Your Guide to the Best Contract Management Solutions With procurement, contract management solutions play an integral role in how business is conducted. According to research conducted by DocuSign, when contract management is inefficient, it can take quite a toll on ROI, affecting up to 9.2% of revenue each year. Additionally, 63% of sales professionals reported […]
Why Do Reverse Auctions Fail? Reverse auctions can play an important role in strategic sourcing, particularly because both buyers and suppliers have complete transparency using this approach. However, even though they may be one of the primary strategic sourcing tools and techniques for some buyers and suppliers, they may fail for others. There are some […]
How Do You Develop Strategic Relationships with Suppliers? One of the most significant pieces when it comes to sourcing and procurement solutions is your suppliers. As you procure goods and services, you will have different levels and types of suppliers, and not all of them will be at the same strategic level, including the most […]
eProcurement and eSourcing Solutions For Your Business One of the most difficult things about searching for eProcurement and eSourcing solutions for your business is finding the right software to truly suit your needs. eSourcing technology has certainly come a long way, but everyone’s procurement process is slightly different, and you may find there is no […]
5 Tips for Your Procurement Spend Analysis Running regular procurement spend analysis reports can be helpful when cutting costs and seeing exactly where spend is going. Reports should be an integral part of your software suite, and you should have a procurement spend analysis dashboard readily available. That doesn’t mean the report comes out with […]
Online Reverse Auction Solutions and Optimizations Running a reverse auction is a critical part of the strategic sourcing process once you get a feel for how one works. Without having online reverse auction solutions and optimizations and running an eAuction or reverse auction without some direction, you may not be getting the results you want […]
How to Optimize Your Procurement Sourcing Systems Finding the right tools and measures to optimize your procurement sourcing systems is a must. While optimization does rely heavily on procurement sourcing software, there are other ways to optimize the procurement management process. Once you’re able to implement some new measures, software, and tools, you should see […]
Optimizing Sourcing Decisions for Your Business Whether you’re an SME or a larger enterprise, optimizing sourcing decisions is likely something that is quickly becoming a priority if it’s not on top of the to-do list already. Procurement optimization helps keep things moving, keeps your team on the same page, and saves your company time and […]
Contract Management 101: The Best Contract Management Systems Sourcing and contract management is one of the biggest pieces of the puzzle when it comes to procurement, and managing your contract management system well is important. Now that most procurement systems are automated, the most common way to manage contracts is by using procurement contract […]
What is the Procurement Spend Analysis Process? Spend analysis is one of the most important pieces of procurement management. Spend analysis will give you an honest insight into spend, how you can make significant changes, how you can decrease costs, and improve relationships with your suppliers. However, it’s always good to take a look at […]
