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

Obobo

JULY 12, 2022

Procure-to-pay and source-to-contract are the two primary procurement cycles that are consolidated in supplier lifecycle management. The procurement and sourcing cycles can be binded together so that managers can generate quick and intelligent procurement and sourcing workflows. Supplier Risk Management.

Management 52

Management Risk Management Risk Management Collaborations 52

Obobo

JULY 27, 2022

Procure-to-pay and source-to-contract are the two primary procurement cycles that are consolidated in supplier lifecycle management. The procurement and sourcing cycles can be binded together so that managers can generate quick and intelligent procurement and sourcing workflows. Supplier Risk Management.

Management 52

Management Risk Management Risk Management Collaborations 52

Capgemini

NOVEMBER 30, 2022

By procuring data from a variety of sources, they can enrich their own data and improve in areas like risk management. It reduces the cost and you can have better risk management because you’re benefiting from experiences and the data from your competitors,” Parmar says.

Service 52

Service Finance Risk Management Risk Management 52

Planergy Software

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Steps in the Budgeting Process Budgeting is a crucial aspect of financial management that helps businesses plan and allocate resources effectively. How to gain visibility and control of your indirect spend.

Finance 92

Finance Software Accounting Management 92

NoonDalton

JULY 19, 2023

As businesses seek to streamline operations, reduce costs, and tap into specialized talent pools, RPO is increasingly becoming their go-to solution. Candidate Sourcing: Utilizing multiple channels to find candidates who fit the role’s requirements and the company culture. But why is this?

Outsourcing 52

Outsourcing Reduced Overhead Right-Sizing Risk Management 52

Obobo

OCTOBER 25, 2022

Strategic Importance of a Third-Party Risk Management System A third-party risk management system can significantly reduce the risks associated with supply chains and procurement. First, it is important to determine the specific risks that concern your organization and which parties pose the greatest risk.

Software 52

Software Management Risk Management Risk Management 52

Neo Group

SEPTEMBER 24, 2020

John Bree will also be moderating a Risk Management Panel on Third-party COVID-19 Disruption. . Risk leaders discuss current capabilities and future solutions to help companies better understand the risks involved and enable better ongoing assessment and continuous monitoring of their third parties. .

Government 52

Government Co-Sourcing Advisory Regulations 52

IBM Services

DECEMBER 4, 2023

Companies large and small are increasingly digitizing and managing vast troves of data. ERP systems like Oracle’s streamline business processes and reduce costs, leveraging information to help organizations make better decisions in rapidly changing landscapes. Some data may be moved from hardware into the cloud.

Efficiency 77

Efficiency Supply Chain Management Human Resources Reduced Costs 77

SIG Speaks

SEPTEMBER 14, 2023

SIG University Certified Sourcing Professional (CSP) program graduate Heather Frazer discusses how TCO is a great tool that will help capture the entire potential for cost savings and risk and how it is increasingly important for procurement organizations to secure reliable data. I have been with BCBST for four years.

Supply Chain Management 40

Supply Chain Management Sourcing Risk Management Strategic Sourcing 40

Vilmate

APRIL 27, 2022

It’s aimed at manipulating some particular source of data. Source: Simplilearn. Here are only a few instances of ML and AI applications in financial services: Risk management. Asset management. Statista , one more source common to rely on, states that AI use cases are global, diverse, and comprehensive.

Banking 52

Banking Finance Risk Management Risk Management 52

AS White Global

JULY 7, 2022

Thus, an offshore staff provider can offer more sources for talent acquisition than typically available locally. It’s also advisable to get an expert offshore provider with a dedicated recruitment team that’s solely focussed on sourcing IT talent to get the best candidates. An asset to business continuity and risk management.

Offshoring 52

Offshoring Service Cybersecurity Human Resources 52

Obobo

DECEMBER 17, 2021

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. As the influential thinker on management, Peter Drucker, famously said ‘if you can’t measure, it you can’t improve it’.

Strategic Sourcing 52

Strategic Sourcing Finance Software Out-Tasking 52

Infosys Consulting

OCTOBER 18, 2023

Finance Financial organizations can enhance risk management, fraud detection, and compliance with the aid of big data and machine learning. Businesses are better able to spot abnormalities and reduce risks by analyzing vast amounts of transaction data and other pertinent information.

Healthcare 52

Healthcare Banking Finance Streamline Operations 52

Planergy Software

SEPTEMBER 10, 2021

Guided buying and integration with contract management means every order is placed with the best possible supplier, at the best possible pricing and terms. Better still, every transaction is captured by the system, ensuring total spend transparency and further reducing costs by improving data quality. Improving risk management.

Inventory Management 59

Inventory Management Supply Chain Management Data Entry Labor Costs 59

Metasource

MARCH 1, 2022

Facilitating transformation in the truest sense, today’s solutions incorporate e-forms, workflow automation, and content management platforms to eliminate manual tasks, enhance public service responsiveness, and create measurable internal operational efficiencies. Finance, controller, budget, and management offices. Risk management.

Government 52

Government Robotics Process Automation Human Resources Automation 52

SIG Speaks

NOVEMBER 30, 2021

Join your sourcing, procurement, and risk management colleagues in this two-hour interactive virtual environment to be challenged with topics related to our industries! Procurement leaders worldwide are striving to drive operational efficiency and reduce costs in the new normal. Sourcing Industry Landscape Podcast.

Sourcing 40

Sourcing Business Process Outsourcing Automation Reduced Costs 40

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. Mostly, data is stored in disparate systems with varying degrees of accuracy across sources.

