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Clashing Priorities: Vendor Diversification vs Efficiency and Vendor Risk Management

Sourcing Advisors Group

The growing approved supplier base and decreasing supplier visibility will further deteriorate what is already a bleak performance of most Strategic Sourcing teams. In fact, most firms generate no Strategic Sourcing bottom-line results, as Vendor Spending is increasing as fast, or faster, than Revenue growth.

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CFO Challenges and Priorities in 2021 And Beyond

Planergy Software

They need to understand emerging technologies such as artificial intelligence, data analytics, and robotic process automation. Consequently, today’s CFOs need new skill sets and talents. ” Top Challenges and Priorities for CFOs. . ” Top Challenges and Priorities for CFOs.

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Turning Data Into Actionable Insights

Planergy Software

Ask the right questions Once end goals have been identified, the next step is to figure out key information needed for informed business decisions. Translate information into insights The final step is to derive the required information to make better strategic decisions and generate more value from data.

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Best Practices for Supplier Management

Obobo

Consider these best practices as you build the right supplier management system for your business. Your company may need a risk assessment professional or a risk assessment committee, depending on its size. A successful supplier management program goes beyond strategic sourcing. Table of Contents.

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How To Create Savings With Better Spend Management In Procurement

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. All organizations, regardless of their size and type, should develop a spend management process. The accounting software integration also ensures that you can manage the entire Source-to-Pay lifecycle.

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The Top 8 Business Travel Management Tools

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Corporate travel management software streamlines business travel processes by automating tasks such as booking flights, tracking expenses, and providing insights into travel spending patterns. But fear not, weary traveler!

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How To Calculate Procurement Savings

Obobo

In light of the ongoing effects of the pandemic, it is essential that businesses keep track of all cost reduction initiatives and strategic sourcing in order to survive harsh economic declines. Savings tracking refers to a method of estimating how much a company will save by using strategic sourcing and other cost-effective tactics.