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7 Spend Analytics Software for Mid-Market Businesses

Procurement Software

Spend analytics software would be the first tech investment I’d make in a greenfield Head of Procurement role. To do this quickly and efficiently, spend analytics software is your best friend. This usually justifies the business case to invest in spend analytics software to categorise this quickly and more easily.

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Procurement Playbook

Procurement Templates

Key components typically found in a procurement playbook include: Procurement policies and procedures: Clearly defined rules and regulations governing procurement processes, such as vendor selection criteria, bidding procedures, and contract management protocols. I curate best book marks so you don’t need to hunt around!

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Strategic Procurement — Everything You Should Know

Procurement Tactics

Category Management Category management sorts your spending into areas with the same supplier markets. Supplier Management Supplier management involves the handling of relationships between suppliers and the company. It can also help you with contract management and compliance processes.

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Q4 2023 Insider roundup: A deep dive into procurement tech market movements; updated coverage of 15 vendors

Spend Matters

While it is best known for its end-to-end CLM for legal, procurement, sales and risk teams, CobbleStone Software ’s capabilities also touch on sourcing and e-procurement, giving it broad coverage of procurement processes. It makes the invisible visible through discovery and continuously monitors key issues to supply chain risk.

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How will Generative AI in Procurement impact us?

Procurement Software

It will take time before we have dedicated generative AI-driven procurement software. Generative AI’s current impact in procurement is best illustrated by tech-savvy procurement category managers leveraging apps like ChatGPT and Bard to streamline the execution of routine tasks. Let’s look at each one separately.

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3 Key Steps to Increase Operational Efficiency in Procurement

Procurement Software

Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical Category Manager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time.

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6 Essential Procurement Training Courses for Professionals: How To Begin and Advance Your Career in Procurement

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Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management. Take into account things like your current skill level, desired improvement areas, and professional objectives.