Procurement

Top 6 Contract Lifecycle Management Benefits and Best Practices

Contracts are the center of many processes

Contracts are a critically important aspect of business that require accuracy and proper oversight. The entire process of monitoring contracts can be a tedious one. Fortunately, technology now allows organizations to automate this process, ensuring greater efficiency, improved compliance with legal requirements, and even cost savings. With a proper Contract Lifecycle Management (CLM) platform in place, …

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4 Ways to Maximize Engagement with the Procurement Team

Team: Hands In!

Companies with an effective procurement department in place understand just how critical the process is to business. However, an established system doesn’t guarantee engagement. In fact, according to a Deloitte study, “Internally, engagement across the business remains an area of focus but, for many, a development point.”  To date, many internal employees try to avoid going through …

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4 Ways to Improve Procurement Processes and Boost Organizational Value

Improve your procurement process

Procurement teams…those are the people who find an organization’s suppliers, right? If you’ve adopted this sort of limited view about procurement (or are surrounded by people who have), you’re (or they’re) gravely underestimating the impact of these teams. The procurement processes themselves and the people who are responsible for implementing them, can affect almost all …

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Top 4 Reasons Your Organization is not Adopting eSourcing and How You Can Overcome Them

Reasons your organization is no adopting eSourcing

For any business that has used an eSourcing platform, the benefits are evident. Using tailored technology to streamline its procurement needs can provide an organization with significant cost savings, faster cycle times, more transparency, and better control over its sourcing requirements. Despite demonstrable success and a strong ROI story, eSourcing adoption remains low. As Jeff …

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Which Type of Reverse Auction Should You Be Using?

Types of Reverse Auctions

Advancements in technology have allowed procurement teams to introduce new sourcing strategies and practices. A reverse auction, for example, can automate and streamline the sourcing process to increase cost efficiency without requiring months of negotiation. Before going further, we want to acknowledge that cost should not, in the vast majority of situations, be the sole …

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