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

SIG Speaks

NOVEMBER 28, 2022

Working in IT Sourcing, I am religiously keeping track of all our contracts, renewals, and expirations so that no renewals pass by without renegotiations or reviews. Some products and services that we have bought in the past are being cut off to reduce unnecessary expenses. learn more. .

Sourcing 40

Sourcing Strategic Sourcing Supply Chain Management Software 40

SIG Speaks

OCTOBER 12, 2023

An article by Forbes titled “Smart Sourcing: AI Can Amplify CPO-Led Human Intelligence” noted the idea of ‘Smart Sourcing’ which starts with tackling a huge volume of relevant data associated with every individual purchase. Organizations are now looking to utilize AI to remain competitive and enhance their services.

Sourcing 40

Sourcing Strategic Sourcing Outsourcing Regulations 40

Planergy Software

DECEMBER 22, 2023

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. That’s why many CFOs and accounting managers use Days Sales Outstanding to determine how quickly their customers pay their invoices. What's Planergy?

Sales 52

Sales Accounting Inventory Management Finance 52

Planergy Software

OCTOBER 17, 2023

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The FICO Small Business Scoring Service (FICO SBSS) ranges from 0 to 300, for instance. What's Planergy?

Accounting 52

Accounting Finance Banking Strategic Sourcing 52

Sourcing Advisors Group

OCTOBER 27, 2020

Tier 1 suppliers) and most have virtually no visibility into the remaining base, which typically account for 90%+ of all suppliers and at least 50% of the total vendor spending. The growing approved supplier base and decreasing supplier visibility will further deteriorate what is already a bleak performance of most Strategic Sourcing teams.

Risk Management 52

Risk Management Risk Management Efficiency 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

NoonDalton

NOVEMBER 8, 2023

Companies and economies are increasingly held accountable by consumers and stakeholders who demand transparency and responsibility. Transparency and Accountability: Companies engage in open communication about their outsourcing practices and are accountable for their partners’ adherence to ethical standards.

Outsourcing 52

Outsourcing Accounting Regulations Strategic Sourcing 52

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

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

IBM Services

DECEMBER 13, 2023

It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy. A procurement strategy is not merely a series of steps for acquiring goods and services. What is a procurement strategy?

Administrative 73

Administrative Sourcing Collaborations Strategic Sourcing 73

SIG Speaks

MARCH 8, 2023

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. It creates accountability to ensure. Lagging KPIs are excellent when keeping accountability for your Vendor or outsourced work.

Management 40

Management BPO Global Outsourcing Outsourcing 40

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

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

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. . This is where category managers will begin to build out their teams. learn more. .

Strategic Sourcing 40

Strategic Sourcing Sourcing Banking Retail 40

The Hackett Group

NOVEMBER 9, 2021

Key Issues Study Launch – In September 2021, The Hackett Group launched its 2022 Key Issues campaigns covering six functional areas: Finance, Procurement, Supply Chain, Human Resources, Information Technology, and Global Business Services. Services include business transformation, enterprise analytics and global business services.

Pharmaceuticals 97

Pharmaceuticals Information Technology Global Business Services Finance 97

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. Employee Safety and Security The program ensures that employees travel with reputable providers and have access to support services during their trips.

Finance 52

Finance Reduced Costs Management Risk Management 52

Planergy Software

JANUARY 19, 2024

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Vendor analysis evaluates and compares various suppliers based on their pricing, quality, reputation, reliability, and service delivery. What's Planergy?

Risk Management 52

Risk Management Risk Management Supply Chain Management Sourcing 52

SIG Speaks

MAY 10, 2022

We also have an executive team that handles many professional services engagements and renewals. It is the category manager, or sourcing as they are referred to at Raymond James, that manages the cost modeling, negotiations, etc. Lastly, there needs to be measurement and accountability. . learn more. .

Sourcing 40

Sourcing Risk Management Risk Management Strategic Sourcing 40

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

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

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

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

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

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

DECEMBER 12, 2023

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. These objectives should align with the school’s mission and long-term strategic plan. What's Planergy?

Finance 52

Finance Government Redistribution Administrative 52

Obobo

JANUARY 15, 2023

Procurement cost savings is the process of reducing costs associated with acquiring goods or services, without sacrificing quality. Procurement cost savings can be defined as the reduction in the cost of goods or services that are procured by an organization. What is procurement cost savings?

Reduced Costs 40

Reduced Costs Out-Tasking Strategic Sourcing Automation 40

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

SIG Speaks

APRIL 14, 2022

The paper then goes on to say that “the teams that should collaborate most directly are those focused on strategic sourcing and procure-to-pay.” The author then adds that "a successful source-to-settle workflow must look at the entire ecosystem that connects sourcing and procurement to accounts payable and treasury.".

Finance 40

Finance Co-Sourcing Sourcing Strategic Sourcing 40

Planergy Software

APRIL 7, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. It can take into account various elements such as quality of goods and services, cough, and the rate of on-time delivery. Use PLANERGY to manage purchasing and accounts payable. Download Free Copy. Written by.

Analytics 52

Analytics Strategic Sourcing Robotics Process Automation Out-Tasking 52

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

OCTOBER 13, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How To Set Up An Amazon Business Account. What Is an Amazon Business Account. Benefits of an Amazon Business Account. Disadvantages of an Amazon Business Account. How To Set Up an Amazon Business Account.

Accounting 52

Accounting Banking Finance Strategic Sourcing 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. learn more. . I have a Graduate Degree in Mechanical Engineering. Yrs) and ABB (5 Yrs).

Co-Sourcing 40

Co-Sourcing Sourcing Strategic Sourcing Engineering 40

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

The Hackett Group

AUGUST 10, 2021

This year’s winners were: Alcon for Plan-to-Results (Data Analytics); Bosch for Purchase-to-Pay; Citibank for Account-to-Report; Mondel?z z International for Order-to-Cash; Reckitt for IT Opportunity-to-Deployment; Vodafone Procurement Company for Source-to-Purchase; and Wipro Limited for Hire-to-Retire.

Research 52

Research Analytics Sales Finance 52

Everest Group

OCTOBER 14, 2021

It may seem at times that the IT and procurement departments can be on different planets when it comes to IT sourcing services spend. The typical procurement team is not involved in nearly half of their company’s services spend, as can be seen in the exhibit below. Source: Statista (2021). trillion in 2021, an 8.6%

Sourcing 52

Sourcing Cybersecurity Right-Sizing Risk Management 52

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 Strategic Sourcing Sourcing Analytics 52