instead of relying on the previous year’s budget, ZBB requires you to evaluate and justify every expense from the ground up, justifying its necessity and alignment with strategic goals. Learn more about IBM Planning Analytics What is Zero-Based Budgeting?

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Supply Chain Forecasting — Everything You Should Know

Procurement Tactics

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Supply Chain Forecasting — Everything You Should Know Supply chain forecasting is about making predictions from both past and present information. What is Supply Chain Forecasting?

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The business case: how to get a budget for procurement tech

The Procuretech Podcast

In this episode of The Procurement Software Podcast, host James Meads announces the rebranding of the podcast and explains the reasons behind it. Furthermore, the podcast advocates for a value-driven approach over merely cost-saving, urging consideration of technology's impact on both the top and bottom lines. Stay in touch!

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Procurement Software Trends to Keep Track Of in 2022

ProcurePort

It’s clear that businesses need more resilient supply chains to continue fulfilling business procurement needs. Managers need to make most of the budgets availed to them by investing in the right people, technology, and processes. They […].

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Supplier Order Management Software – Everything You Should Know

Procurement Tactics

However, with the advancement of technology, businesses now have access to software that simplifies and automate the entire order management process. In this article, we will explore what supplier order management software is, its benefits, and some of the best software options available in the market.