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London, UK – June 18, 2020 – Ivalua, a leading provider of spendmanagement software, today announced the general availability of its new platform release 166. The release features a broad array of innovations to empower customers to better manage their spend and suppliers.
Key Takeaways Procurement and supplychainmanagement serve different functions, but when misaligned, they create costly inefficiencies and delays. Lack of shared data, visibility, and KPIs leads to disconnects, including poor supplier performance tracking and missed savings.
If, for instance, procurement forecasts the number of supplier orders and stock needed to meet demand, and then this demand spikes, the function must respond to the situation. A likely outcome will be annoyed customers, strained supplier relationships and overwhelmed staff, all of which can erode revenue.
Dramatic supply and demand shifts during the pandemic prioritized the need for data accuracy to solve short and long term supplychain challenges. Data builds the bridge between your own internal supplychainvisibility and the information you provide to your stakeholders.
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. Comprehensive Supplier Network 2. SupplyChainVisibility and Risk Management 3.
Frank is the Director of Market Strategy at Cleo, where he is focused on helping companies get ahead and stay ahead despite persistent supplychain complexity. These group purchasing organizations often have contracts with a wide range of suppliers, and they offer their member businesses access to these contracts at discounted rates.
They all include enhancements of: SpendManagement. The underpinning of effective spendmanagement is the capacity to formulate and execute an Annual Buying Plan. SupplyChain Agility and Visibility. Decisions around Supplier Selection.
If your organisation struggles with supplychainvisibility you are not alone, according to Deloitte’s survey of Chief Procurement Officers, 65% of CPO’s have limited or no visibility beyond their Tier 1 suppliers. A better solution to this problem is to utilise cloud based spendmanagement technology.
We explore Focal Point offers intake, project management and procurement performance; Lavenir AI offers ongoing, virtual negotiation training practice; Raindrop is a complete spendmanagement suite built on modern technology; FRDM focuses on supplychain risk management; LUPR leverages Salesforce data for SRM.
The digital P2P process provides intelligent transaction automation between your company, suppliers and their receipt of payments. One of the first things to be digitised was the transfer of money from customer to supplier, via bank transfer. This is due to spend and supplier data being consolidated in one single system.
Raindrop Raindrop is one of a number of US procurement startups offering enterprise-level spendmanagement platforms. The software was founded by a group of seasoned procurement professionals who have developed a full-suite spendmanagement platform with two overriding principles: time to value and ease of use.
In many companies problems can arise when promotional goods are by inexperienced buyers from unapproved suppliers. A lot of time and energy can be spent inefficiently sourcing the goods, which can be bought from a huge variety of suppliers at vastly differing prices and quality.
The digital P2P process provides intelligent transaction automation between your company, suppliers and their receipt of payments. One of the first things to be digitised was the transfer of money from customer to supplier, via bank transfer. It enables: Building stronger relationships with your key suppliers.
In many companies’ problems can arise when promotional goods are purchased by employees throughout the organisation or just “passed through” by overworked buyers who have no time to deal with the suppliers. This can result in products and services being purchased across the company with no consistency of supply or quality.
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