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 supplychain. Your procurement technology platform should help unify data and processes across tiers to avoid disruptions.
Unfortunately, outdated tools and fragmented processes make it difficult to maintain visibility across the supplychain and adapt at the pace of business. This blog explores the most common challenges in digital procurement and the capabilities that matter most.
As Procurement teams are tasked to do more with less in an increasingly complex and uncertain market, digitization has become a must. Procurement leaders have increasingly turned to Spend and Supplier Management platforms to improve decision-making, efficiency and collaboration. What is Total Economic Impact?
Understanding these differences is essential for businesses that want to optimize operational efficiency and safeguard against costly errors. Key Takeaways Procurement vs Purchasing: Procurement is a strategic function focused on long-term value, while purchasing handles the tactical execution of buying. What is Procurement?
Spend Matters honors a vast array of procurementsolution 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 honors a vast array of procurementsolution 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.
Advanced technologies such as AI, automation, and predictive analytics are playing a pivotal role in optimizing procurement processes, enhancing transparency, and driving efficiency. But what does the future hold for public procurement, and how can technology fine-tune the process to perfection?
The guide is an invaluable tool for anyone thinking about starting or actively undergoing a digitally-enabled procurement transformation. All of the phases are peppered with real-world case studies from the people who have been in your shoes; so you dont have to step into the same holes theyve already avoided!
EDITOR’S NOTE: Chevron was IN NO WAY involved with the following assessment, although I think they will find it to be an interesting read because it leverages their known capabilities and aligns them with my prior research and discussions on procurementefficiency, Shared Services, and Hansens RAM principles.
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.
Businesses must start looking to the supplychain to ensure this renewed focus on transparency and accountability. Importantly, the study demonstrates why more needs to be done across the supplychain to assess and measure green credentials regularly. Measure suppliers on carbon emissions.
How to gain visibility and control of your indirect spend. 4][5] Supplier Portals Enhance Collaboration: Digital supplier portals are now in use across 35% of procurement platforms. These portals improve real-timevisibility into purchase orders, payment timelines, and dispute resolution, directly enhancing vendor satisfaction. [5]
Today, for procurement organizations too, applying an AI-first approach has become imperative, especially in the source-to-pay process. The era of intelligent procurement We expect 2024 to be the year of intelligent procurement, driven by AI, automation and data analytics.
What does an E-Procurementsolution do? E-procurementsolutions use an electronic interface to automate, guide and approve the purchase and reception of products and services. To compare product strengths and weaknesses, try Spend Matters TechMatch to directly assess the capabilities of digital procurementsolutions.
Reference : JD Edwards Baan : Overview : The Baan Corporation offered ERP solutions with procurement components, focusing on manufacturing and project-based industries. Significance : Baan’s software emphasized integration across the supplychain, including procurement processes.
Predictive AI, on the other hand, uses historical data to forecast potential disruptions, price changes, and supplychain risks. Together, they enable procurement teams to move from reactive to proactive, optimizing sourcing strategies, improving supplier negotiations, and ensuring more accurate, real-time decision-making.
Download Free Copy SupplyChain Disruptions in Schools: Challenges and Solutions Category Inventory Written by Keith Murphy 17 min read Tags Education Risk Management SupplyChain Management Last edited March 18, 2025 Download PDF KEY TAKEAWAYS Efficient school supplychains are critical for maintaining consistent educational services.
Tune in to learn how to confidently choose and implement the right procurement tech to drive efficiency and innovation in your organisation. He highlights how tailored tools like Workrise address unique challenges, ensuring companies avoid the pitfalls of generic solutions that fail to meet sector-specific needs. Stay in touch!
The landscape of public sector procurement has undergone significant transformation in recent years, driven by advancements in technology, evolving regulatory frameworks, and an increasing emphasis on sustainability. Blockchain Technology: Blockchain ensures transparency, security, and traceability in procurement transactions.
Businesses must start looking to the supplychain to ensure this renewed focus on transparency and accountability. Importantly, the study demonstrates why more needs to be done across the supplychain to assess and measure green credentials regularly. Measure suppliers on carbon emissions.
EPISODE 137 Using Visibility to Combat SupplyChain Abstraction with Frank Kenney By Kelly Barner | October 18, 2023 In the race to build global empires of data and digital systems, today’s businesses must not risk forgetting what all of those zeroes and ones mean.
The real estate industry, characterized by intricate processes and substantial investments, constantly seeks ways to enhance efficiency, reduce costs, and ensure timely project completion. This comprehensive solution streamlines procurement activities, improves and provides transparency across the entire supplychain.
Procurement software tends to fall into one of three categories. There are enterprise resource planning (ERP) systems, which are complex systems designed to help companies manage all ends of the supplychain. How Does Procurement Management Software Work? And finally, there’s purchase order-specific software.