Analytics 52

Analytics Accounting Finance Strategic Sourcing 52

Planergy Software

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. A well-designed corporate travel program prioritizes employee safety by vetting travel suppliers, providing travel risk management resources, and offering 24/7 support for travelers in case of emergencies.

Finance 52

Finance Reduced Costs Management Risk Management 52

Mercans

OCTOBER 26, 2021

Training in liability management. Reduce costs. They can also help them save money via: Better hiring practices which reduce turnover. Single-sourced HR and benefits via PEO’s help clarify for clients how their investment in their workforce is making improvements. Sources: [link]. Verification of employees.

Co-Sourcing 52

Co-Sourcing Payroll Insurance Administrative 52

Planergy Software

DECEMBER 16, 2021

It includes managing supplier relationships, inventory management, category management, and more. It includes processing requisitions, planning, budgeting, inventory management, sourcing, contract management, and product development. How Spend Management Improves Procurement.

Management 40

Management Inventory Management Supply Chain Management Finance 40

Obobo

JANUARY 12, 2023

What is an Automated Vendor Risk Assessment? Vendor risk management is an important part of any business’s operational processes, and it’s essential for organizations to ensure that their vendors are compliant with industry standards. One way to do this is through an automated vendor risk assessment (AVRA).

Automation 40

Automation Reduced Costs Risk Management Risk Management 40

Paysquare

AUGUST 7, 2023

Overall, outsourcing accounts is significant as it enables businesses to streamline operations, reduce costs, access specialized skills and maintain compliance with accounting standards and regulations. Monitor and Manage Risks Identify and manage potential risks associated with accounting outsourcing.

Accounting 52

Accounting Outsourcing Collaborations Out-Tasking 52

Planergy Software

SEPTEMBER 8, 2022

Supplier relationship management is crucial for your operations. If suppliers feel like you’re constantly criticizing them or looking for ways to reduce costs, they may be less likely to want to do business with you in the future. This includes adhering to regulatory requirements, ethical sourcing practices, etc.

Management 52

Management Finance Flexibility Software 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. By adopting best practices such as spend analysis, supplier management, and e-procurement , companies can save money and increase efficiency. What is Procurement?

Finance 45

Finance Strategic Sourcing Software Reduced Costs 45

Frevvo

JANUARY 3, 2022

The process for each type of procurement will generally follow the same set of steps, which includes sourcing, generating requests, negotiating contracts, and more. What Is Procurement Management? Reducing costs is a top priority for 76.4% Services: Services procurement includes procuring people-based services (e.g.,

Management 52

Management Automation Software Out-Tasking 52

Frevvo

JANUARY 3, 2022

The process for each type of procurement will generally follow the same set of steps, which includes sourcing, generating requests, negotiating contracts, and more. What Is Procurement Management? Reducing costs is a top priority for 76.4% Services: Services procurement includes procuring people-based services (e.g.,

Management 52

Management Automation Software Out-Tasking 52

Obobo

MARCH 19, 2023

A well-managed contract can provide significant benefits to an organization, including improved relationships with vendors and partners, reduced costs, and increased operational efficiency. Benefits of Contract Management Lifecycle Have you ever wondered about the importance of contract management lifecycle?

Management 40

Management Reduced Costs Efficiency Regulations 40

Obobo

MARCH 19, 2023

” Proper contract management is essential to meet regulatory requirements, manage costs, maintain proper oversight of business agreements, and minimize legal conflicts. By leveraging a CMS, businesses can achieve increased efficiency in their operations, reduce costs, and minimize risk.

Management 40

Management Automation Out-Tasking Administrative 40

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. It also involves risk management, supplier relationship management (SRM), and contract management.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

Planergy Software

SEPTEMBER 20, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Once you’ve identified a travel management app, ensuring all stakeholders are on board with its implementation is important. How to gain visibility and control of your indirect spend.

Management 52

Management Right-Sizing Software Finance 52

Obobo

MARCH 19, 2023

Increased Efficiency A contract management system can automate routine tasks such as contract creation, approval, and renewal. In summary, a well-executed contract management system can improve compliance, productivity, risk management and collaboration within an organization, leading to increased profitability and a good business reputation.

Management 40

Management Automation Collaborations Out-Tasking 40

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. While these investments can lead to long-term benefits, they can also strain a company’s financial resources and require careful planning and risk management.

Manufacturing 52

Manufacturing E-Commerce Human Resources Marketing 52

Obobo

MARCH 19, 2023

Providing accurate, factual, and up-to-date information that is supported by reliable sources and references is essential. By centralizing contract data and documents, CLM software can help businesses manage contracts more efficiently, reduce the risk of errors or missed deadlines, and gain insights into their contract management process.

Software 40

Software Management Collaborations Automation 40

Obobo

MARCH 19, 2023

– Contract monitoring and management: This involves reviewing and monitoring the contract to ensure that the vendor is meeting their obligations. – Risk management: VCM helps identify and mitigate risks associated with vendor contracts, such as cybersecurity threats, data breaches, or financial instability.

Management 40

Management Reduced Costs Automation Accounting 40

inDinero

SEPTEMBER 25, 2024

This transaction is an excellent source of working capital because it reduces the amount of time a firm must wait for a payment. A creditworthy customer suggests that the sale is likely to get paid on time, reducing risk and so reducing costs. As with any loan, the creditworthiness of a client is critical.

Finance 52

Finance Accounting Banking Sales 52

Globalization Partners

DECEMBER 30, 2021

Companies can also reduce costs through international growth, as some governments offer incentives for companies to invest. Successful companies know how to source resources in the most cost-effective way, including those that aren’t readily available in their primary locations.

Payroll 98

Payroll Research Government Marketing 98