article thumbnail

7 Spend Analytics Software for Mid-Market Businesses

Procurement Software

Located in Amsterdam, Netherlands, the company leverages advanced AI technologies to enhance procurement processes, focusing on efficiency and data visibility. What sets Mithra-AI apart is its real-time, continuous visibility of spend data, coupled with proactive alerts for opportunities and risks.

article thumbnail

Reducing Construction Costs & Improving Sourcing Efficiency with Predictive Procurement

Arkestro

The workforce shortage reached half a million this year , and many sectors continue to grapple with increased lead times, and volatile material costs. At the same time, the number of young, able-bodied construction workers has decreased by 8% over the past decade, further exacerbating the industry’s labor shortage.

professionals

Sign Up for our Newsletter

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

article thumbnail

New Year Insights for the procurement solutions and services marketplace 2024: GEP

Spend Matters

AI can help create greater efficiency and value across all source-to-pay processes, including spend analysis, opportunity identification, sourcing and contract management, category management, supply relationship management and risk management.

article thumbnail

Managed Procurement Services: A Strategic Approach to Cost Reduction

Empowering CPO

In essence, it’s a critical business function that ensures the right goods and services are available at the right time, in the right quantities, at the right price. Real-World Examples of Companies Benefiting from These Services Several companies have experienced the transformative power of Managed Procurement Services.

article thumbnail

Innovative Procurement Models: Exploring Different Approaches

Empowering CPO

It is a strategic process that involves identifying business needs, sourcing suppliers, negotiating contracts, managing supplier relationships, and ensuring the timely delivery of high-quality products or services. Category management can lead to better supplier selection, improved negotiation, and enhanced value delivery.

article thumbnail

Benefits of a Group Purchasing Organization

Una

A guide to exploring the benefits of working with a group purchasing organization to save money, time and effort. GPOs also bring balance to the negotiating equation because they already have relationships and contracts in place with vendors and suppliers. Benefits of a Group Purchasing Organization. Savings and beyond.

article thumbnail

Ultimate Guide to IT Procurement

Una

It’s impossible to have the most current or newest application implemented at all times. Lack of visibility into spend and contract data also contribute to the difficulty of managing IT spend. There are times when cost reduction is a priority but the IT procurement process should take other factors into account as well.