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Following the global climate protests that swept the world in 2019, sustainability rose to become a business priority. 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.
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.
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.
Keeping costs under control is essential to sustaining operational effectiveness and profitability in the quickly changing corporate environment. Spendmanagement software offers companies the tools to streamline financial operations, monitor expenses, and maintain control over their budgets.
16th July 2020, London – Research from Ivalua, a leading provider of spendmanagement cloud solutions, has shown that six-in-ten (60%) UK businesses have decreased their investment in sustainability initiatives due to the COVID-19 pandemic. Lack of visibility slowing plans to tackle environmental concerns.
Each function’s objectives often overlap, particularly in areas such as financial reporting, cost management, budgeting and data-driven decision making, so when procurement strategies align with finance-led initiatives, organizations gain greater financial visibility, improved efficiency and stronger risk control.
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.
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. Impact on Procurement: Spend analytics give CPOs visibility into spending patterns, supplier performance, and inefficiencies.
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.
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. Those are three hot topics in the enterprise today. To do so, we need to get creative and curious.”
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.
supplier analysis, spend optimization), automating workflows like order approvals. It aims for 500+ AI skills by 2025, enhancing real-time decisions (Forbes, Jan 21, 2025). SIDE NOTE: What Self-learning algorithms are they using to analyze suppliers, e.g., historical and real-time? Human Replacement?: cosmetics $0.07/unit
During this session, the panel answered questions surrounding data as a driver of sustainable value, continuity, and transparency and how data can fuel digital transformation. . Data is central to successful digital transformation to relay real-time information and greater visibility into operations and resource allocation.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. This reflects a sustained focus on compliance-friendly, digital solutions [2]. What's PLANERGY? billion in 2025 , growing from $1.29 growing 10% quarterly.
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. Increasing Supplier Visibility.
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?
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.
Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. It is a crucial process for organizations that are looking to streamline their procurement activities, better managespend and suppliers and increase operational efficiency.
And let’s not forget the crucial role they play in driving diversity and sustainability within the supply chain. Once the relevant information has been collected, you’ll be able to prioritize how best to direct your resources and time. Accelerate your P2P cycle time with an automated system.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. Tools like PLANERGY enhance supply chain resilience by providing real-time tracking, data-driven insights, and streamlined communication with suppliers.
Purchasing is about getting the right stuff at the right time from the right suppliers for a fair price without blowing up your budget or your supplier relationships. Throw in approvals, payment terms, shipping costs, sustainability concerns, and maybe a dash of I know a guy supplier loyalty, and suddenly its chaos.
Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities. ESG In Supply Chain: Creating a Sustainable Value Chain.
Supporting the Liquor Control Board of Ontario (LCBO) during a rail strike requires a procuretech provider that offers strong supply chain visibility, risk management, and flexibility in sourcing and logistics. Supply Chain Visibility and Risk Management 3. Here’s why: 1. Comprehensive Supplier Network 2.
This classification provides a clearer view of what an organization is spending money on, and with whom. This is where the real magic happens. By using various analytical tools and techniques, trends and patterns in the spending data can be identified. Spend analysis plays a vital role in a business.
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. The platform also offers supply and risk management insights.
The platform aims to provide a one stop solution for sustainable insights. Weproc Weproc is a small French company offering a SaaS eProcurement software with a focus on purchasing and spendmanagement. Weproc aims to facilitate the management of Purchase Orders and invoices through a simple and efficient interface.
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. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities.
established in 2020, is a pioneer in the field of spend analysis automation. Located in Amsterdam, Netherlands, the company leverages advanced AI technologies to enhance procurement processes, focusing on efficiency and data visibility. Mithra-Ai Mithra-AI Solutions B.V. Spendata caters to both mid-market and enterprise customers.
Regardless of industry, procurement buyers fulfill their role by finding the best suppliers, negotiating contracts, and identifying the most cost-effective, timely procurement of goods. You can unsubscribe at any time. The best procurement buyers have a solid understanding of market trends, supplier performance, and ethical sourcing.
Companies, regardless of size and industry, need to source goods and services efficiently, cost-effectively, and with an eye toward sustainability and social responsibility. Without proper oversight and management, procurement can easily become a source of unnecessary expenditure and inefficiency. The result?
Companies, regardless of size and industry, need to source goods and services efficiently, cost-effectively, and with an eye towards sustainability and social responsibility. Without proper oversight and management, procurement can easily become a source of unnecessary expenditure and inefficiency. The result?
Integration with Supply Chain Direct procurement technology often requires seamless integration with the supply chain management (SCM) systems to optimise production schedules and meet market demands. This integration allows for real-time tracking of direct spend and the efficient management of direct procurement categories.
Today, Claritum’s cloud based spendmanagement platform streamlines the buying and selling of products and services. Optimizing SpendVisibility, Control, Cost Savings and process Efficiencies. Over 150,000 users in 35 countries rely on Claritum to deliver significant, measurable and sustainable savings.
Procoto offers features including: Strategic sourcing Smart databasing Workflow approvals RFP management Data transformation The platform’s tools and analytics aim to level the playing field between small and large companies – giving leverage to SMEs. It gives you full visibility of your spend data, all in one place.
They must also ensure ethical and sustainable procurement practices, as consumers increasingly demand transparency and social responsibility from businesses. Finally, businesses grapple with the challenge of data management. Early spend analysis tools were primarily spreadsheet-based, requiring manual data entry and analysis.
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.
By delving into these topics, we aim to equip healthcare organizations with the knowledge and tools necessary to unlock the full potential of spend analysis. Spend analysis helps identify preferred suppliers, assess supplier performance, and negotiate contracts, fostering stronger relationships with key suppliers.
With access to end-to-end data, teams have better access and control over company spending to reduce costs, improve vendor selection and negotiations, and sustain effective regulatory compliance. In these cases, the software can easily adapt to these processes as the business grows by automating purchase management.
Case Study 2: Nitor Partners – Diesel Fuel In another case study, Nitor Partners drove over $3MM in savings by leveraging a cross-category strategic sourcing strategy and creating multi-year agreements to manage future cost risk exposure and build long-term supplier relationships.
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.
FedEx’s innovation here was to build a network of distribution hubs and to ensure every package was scanned at each point in the journey so that its real-time location was always known. And by making its tracking information available to customers, it gave them visibility and control over their shipments for the first time.
Introduction Grabbing attention and introducing the importance of spend analysis In today’s dynamic business landscape, organizations are constantly seeking ways to optimize their operations and drive sustainable growth. One crucial aspect that often gets overlooked is spend analysis.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby 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.
Headlined “forging paths to sustainable success,” the event attracted roughly 400 live attendees and featured Zip’s new branding and the announcement of new features. As Spend Matters analysts we attended a mini analyst summit which helped free up time for us to talk to fellow attendees during the day’s event.
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