This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
This guide breaks down the key procurement technologies in use today and the trends reshaping the future, such as AI-driven sourcing, predictive risk management, and deeper integration across the supply chain.
Originally published in the 2022 ProcureCon Report “Transforming Procurement: Embracing Digital Innovation and Driving Sustainability” Ethical business practices and sustainability initiatives are forcing organizations to not only stand up, but to also set themselves apart from the competition by implementing ESG and CSR commitments.
Ivalua commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study , offering key insights into how companies can unlock substantial financial benefits and operational improvements by adopting Ivalua’s unified Source-to-Pay (S2P) platform. 393% ROI from process automation, better visibility, and replacing old systems.
Enterprise procurement teams face growing pressure to deliver strategic value – managing supplier risk, ensuring compliance, and supporting sustainability – all without sacrificing speed or control. Key Takeaways Legacy procurement processes limit scale, speed, and visibility, making it harder to manage risk, compliance, and costs.
What is Source to Pay (S2P)? Everything You Need to Know End-to-end process and end-to-end solution may be one of the most overworked phrases in business and IT. Yet in the case of source to pay, it is wholly justified. Yet there are good reasons to do so.
At Ivalua, we’ve seen how a Procure-to-Pay business process ensures sustained benefits through good buying practices, improves visibility and swifter issue resolution, and enables proactive management of suppliers. Solution: Automate end-to-end processes. Pain-Point: Manage supplier risk and visibility.
What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.
Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.
A comprehensive Source-to-Pay platform is a critical component of an organization’s IT environment. What is Source-to-Pay? 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.
The more sustainable path lies in structured action planning. Supplier diversification across geographies to reduce dependency on high-risk sources. Building internal alignment across procurement, supply chain, legal and finance to tie sourcing decisions to tariff cost modeling and compliance. That is where technology can help.
When your sourcing team chooses what to buy and who to buy from, are you selecting vendors who share the same social values as your brand? Your customers, employees and shareholders want to know you have a plan to address supply chain sustainability. In this blog, let’s explore the best practices that drive sustainable supply chains.
Enhancing supply chain resilience as well as supply chain visibility is crucial in today’s interconnected world. The powerful concept of Supply Chain Visibility lies at the core of resilience. Supply Chain Visibility refers to tracking and monitoring the movement of goods, services, and information throughout the supply chain.
At Ivalua, we’ve seen how a Procure-to-Pay business process ensures sustained benefits through good buying practices, improves visibility and swifter issue resolution, and enables proactive management of suppliers. Solution: Automate end-to-end processes. Pain-Point: Manage supplier risk and visibility.
Consumers also expect transparency – in product origin, quality standards, and how organizations are improving their environmental and sustainability efforts. . High levels of visibility reduce supply chain risk and address sustainability initiatives, such as tracking a product’s full line of custody. View Webinar Replay.
Just 1% of respondents to a poll Procurement Leaders conducted at the World Procurement Congress said they have “excellent” multi-tier visibility of the supply base. Which leaves 28% of those who responded admitting that the visibility they have is “not great” and, at best, goes as far as Tier-1. This is surprising.
For these reasons, many high-end supply chain organizations are investing their money into visibility solutions to get a better handle on their supply chains. Why is visibility so important? Reduced costs Ultimately, visibility boils down into long-term operational efficiency. Brought to you by the StrategicSourceror.
For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals.
Sustainable Procurement Maintain high profitability while moving toward sustainability 4. Sustainable Procurement Course Maintain profitability while moving toward sustainability 4. These tools allow for automated, integration to suppliers and visibility in procurement data at any time.
Viparis has chosen Ivalua and CKS to equip its Procurement department with a software suite that meets the challenges of an exceptional deadline for the 2024 Olympic Games in Paris and will help sustain the Group’s growth. With Ivalua, we benefit from a fully integrated, end-to-end process that meets this goal perfectly.
Following widely-known standards keeps your vendor options open so you’re not locked into sourcing from a small pool of specialty suppliers that can negatively impact time to market. Value chain : Transparency in operations and across multiple supplier tiers gives you visibility into potential gaps in supply continuity.
Today, for procurement organizations too, applying an AI-first approach has become imperative, especially in the source-to-pay process. Generative AI, in particular, offers transformative potential in optimizing source-to-pay processes. And the maximum value can be extracted from these new tools through strategic integration.
Zycus Overview: A pioneer in cognitive procurement with a GenAI-powered Source-to-Pay suite (Merlin AI), serving large enterprises. Tech Modernization: Automates 70-80% of P2P tasks, cutting $15K-$400K in legacy waste and enhancing visibility across Chevrons operations. Talent Enablement: Conversational AI simplifies workflows (e.g.,
In short, demand latency has increased because supply chains have become more fragmented, buffered, and risk-averse while real consumer demand has grown more volatile and less visible to upstream partners. What are the challenges and where do they arise from sourcing through manufacturing and delivery?
