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A common thread among the conversations we’ve had recently with senior procurement practitioners tells of the extent to which attitudes towards risk have changed over the past decade. According to one procurement leader we spoke to, all that changed around 2020. That statement couldn’t be less true today. It is very complex.”
Redwood City, CA, July 13, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces an extension of its Procure-to-Pay solution with a new Inventory Collaboration capability. Procurement and other business users will be empowered to make more informed buying and planning decisions with the help of: .
This article serves as the executive summary of a six-part series built for finance and procurement leaders aiming to strengthen their organizations cash flow management and liquidity position. Cash flow management is no longer an isolated finance function, it requires end-to-end coordination across teams and systems.
Finance and procurement play critical roles in shaping an organizations financial health and operational efficiency. This series shapes a five-phase approach to aligning finance and procurement. Technology is a powerful enabler of finance-procurement collaboration, bridging gaps in spend visibility, cost control and data integration.
We continue our Procurement Transformation Guide with a look at implementing an e-procurement transformation. Procurement has moved beyond a transactional function. Many organizations attempt to digitize broken procurement workflows, which only accelerates inefficiencies.
Artificial intelligence use in procurement isnt a distant dream its here, reshaping how procurement professionals work. From simple automations that save time to sophisticated strategies that drive major business value, embedding AI in your business processes can provide immense value. But where should you begin?
We introduced our series on aligning finance and procurement for cash flow optimization and liquidity in this Executive Summary. We then outlined the components of Phase 1: Understanding the Foundations , looking at the differing priorities of finance and procurement and how they might be aligned.
Procurement is at a crossroads. The days of relying solely on traditional processes to manage suppliers, contracts and spend are quickly fading. Supply chains are more complex than ever, stakeholder expectations are soaring and the sheer volume of data that procurement teams must sift through is overwhelming.
In our In-Depth Guide , we introduce our series which is based on the critical roles finance and procurement play in shaping an organizations financial health and operational efficiency. Without this, procurements financial impact may go unmeasured, while finance may lack visibility into supplier costs and risks.
Procurement has long sought a strategic seat at the table. The modern procurement leader must manage risk, drive ESG, deliver cost savings and enable innovation often without additional headcount or budget. Against this backdrop, a new model is emerging: procurement as Orchestrator of Value.
Businesses must find effective ways to strengthen their networks and improve flexibility to maintain stability during uncertain times. One of the most effective strategies for building resilience is integrating project management into supply chain operations. A well-managed supply chain does not just survive crises it thrives in them.
Procurement success in 2023 with our Strategy Course Download Course Details → Or receive our famous weekly newsletter What Are the Benefits of Having a Transport Management System? A transport management system is an innovative software used to make the transportation of goods and services throughout a company more efficient.
Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data. The success of the Procurement team at Utz Brands, Inc.,
Spend Matters honors a vast array of procurement solution providers each year by selecting them for our ‘50 to Know,’ ‘50 to Watch,’ ‘Future 5’ and ‘Hall of Fame’ celebration lists. We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices.
In the Executive Summary to this use case series on aligning finance and procurement for cash flow optimization and liquidity we examined five phases that help organizations break down silos, align priorities and build the operational and technological capabilities needed to manage cash more effectively.
We introduced our series on aligning finance and procurement for cash flow optimization and liquidity. We then outlined the differing priorities of finance and procurement and how they might be aligned and identified misalignments between finance and procurement. Step 1: Define the problem Why does the misalignment matter?
Modern procurement needs have far surpassed transaction management; procurement is now a critical component in driving strategic value across businesses and AI has become a key tool in procurement teams back pockets. In short, AI is making manufacturing procurement faster, smarter and more resilient than ever.
Its increasingly evident: GenAI is no longer a future concept; its already reshaping operations in realtime. Yet within many procurement functions, a fundamental question persists: Are we truly prepared to lead in this AI-powered future? To address this shift, ProcureAbility has partnered with dSilo.AI
Following on from Phase 4 Leveraging technology to bridge the Finance-Procurement gap of our In-Depth Guide to aligning finance and procurement, Phase 5 looks at how to measure and sustain that success. Tracking performance over time is key to measuring the business value the collaboration is delivers.
Spend Matters honors a vast array of procurement solution providers each year by selecting them for our ‘50 to Know,’ ‘50 to Watch,’ ‘Future 5’ and ‘Hall of Fame’ celebration lists. We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices.
Spend Matters has been speaking with procurement practitioners and solution providers to get a wide view of how procurement and digital transformation is happening in the real world. We wanted to ask her what she has witnessed as the main motivator for procurement transformation. Her first piece of advice would be: Dont.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter InventoryManagement — Everything You Should Know Inventorymanagement enables companies to ensure that they always have enough stock to fulfill customer orders. However, what is it?
