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

Everest Group

OCTOBER 31, 2022

Supply chain visibility, strategic sourcing, cold chain requirements, sustainability demands, and personalized medicine are creating opportunities in the life sciences supply chain for IT partners delivering digital solutions. Implications for service providers. For more on supply chain visibility, see our next blog.) .

Pharmaceuticals 52

Pharmaceuticals Strategic Sourcing Manufacturing Regulations 52

Planergy Software

DECEMBER 22, 2023

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's Planergy? What Is Days Sales Outstanding?

Sales 52

Sales Accounting Inventory Management Finance 52

Obobo

JULY 1, 2022

An S2P is a sourcing and procurement process in which suppliers are sought out, negotiated with, signed up for, and eventually paid for their products or services. This in turn results in the payment of those products or services. Technologies available today could automate more than half of the source-to-pay process.

Sourcing 52

Sourcing Accounting Software Automation 52

NoonDalton

NOVEMBER 8, 2023

In the fast-paced world of global commerce, ‘outsourcing’ has often been synonymous with cost-cutting and efficiency—sometimes at the expense of ethical considerations and long-term sustainability. Companies and economies are increasingly held accountable by consumers and stakeholders who demand transparency and responsibility.

Outsourcing 52

Outsourcing Accounting Regulations Strategic Sourcing 52

SIG Speaks

DECEMBER 20, 2022

By automating data capture (from invoices, for example), processes can be built to route the invoices to the appropriate person(s) and automatically code the invoice for correct accounting. Intelligent automation benefits span the entire Source-to-Pay process. Savings from increased RFPs and auctions can be significant in some cases.

Automation 40

Automation Strategic Sourcing Data Entry Sourcing 40

SIG Speaks

MARCH 8, 2023

A KPI is a Key performance indicator; this is a measurable rate or value that demonstrates how effectively and efficiently a team or objectives is performing. KPIs are necessary to determine if a business is meeting its goals, give accountability, and leverage the health of outsourced relationships based on performance metrics.

Management 40

Management BPO Global Outsourcing Outsourcing 40

SIG Speaks

AUGUST 17, 2023

SIG University Certified Sourcing Professional (CSP) program graduate Constance Bryant shares an honest account of how the change from a grassroots process to a more sophisticated tool for a Source-to-Contract process went for her and her organization. We must have practical E-sourcing tools that allow us to be efficient.

Strategic Sourcing 40

Strategic Sourcing Sourcing Regulations Engineering 40

Planergy Software

OCTOBER 17, 2023

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's Planergy?

Accounting 52

Accounting Finance Banking Strategic Sourcing 52

Planergy Software

DECEMBER 29, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Marketing procurement is identifying, selecting, and contracting with marketing services providers. Consulting and creative services. How to gain visibility and control of your indirect spend. Download Free Copy.

Marketing 52

Marketing Strategic Sourcing Out-Tasking Sourcing 52

Planergy Software

JANUARY 19, 2024

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's Planergy? What is Vendor Analysis?

Risk Management 52

Risk Management Risk Management Supply Chain Management Sourcing 52

Planergy Software

JULY 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This payment type is typically used when employees purchase items or services necessary for their job, such as travel expenses. How to gain visibility and control of your indirect spend. When When were these purchases made?

Management 52

Management Accounting Finance Out-Tasking 52

Planergy Software

OCTOBER 18, 2023

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's Planergy?

Finance 52

Finance Reduced Costs Management Risk Management 52

SIG Speaks

JUNE 14, 2022

The hybrid procurement method combines a central procurement base with subject matter experts (SMEs) already in each department to balance stakeholders' functionalities and strategic sourcing, which gives the business the best of both worlds. . Participation and support to allow efficiency. Most important their expertise.

Strategic Sourcing 40

Strategic Sourcing Sourcing Banking Retail 40

Planergy Software

MARCH 2, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. In this blog post, we’ll cover what tail spend analysis is, its benefits, how to develop a plan for it, how to analyze data and trends, and how to best leverage tail spend analysis to improve efficiency.

Strategic Sourcing 52

Strategic Sourcing Reduced Costs Sourcing Efficiency 52

Planergy Software

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The same principle applies to spend analysis and procurement management: by focusing on the most expensive products and services, you can get the biggest return on investment in terms of cost savings.

Supply Chain Management 52

Supply Chain Management Reduced Costs Robotics Process Automation Analytics 52

Obobo

JANUARY 15, 2023

It’s a question that has been asked by many businesses looking to make the most efficient use of their resources and maximize their profits. Procurement cost savings is the process of reducing costs associated with acquiring goods or services, without sacrificing quality. What is procurement cost savings?

Reduced Costs 40

Reduced Costs Out-Tasking Strategic Sourcing Automation 40

Planergy Software

DECEMBER 12, 2023

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's Planergy?

Finance 52

Finance Government Redistribution Administrative 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

Planergy Software

JULY 27, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Expense reporting is an important process for businesses as it helps to ensure that expenses are properly accounted for and that employees are reimbursed for legitimate business expenses promptly.