By embedding analytics across logistics, sourcing, and fulfillment, businesses gain the visibility and foresight needed to stay competitive.Analytics-driven leadership is no longer a luxury; it’s the foundation of operational survival in todays volatile business environment. Analytics layers provide that clarity.
Far more than “1+1=2”, it’s a combination of the best Source-to-Pay solution with the market leading dynamic discounting environment, joint customers will be able to capture higher yields from their early payment programs turning them into a strategic revenue stream that grows the bottom-line via the C2FO marketplace. .
Supply chain processes include procurement from source to pay, together with inbound logistics, production, quality control, outbound logistics and post-sales service. Direct material management oversees the sourcing, procurement, storage, and flow of raw materials, components, and subassemblies.
Altana is the world’s first Value Chain Management System – a unified, comprehensive approach that goes far beyond supply chain risk management, with unprecedented visibility, contextualized netrt across business areas, and a collaborative network with end-to-end workflows to get jobs done. 52.14] The future for Altana. “An
Now there are increasingly competitive and political pressures to bolster their domestic production, resume hiring, and minimize or eliminate their reliance on external sources that are perceived as risky. The impending changes include connected, end-to-end, value chains, and more intelligent, automated, and autonomous distribution systems.
However, complex supplier relationships, unreliable sources of material supply, and ever-increasing customer expectations greatly add to the expectations to select the best suppliers and conduct their operations more efficiently. One of these trends, in addition to inventory keeping, is dual/multi-sourcing.
Many large organizations implement a Procure to Pay platform with the aim to deliver efficiency, visibility, simplicity, and compliance. Procurement as end-to-end process owner . while optimizing the needs for efficiency, simplicity, visibility, and compliance. But there are two issues in practice.
Stronger risk management and supply chain resilience Effective collaboration provides greater visibility into potential risks, such as raw material shortages or market disruptions. This could include co-developing new products, sharing market insights, or aligning on sustainability goals.
Configuration is a far more logical and sustainable approach. Our Public Portal provides public access to solicitation, awarded contracts, analytics, and details of the end-to-end bid management process to provide greater visibility, context, and supplier inclusion for active and planned solicitations.
While it may not seem as strategic or high-profile as long-term sourcing deals, operational procurement is essential. Increased sustainability and ethical sourcing Modern businesses are increasingly aware of their environmental and social impact, and operational procurement management is at the forefront of this change.
Why supply chain management matters Supply chain management involves coordinating and managing all the activities involved in sourcing , procurement, conversion and logistics. A supply chain control tower can connect many sources of data-driven information and improve end-to-endvisibility.
The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supply chain management, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.
But what happens when sourcing professionals realize the importance of letting its guard down and begins working alongside other teams? Let’s examine a handful of examples: IT, Sustainability, and Finance. Gain visibility and control of auto-renewing IT contracts, enabling the business to reconsider and renegotiate if necessary.
Following months of debate based on extensive knowledge of the many procurement technologies they have reviewed, analysed and benchmarked, they arrive at a list of five young providers that they believe are innovative and exciting, have a rapidly rising presence in the market, can grow sustainably and which every CPO should have on their radar.
Despite the cataclysmic disruption caused by the pandemic, inertia will prevent real and sustainable progress from being made. Supply Chain and it’s importance is more visible than at any time in history. And having the courage to implement these changes will be the real test of leadership. The pandemic has brought this about.
In August 2020 Gartner published this report “4 Tactics Procurement Can Use to Sustain Influence as Economic Conditions Improve” This blog summarizes the key points of the report which you can read in full, here. Procurement Teams Step-up. When Covid-19 hit, supply chains across the globe nearly came to a halt.
Strategic sourcing remains critical, especially given our inflationary environment. With an increasing influence on operational and financial performance, tracking and managing ESG goals has become a top priority for companies, too, as they look at ways to incorporate sustainability into all points of the supply chain.
Procure-to-Pay (P2P) and Source-to-Pay (S2P) are not just fancy acronyms used by consultants, procurement and finance professionals. Behind these terms are whole concepts of processes that manage how goods and services in your business are requested, sourced, received and paid. What steps are involved in Source-to-Pay?
Suppose you stay ahead of trends like AI optimization, blockchain transparency, and sustainable practices. Top Logistics Trends in 2024 As businesses seek higher efficiency and resilience, the supply chain trends for this year reflect a resumed focus on digitization, sustainability, and agility. billion by 2026.
Working within a resilient global supply chain results in complexities around basic matters like communication, time zones and languages, along with more challenging aspects like risk management, compliance and sustainability. That alone increases efficiency,” he continued.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content