Modern Spend Management and Accounts Payable software. How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's PLANERGY? How to report and analyze indirect spend to identify savings opportunities.
But once again, is Practical Procurement Utilization taking a back seat to Progressive AI Theories? That said, I thought it would be interesting to compare our respective backgrounds in the context of procurement and supply chain focus, and more specifically, the practical application of AI, Generative AI, and Agentic AI.
Running a business means making wise financial choices, including managing money, goods, and services. Thats where QuickBooks procurement software comes in. QuickBooks doesnt offer a dedicated procurement tool. What is QuickBooks procurement software? But heres the catch. The result? But not all tools are created equal.
Understanding how inflation impacts procurement and then taking action to mitigate its effects is essential for any business looking to stay ahead of the game. How Inflation Impacts Procurement Inflation affects a number of aspects of a business, including its ability to compete in the market, financial performance, and overall strategy.
Best-in-Class for Healthcare Supply Chain Management? Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? What are the pros and cons, and what supply chain strategy will pave the way to higher margins, improved supply chain risk management in healthcare and improved patient care?
In this Spend Matters Vendor Analysis we provide an overview of BeNeering and its solution for e-procurement. Procurement organizations often encounter challenges such as limited user adoption, increased workload for purchasing teams, fragmented procurement processes and the complexity of integrating multiple ERP systems.
Using a procurementmanagement system is one practical strategy to strengthen these connections. This comprehensive guide explores what procurementmanagement software is, its key features, its role in vendor relations, its integration with business processes, and the benefits it offers.
Digital procurement tools offer both immediate benefits and long-term returns. While full-scale digital transformation certainly takes time, organisations can see rapid improvements in efficiency, collaboration, and data accuracy right from the outset. As a result of better data, procurement teams gain a whole range of benefits.
Managingprocurement manually can be fraught with challenges such as delays, human errors, and lack of visibility. Enter procurementmanagement software, a game-changer that can streamline and optimize the entire. The typical procurement cycle includes: Determining the products or services required.
When you look behind the scenes of a global business operation, procurement strategy and supply chain management are usually top priorities, though theyre not always working in sync. This blog explores procurement vs supply chain strategy and looks at how aligning the two leads to operational excellence.
Opportunities for Procurement Technology As we look toward 2025, European businesses are reshaping their supply chains to navigate an increasingly complex global landscape. A recent report by Maersk and Reuters Events highlights that 68% of companies are making supply chain visibility and monitoring solutions a top priority.
33 Procurement Interview Questions in 2022. Spend Management — The Ultimate Guide of 2023. Spend management is an important process to reduce losses and mistakes. However, how do you manage your spending? In this article, we will discuss what spend management is. What is Spend Management?
In our latest study of UK-based procurement, supply chain and finance professionals, we found that 60% of UK businesses have decreased investment in sustainability initiatives as a result of the coronavirus outbreak. Lack of visibility hindering sustainability progress. Procurement needs to get smarter. View infographic.
The world of procurement is constantly evolving, demanding professionals with the right skills and knowledge. Moreover, two popular options often considered are the MCIPS qualification from the Chartered Institute of Procurement & Supply (CIPS) and the Procurement Track offered by SCMDOJO.
If you live in a city, state or country, which everybody does, your life and the lives of your family and friends is impacted directly by Procurement. No, I’m not referring to the Procurement department of your company (although, if Ivalua has anything to do about it, there are lots of interesting things happening there too).
In an era where digital transformation is reshaping industries, government procurement is no exception. Advanced technologies such as AI, automation, and predictive analytics are playing a pivotal role in optimizing procurement processes, enhancing transparency, and driving efficiency.
Procurement Priorities for 2025 and Beyond The manufacturing industry is evolving rapidly, leaving Chief Procurement Officers (CPOs) grappling with challenges that could make or break their organizations. Amid economic uncertainties and geopolitical shifts, procurement leaders face mounting pressure to drive sustained growth.
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react.
Like it or not, Procurement and Supply teams are in the midst of a digital revolution that looks set only to advance. So whats the challenge for Procurement, and why is it tougher for Procurement than many other functions (like HR or Finance) to make tech work for them? Time and resources can also be a stopping point.
18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details → Or receive our famous weekly newsletter Integrated Logistics — What You Should Know Integrated logistics is gaining popularity throughout the years to the point of replacing the traditional logistics concepts. However, what is it?
Procurement Strategy Take the lead with our proven 5-step procurement strategy 3. Sustainable Procurement Maintain high profitability while moving toward sustainability 4. ChatGPT & AI Use ChatGPT to automate procurement processes 5. Negotiation Course Learn from industry experts who negotiated billion $ deals 2.
Top 3 Procurement Technologies to Embrace in 2025 Staying ahead of key procurement technology and advancements is essential for CPOs who want to improve spend cost reduction, drive strategic value, and navigate the increasingly complex procurement landscape.
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