Below is a ranking of the top 10 ProcureTech should-cost solution providersGEP, Zycus, Ivalua, SAP Ariba, Coupa Software, Jaggaer, Keelvar, Lytica, ProPurchaser, and Archletacross three criteria: length of time in business, company size, and top reason for dealing with each one.
These issues can waste time, increase expenses, and cause frustration for your team. Over time, these small problems add up, making it difficult to grow smoothly. It saves time, reduces mistakes, and gives you a clear view of all purchases, helping you make better decisions. Thats why switching to an can help.
This integration simplifies workflows and reduces manual data entry, increasing operational efficiency. Another feature to prioritize is real-time data analytics and reporting. This level of analysis helps organizations make informed decisions quickly, cutting down on time-consuming vendor meetings and negotiations.
Download Free Copy Ultimate Guide to Procurement in Education: Tips for Schools & Academies Category Spend Management Written by Keith Murphy 16 min read Tags Education Procurement Last edited February 24, 2025 Download PDF IN THIS ARTICLE What is Procurement in Education? Who Benefits from EfficientProcurement?
Embracing digital technologies has become a necessity for companies to streamline operations, improve customer experiences, and increase overall efficiency. Procurement’s Role in Driving Business Success Procurement, often viewed as a behind-the-scenes function, plays a critical role in a company’s success.
Here is the paragraph: “Back in 2002, Greg Brady , a supplychain visionary, and Ranjit Notani , a pioneer in multi-enterprise collaboration technology, came to the conclusion that the traditional paradigm of business-to-business collaboration built around enterprise-centric software was fundamentally flawed. ” 30
In today's fast-paced business environment, procurement plays a crucial role in determining a company's efficiency, cost-effectiveness, and competitive edge. A significant driver of this evolution has been the integration of advanced technologies into procurement processes.
In today's fast-paced business environment, procurement plays a crucial role in determining a company's efficiency, cost-effectiveness, and competitive edge. A significant driver of this evolution has been the integration of advanced technologies into procurement processes.
We believe in the power of strategic sourcing and procurement to drive significant value across organizations. Our offerings, from spend analysis and sourcing support to contract and supplier management, are designed to optimize procurement operations, improve efficiency, and drive cost savings.
According to Amazon’s 2024 State of Procurement report, 95% of decision makers believe that procurement has room for optimization. Today, procurement tools are too useful and readily available to ignore. What are procurement tools? How are procurementsolutions classified? What are e-procurement tools?
Procurement has changed a lot in the digital age, moving from old, manual methods to modern, tech-driven systems. This change helps businesses work faster, more efficiently, and at lower costs to stay competitive. Digital tools have replaced paper processes, improving accuracy and saving time and money.
Our expert team works alongside your organization, offering comprehensive and customized procurementsolutions that align with your business goals. Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurementsolutions.
Supporting the Liquor Control Board of Ontario (LCBO) during a rail strike requires a procuretech provider that offers strong supplychainvisibility, risk management, and flexibility in sourcing and logistics. SupplyChainVisibility and Risk Management 3. Flexible Procurement and Logistics Solutions 4.
How to gain visibility and control of your indirect spend. Here we’ll discuss various potential supplychain disruptions and what you can do to mitigate the risks to keep your business up and running throughout whatever circumstances are thrown your way. How to report and analyze indirect spend to identify savings opportunities.
For small and medium-sized businesses (SMBs), optimizing procurement processes is essential for maintaining a competitive edge and ensuring operational efficiency. Often overlooked in strategic planning, procurement management can significantly impact a company's bottom line.
Multi-functional technology enables you to train anywhere at any time, while ever-learning programming allows you to experiment and practice to achieve different outcomes. LavenirAI allows you to train anywhere, any time, so you can stay at the top of your game.
visibility, self-service, document exchange, etc.) Top vendors stand out with real-time collaboration and dispute resolution, extensive full access to workflow and business-rule support, and fine-grained workflow permissioning. Exploring the actual market state of the top 5 capabilities 1. with its corresponding access security.
As businesses complete their digital transformation and move away from complex (and often manual) legacy systems, modern procurementsolutions are rapidly replacing traditional methods. Build a more efficientprocurement with the Definitive Guide to P2P Optimization Download free guide What is cloud procurement?
Introduction In the complex and fast-paced business world of today, Managed Procurement Services (MPS) have emerged as a key solution for enterprises seeking to streamline their operations, improve efficiencies, and achieve cost savings. Procurement is no longer just about purchasing goods and services at the lowest cost.
Canopy Canopy is a vendor master data and supplier management platform that aims to provide complete visibility of your suppliers’ information. Additionally, realtime communications functionality gives you immediate collaboration on service improvement planning between you and your suppliers.
Our expert team works alongside your organization, offering comprehensive and customized procurementsolutions that align with your business goals. Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurementsolutions.
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