Data Entry 52

Data Entry Finance Software Accounting 52

SIG Speaks

APRIL 14, 2022

The above reflects the findings from a recent Ardent Partners paper , which suggests that today's efficient world-class supply management practice should involve "multiple internal and external stakeholders.". Through this synchronization, companies will be able to “retain value efficiently and effectively in a repeatable and scalable way.”.

Finance 40

Finance Co-Sourcing Sourcing Strategic Sourcing 40

Planergy Software

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. In business, the term “preferred vendor” refers to a supplier that has been vetted and approved by a company to provide goods or services to that company on an ongoing basis. Download Free Copy.

Reduced Costs 52

Reduced Costs Finance Accounting Strategic Sourcing 52

SIG Speaks

MARCH 28, 2022

Responsible for “transforming and integrating two procurement departments into a global, world-class international team, he is accountable for the CIGNA taxonomy research, analysis, and development, including identifying 8000 suppliers with an annual spend of $4.5 Our second executive is Michael Koontz.

Strategic Sourcing 40

Strategic Sourcing Sourcing Outsourcing Collaborations 40

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. It allows organizations to assess whether or not there are suppliers capable of providing the goods or services they need before committing to issuing an RFP or RFQ. How to gain visibility and control of your indirect spend.

Supply Chain Management 52

Supply Chain Management Strategic Sourcing Sourcing Finance 52

SIG Speaks

DECEMBER 13, 2022

Total Cost Of Ownership (TCO): TCO is another topic, along with Cost Modelling, helping me finalize supplier/product based on Initial Purchase price (Capex) but taking into account all costs associated throughout the product lifecycle. Cost modeling revealed that supplier A is L1. learn more. . Yrs) and ABB (5 Yrs).

Co-Sourcing 40

Co-Sourcing Sourcing Strategic Sourcing Engineering 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. You should define your scope of work (SOW) or service-level agreement (SLA) outside your boilerplate policy document. A successful supplier management program goes beyond strategic sourcing.

Management 64

Management Right-Sizing Supply Chain Management Strategic Sourcing 64

Planergy Software

APRIL 19, 2022

Selecting the right services or vendors plays an important role in properly managing your business. He also needs to source a cleaning service that can clean the warehouse weekly, locate a hotel chain that employees can stay at when traveling for business, and find a phone plan that works best for employees and fits within the budget.

Finance 52

Finance Accounting Out-Tasking Manufacturing 52

Obobo

MARCH 30, 2023

Standard cost analysis: This method compares the actual cost of purchasing goods and services with the standard cost established by the procurement team. Procurement cost savings refer to the savings achieved through strategic sourcing , negotiation, and reducing excess spending in procurement.

Analytics 40

Analytics Reduced Costs Strategic Sourcing Software 40

Obobo

FEBRUARY 14, 2023

In this guide, we will explore what cost avoidance is and how you can use it to reduce your overall spending on supplies and services. Or, a company might switch to a lower-cost supplier for a particular good or service. Another way to achieve cost avoidance in procurement is to use alternatives to traditional products or services.

Automation 52

Automation Sourcing Strategic Sourcing Analytics 52

Obobo

MARCH 23, 2023

11 Cost Reduction Strategies in Procurement Procurement is a crucial function in businesses, responsible for acquiring the goods and services needed to keep operations running smoothly. Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing.

Reduced Costs 52

Reduced Costs Inventory Management Automation Sourcing 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. You should define your scope of work (SOW) or service-level agreement (SLA) outside your boilerplate policy document. A successful supplier management program goes beyond strategic sourcing.

Management 52

Management Right-Sizing Supply Chain Management Strategic Sourcing 52

Planergy Software

OCTOBER 25, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. You can avoid misunderstandings and resolve conflicts quickly and efficiently by keeping detailed records. Review your budget regularly and adjust it as needed to account for unexpected costs. Download Free Copy.

Management 52

Management Out-Tasking Finance Software 52

Planergy Software

MARCH 24, 2022

Define your scope of work (SOW) or service-level agreements (SLAs) outside of your boilerplate policy document. Your contract should also include clearly delineated payment terms that describe the cost of services and products, the payment schedules, payees, and any late payment penalties.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

Planergy Software

JANUARY 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. You can manage suppliers by breaking them down into different tiers more efficiently. It also gives organizations greater negotiating power because they know what services they need and how much they should pay for them.

Supply Chain Management 52

Supply Chain Management Regulations Manufacturing Finance 52

Planergy Software

SEPTEMBER 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. These may consist of movie tickets, streaming service subscriptions, concert tickets, and other forms of amusement. These taxes contribute to funding public services such as education, public safety, and infrastructure.

Finance 52

Finance Insurance Software Management 52

Planergy Software

APRIL 25, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. And as everyone races to become as efficient as possible, inventory was at the lowest possible level, if it even existed at all, thanks to just-in-time processes. Use PLANERGY to manage purchasing and accounts payable.

Finance 64

Finance Strategic Sourcing Government Management 64

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. Download Free Copy.

Analytics 52

Analytics Out-Tasking Right-Sizing Sourcing 52