Contract Compliance and Strategic Sourcing Compliance is one of the essential pieces of procurement management. It’s important to ensure that your vendors meet your company’s standards regarding all contracts and purchase orders. Contract sourcing and strategic sourcing are two different strategies that ensure you are able to get the best deals from your suppliers while […]
Unethical Sourcing Practices in Procurement and How to Avoid Them In procurement, unethical practices can be hard to spot. Say you took a gift or a low price from a vendor, neither of which seemed unethical at the time. Yet these things, along with other seemingly inoffensive actions, may be considered unethical. It’s critical to […]
Contract Management Solutions and Services One of the most critical aspects of procurement is contract management. Before the digital age, the entire process could be long and tedious, as there were a lot of paper versions involved. Nowadays, eSourcing includes contract management software in procurement that’s meant to make your job more seamless. Read on […]
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 […]
How to Streamline Contracts and Procurement (During the COVID-19 Pandemic) Streamlining contracts and procurement even before the COVID-19 pandemic may have been difficult. Still, once the pandemic hit and everyone had to move to work remotely, it may have become much more difficult. As the pandemic surges on, your sourcing and contract management strategies may […]
RFP Software Comparison There are quite a few steps when it comes to building an RFP (request for proposal), and in modern times, most corporations and businesses use RFP management software to aid them in the steps of the RFP process. Those in the market for RFP software, performing an RFP software comparison is […]
Trying to Meet the Information Requests of the CPO and CFO with Spreadsheets It may surprise you to learn that more than 50% of all organizations continue to use spreadsheets to manage procurement activities. Updating or modifying spreadsheets that have 50, 75 or more than 100 columns to analyze bids and prepare reports for senior […]
Procurement Challenges Checklist – Are You Moving Forward or Treading Water? [et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.22″][et_pb_row admin_label=”row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] This week I offer the most common challenges that are shared with me by procurement professionals. Most folks that contact me are: Grappling with a system […]
Are Your Contracts Stuck in Limbo? Are you constantly wondering what or who is holding up your contracts? Virtually every procurement professional I have spoken with in the past year has listed visibility and transparency as top goals for their group. Most companies have a predefined path that a contract must follow to be executed. […]
How Good are Your Procurement Negotiating Skills? I am sure you have met folks in procurement who are very confident in their negotiating skills. Their confidence may be based on some big wins or maybe they are willing to employ tactics other people may not be comfortable using. In my experience, the best negotiators utilize […]