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

ivalua

Key Takeaways Procurement vs Purchasing: Procurement is a strategic function focused on long-term value, while purchasing handles the tactical execution of buying. Aligning procurement and purchasing ensures efficiency, cost control, and reduced risk across the organization. What is Procurement?

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AI in procurement: How different industries are harnessing its power

Spend Matters

Across industries, AI is capable of reshaping procurement, making it smarter, more predictive and highly efficient. In this article we will highlight some of the key changes AI has made to procurement strategies in the following industries: manufacturing and industrials, life sciences and healthcare, and the public sector.

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Financial Supply Chain —  The Ultimate Guide of 2023

Procurement Tactics

Financial supply chain or supply chain finance describes a set of technology-based solutions that helps lower financing costs and enhance the business experience for sellers and buyers connected in sales transactions. . While suppliers can gain quick access to money the buyer owes them, the latter can get more time to pay their balances.

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Contract Lifecycle Management Software — The Ultimate Guide

Procurement Tactics

Most of this software is designed to provide visibility into corporate spending, create ways in making the contract process efficient, and lower administrative costs. As an end-to-end contract management platform, it offers templates and a template editor to create contracts. Juro offers a free plan with great functionality.

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Spend Matters Future 5 2023 – Introducing akirolabs

Spend Matters

We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices. The process we ended up digitalizing,” Michael concludes, “was the strategic procurement process.” akirolabs derives procurement strategies from the overarching business strategy.

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Let’s Get Digital: Introducing your Source-to-Pay Guide

ivalua

Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. ​ The Source-to-Pay process itself is quite broad but it covers most if not all the aspects of a procurement organization, at least from a process and technology perspective.

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Get Started on Your Procurement Transformation Roadmap and Strategy

Pipefy

A procurement transformation roadmap serves as a detailed brief of steps, timelines, risk planning, communication and collaboration needs or changes, and resources — whether it’s people or technology — that are required to achieve procurement transformation and sell the final vision to key stakeholders, such as leaders and procurement teams.