Planergy Software

MARCH 29, 2022

This step can make or break an organization’s ability to understand its data better and leverage it to maximize profitability, reduce cost, and create value for shareholders. Here’s another point worth noting — organizations often overlook the accounts payable department while trying to make better use of data.

Analytics 52

Analytics Accounting Finance Strategic Sourcing 52

Planergy Software

FEBRUARY 8, 2022

Strategic Sourcing Supplier Performance Supplier Relationship Management. Why is developing collaborative relationships with your most strategic suppliers crucial to your success? It helps to make process improvements, reduce costs, and continues to encourage innovation in the products or services you offer.

Strategic Sourcing 52

Strategic Sourcing Supply Chain Management Collaborations Finance 52

Obobo

MARCH 23, 2023

For companies looking to reduce costs, procurement is often one of the first places they look. Cost reduction during procurement processes can be accomplished through various strategies that range from the short-term to medium and long-term goals. Short-term Cost Reduction Strategies Short-term Cost Reduction Strategies: 1.

Reduced Costs 52

Reduced Costs Inventory Management Automation Sourcing 52

Planergy Software

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Using ABC Analysis: Class A: These purchases account for 80% of your total cost of purchases for 20% of suppliers. How to gain visibility and control of your indirect spend. How Pareto Analysis Works?

Supply Chain Management 52

Supply Chain Management Reduced Costs Robotics Process Automation Analytics 52

Planergy Software

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. By developing a PSP, an organization can streamline its procurement process, reduce costs, and improve quality and service levels. Communication is often improved, reducing costly misunderstandings.

Reduced Costs 52

Reduced Costs Finance Accounting Strategic Sourcing 52

Planergy Software

MARCH 2, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Introduction To Tail Spend Analysis Tail spend analysis examines a company’s spending patterns and identifies opportunities to reduce costs and improve efficiency. Download PDF What’s your goal today?

Strategic Sourcing 52

Strategic Sourcing Reduced Costs Sourcing Efficiency 52

SIG Speaks

OCTOBER 12, 2023

The rapid advancements in AI have notably impacted various business functions, including procurement and sourcing. Businesses and organizations continue to strive to enhance efficiency, reduce costs, and gain a competitive edge, and AI technologies have begun to revolutionize the procurement landscape.

Sourcing 40

Sourcing Strategic Sourcing Outsourcing Regulations 40

Obobo

AUGUST 2, 2022

In addition to data you capture and measure objectively, these KPIs should also take into account contextual factors and qualitative observations. Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. Maintain a Supplier Database.

Management 64

Management Right-Sizing Supply Chain Management Strategic Sourcing 64

Planergy Software

OCTOBER 18, 2023

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Compliance and Accountability A corporate travel program enforces adherence to company policies and regulatory requirements. What's Planergy?

Finance 52

Finance Reduced Costs Management Risk Management 52

Planergy Software

AUGUST 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Open tendering is preferable as it allows companies to apply for multiple contracts at once, resulting in more efficient use of resources and reduced cost-over-runs from multiple procurement processes.

Sourcing 52

Sourcing Strategic Sourcing Finance Automation 52

Obobo

JANUARY 15, 2023

Procurement cost savings is the process of reducing costs associated with acquiring goods or services, without sacrificing quality. In this article, we will explore the definition of procurement cost savings, as well as its advantages and disadvantages. The different types of procurement cost savings.

Reduced Costs 40

Reduced Costs Out-Tasking Strategic Sourcing Automation 40

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. RFIs can also help buyers identify potential suppliers and compare them against each other, which is crucial for strategic sourcing. Use PLANERGY to manage purchasing and accounts payable.

Supply Chain Management 52

Supply Chain Management Strategic Sourcing Sourcing Finance 52

Planergy Software

SEPTEMBER 20, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. It promotes a sense of responsibility and accountability, fostering a positive work environment. How to gain visibility and control of your indirect spend. Can I Integrate These Tools With Our Existing Systems?

Management 52

Management Right-Sizing Software Finance 52

Obobo

MARCH 21, 2023

Procurement savings refer to the cost reductions that are achieved by a company when it purchases goods and services through a strategic sourcing process. key Takeaway: Procurement savings are the cost reductions achieved by a company when purchasing goods and services through strategic sourcing.

Finance 45

Finance Strategic Sourcing Software Reduced Costs 45

Planergy Software

MARCH 24, 2022

Create and Maintain a Supplier Database It’s crucial to own a detailed and current supplier database as this will help in planning, reducing costs, choosing new vendors, and promoting strong supplier relationships. Use PLANERGY to manage purchasing and accounts payable. Download PDF. What’s your goal today?

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

Obobo

AUGUST 16, 2022

In addition to data you capture and measure objectively, these KPIs should also take into account contextual factors and qualitative observations. Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. Maintain a Supplier Database.

Management 52

Management Right-Sizing Supply Chain Management Strategic Sourcing 52

Obobo

MARCH 30, 2023

If you’re responsible for a procurement team , reducing costs is probably one of the main goals you care about. In fact, cutting costs is the primary KPI for most purchasing organizations. But what’s the best way to measure and report those cost savings ? What are the Benefits of Procurement Cost Savings?

Analytics 40

Analytics Reduced Costs Strategic Sourcing Software 40

Obobo

FEBRUARY 14, 2023

This is one of the most effective ways to reduce costs. Automation can help you reduce errors and speed up processes , leading to cost savings. By definition, cost avoidance is the proactive identification and prevention of unnecessary or wasteful spending within the procurement process. Review your current spend.

Automation 52

Automation Sourcing Strategic Sourcing Analytics 52

Planergy Software

JANUARY 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Supplier tiering also helps reduce costs by eliminating inefficient or unnecessary processes in the supply chain. Use PLANERGY to manage purchasing and accounts payable. Download Free Copy.

Supply Chain Management 52

Supply Chain Management Regulations Manufacturing Finance 52

Planergy Software

OCTOBER 4, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Another advantage of big data analytics is that it can help organizations reduce costs and improve efficiency. Duplicate and irrelevant data needs to be removed or otherwise accounted for.

Analytics 52

Analytics Out-Tasking Right-Sizing Sourcing 52

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. By thoroughly understanding these concepts and considering their benefits, challenges, and risks, purchasing companies can make strategic decisions that drive growth, innovation, and long-term success.

Manufacturing 52

Manufacturing E-Commerce Human Resources Marketing 52

Planergy Software

DECEMBER 16, 2024

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This reduces the time spent on manual data entry and helps businesses avoid errors and reduce costs. What's PLANERGY?

Finance 52

Finance Automation Reduced Costs Management 52

Planergy Software

DECEMBER 11, 2023

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. MATs will usually centralize specific business functions, like finance, to improve efficiency and reduce costs across the group of schools.

Government 52

Government Collaborations Finance Accounting 52