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Procurement and supply chain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time.
In this post, we’ll break down proven strategies to help you streamline processes, improve visibility, and take back control of your procurement stack. All of these processes are critical components for managing procurement activities strategically. Key Takeaways What is Procurement Software – and why is it important?
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.
SpendManagement — The Ultimate Guide of 2023. Spendmanagement is an important process to reduce losses and mistakes. However, how do you manage your spending? In this article, we will discuss what spendmanagement is. We will tell you the challenges and benefits of spendingmanagement.
Technology unifies procurement and purchasing, improving visibility, compliance, and workflow automation. Distinguishing the two helps enterprises optimize spend and strengthen supplier relationships. It’s a strategic function that covers both direct and indirect spend and emphasizes total value creation. What is Procurement?
Technology is a powerful enabler of finance-procurement collaboration, bridging gaps in spendvisibility, cost control and data integration. Without the right tools, procurements contributions to financial strategy can remain disconnected from budgeting, forecasting and risk management.
Redwood City, CA September 2, 2020 – Ivalua, a leading provider of global SpendManagement Cloud solutions, today announced the availability of a pre-packaged procurement suite for construction and engineering companies. Just in time work package procurement from sourcing to payment of contractors.
This content does not express the views or opinions of Spend Matters. In today’s dynamic business landscape, effective spendmanagement is crucial for maintaining financial controls and achieving sustainable growth. Employees may struggle to perform simple tasks, leading to frustration and reduced adoption rates.
The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. These begin with enhanced visibility.
In any case, organizations need to pull indirect spending out of the shadows and into the open. In this article, we’ll go over a few ways to improve the process: education, gaining spendvisibility , categorizing spend by supplier or department, etc. What Happens When Indirect Spend Isnt Managed?
Redwood City, CA, June 30, 2021 – Ivalua, a global leader in Cloud SpendManagement solutions, announces an extension of its source-to-pay platform with a new payments solution to digitize and streamline global supplier payments. Enabling rapid, cost-effective and transparent supplier payments anywhere in the world.
Tracking performance over time is key to measuring the business value the collaboration is delivers. However, procurement plays a critical role in reflecting cost-saving initiatives, supplier contracts and spendmanagement efforts in financial statements and budget planning.
Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved?
Amplify Your Business SpendManagement Strategies with a GPO. Our team is dedicated to empowering procurement and technology professionals to make the best sourcing decisions for their organizations while saving money, time, and effort. Top category savings to amplify your business spendmanagement strategies.
A comprehensive Source-to-Pay platform is a critical component of an organization’s IT environment. Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. What is Source-to-Pay? Sourcing: Where Procurement often creates value first.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
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.
A comprehensive guide designed to tame tail spend in a way that leads to reduced risk and increased cost savings. Taming Tail Spend. This comprehensive guide will go over tail spend in procurement and provide resources for how to implement an effective tail spendmanagement strategy. Next is the tail.
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. And in the real workplace, thats where those decisions come from rather than procurement itself. Her first piece of advice would be: Dont.
With real-time pricing and inventory information to ensure that the items selected are available. With this seamless access, businesses can have better control and visibility into tail spend. Reach out to us today to discuss all of our Source-to-Pay and Procure-to-Pay solutions. All without leaving Ivalua.
Lifted from their latest webinar, Jean-Baptiste Anne from Amazon Business and Vishal Patel from Ivalua offer insights into tail spendmanagement programs and the ROI these programs can generate for procurement teams. . Lack of control or visibility into what is being spent and with which suppliers. Who purchased it.
With real-time pricing and inventory information to ensure that the items selected are available. With this seamless access, businesses can have better control and visibility into tail spend. Reach out to us today to discuss all of our Source-to-Pay and Procure-to-Pay solutions. All without leaving Ivalua.
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. market share (Apps Run The World, 2023) lead.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. The seamless connection allows for automated invoice scanning, approval workflows, and real-timespendvisibility. What's PLANERGY?
Ivalua SpendManagement Insights [ivory-search] Procurement Rising: The Silent Inflation Tax on Manufacturers February 27, 2023 | | Manufacturing by Doug Keeley Last year, the Consumer Price Index was the highest it has been in four decades, making inflation one of the most concerning macroeconomic factors facing the business world today.
Businesses can easily identify new sources of supply and help reduce purchasing costs by improving employee choice and access. Realtime pricing and inventory ensures items selected are available. Tail spend has always been difficult to control by procurement teams.
ProcureTech Solution Providers and Agentic AI Stances Agentic AI in procurement involves AI agents handling tasks like sourcing, contract management, and supplier coordination with minimal human oversight, often integrated into platforms like SAP or Coupa. Human Replacement?: SAP emphasizes augmentation, not replacement. cosmetics $0.07/unit
Data is central to successful digital transformation to relay real-time information and greater visibility into operations and resource allocation. Data builds the bridge between your own internal supply chain visibility and the information you provide to your stakeholders. Timeliness is also important.
If we look at contract and spendmanagement, we're looking at the bottom of the pyramid. But if we look at the top of the pyramid, we look at other ways to create value such as innovation, shared R&D, different areas of performance management. Is there a niche or sector that real-time SRM works for best?
EPISODE 137 Using Visibility to Combat Supply Chain 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.
New platform release features a broad set of enhancements across Ivalua’s complete Source-to-Pay suite, including deep integration with Amazon Business. Redwood City, CA – Feb 24, 2021 – Ivalua , a global leader in Cloud SpendManagement solutions , today announced the general availability of its new platform release 168.
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.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
The real estate industry, characterized by intricate processes and substantial investments, constantly seeks ways to enhance efficiency, reduce costs, and ensure timely project completion. From sourcing construction materials to hiring contractors, a well-organized is essential for timely project completion and cost control.
E-invoicing Mandate | France 2024 Ivalua SpendManagement Insights [ivory-search] Wake Up AP, Before it’s Too Late! The first and most visible element of this change are the emergence of Government tax networks or Continuous Transaction Controls (CTC) systems. What are the implications?
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend.
Why is Complex Spend an Issue? Gaining Visibility and Control. 2 Why is Complex Spend an Issue? The reasons for the challenges vary from organisation to organisation however, fundamentally, include the spend being spread across many business groups (i.e. 3 Gaining Visibility and Control. Introduction. Resources.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. How better management in AP can give you better flexibility for cash flow management. What's PLANERGY?
When it comes to improving procurement efficiency, though, a sourcing hero’s work is never truly done. Instead of sitting back, the profession must make a long-term and ongoing commitment to sharpening its sourcing processes. Instead, they’ll be able to spend more time nurturing the relationships that really matter.
Ivalua SpendManagement Insights [ivory-search] A Balancing Act: Drive Sustainability while Managing Cost and Risk April 27, 2023 | | Supply Chain by Vishal Patel Cost, Risk, and Sustainability. The question is, how do you balance all three while maintaining continuous operations and generating revenue at the same time?
New Risk Center adds capabilities and integrations to extend existing leadership in enabling holistic management of supplier risk. The latest innovations extend the existing strength of Ivalua’s Supplier Management solution, which had already been recognized as a Leader by Forrester Research Inc.
Procure-to-Pay (P2P) and Source-to-Pay (S2P) are two terms often used within the software industry to describe digital solutions that create efficiencies within procurement. Source-to-Pay includes all of what P2P has to offer, and expands capabilities to include the “sourcing” of products and services.
Mid-market businesses, on the other hand, could invest in this software and easily see a quick return if they have the right change management and procurement talent in place. Above $1 billion businesses are typically a target of established, enterprise source-to-pay and source-to-contract suites.
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