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The Role of Spend Analysis in Strategic Sourcing: A Complete Guide

Empowering CPO

Introduction Welcome to our complete guide on the role of spend analysis in strategic sourcing. In the ever-evolving world of business, strategic sourcing has become a linchpin in corporate success. But how do we fuel the engine of strategic sourcing? The answer lies in the powerful tool of spend analysis.

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It’s Time to Rethink Supply Chain Risk Management

ivalua

Loss of sales and market share are the most visible and measurable impacts. Under pressure to quickly identify new sources of supply, due diligence has–at times been reduced, thereby increasing the likelihood of quality issues, unknowingly supporting forced labor, or exposing organizations to fraud. Few knew until impacted.

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The Impact of Digital Transformation on Spend Analysis

Empowering CPO

Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility. Data Integration and Visibility: Connecting disparate data sources, such as procurement systems, supplier databases, and financial records, to create a centralized and holistic view of procurement activities.

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How to succeed with eAuctions: An essential guide

Procurement Software

These negotiations take place in real time, with all prospective suppliers at once. This saves buyers not only money, but hours of conversation time. Live, and within an allotted time period, suppliers lower their prices against the nearest competitor in order to win your business.

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CPO SPOTLIGHT: STEPHEN DAY

Procurement Heads

Our Coupa Supplier Portal is now running 55% of our group spend and by the summer it will be up to 75%, that is three part – source to contract, information model and the procure to pay. We have an amazing analytics dashboard, which gives us visibility on spend and suppliers’ contract duration, supplying really important insight.

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The Advantages and Disadvantages of ERP Systems

Una

The ERP “one source” database contains all the information needed to run the business, as well as various modules that correspond to different business functions, such as finance, manufacturing, human resources, customer relationship management, and procurement. Customization : ERPs are not off-the-shelf products.

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HR Digital Transformation: How to Implement Key Changes and Succeed

Pipefy

HR professionals are using digital transformations to phase out repetitive paperwork and increase face time with the employees who need them. Businesses that make the transition to digital tools to increase efficiency see huge benefits like: Visibility. With automated tasks, HR gets it right, every time. Time savings.