Remove Automation Remove Reduced Costs Remove Sales Remove Strategic Sourcing
article thumbnail

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. To configure, manage, and track custom savings, procurement teams often use source-to-pay or finance software. Table of Contents.

article thumbnail

Budgeting Process: Steps and Best Practices for Planning a Budget

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Identifies Potential Financial Problems Before They Arise Regular budgeting lets you spot financial issues early on, such as declining sales, rising costs, or cash flow shortages.

Finance 92
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Corporate Travel Program: How To Create a Program for Employer and Employee Needs

Planergy 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? Modern Spend Management and Accounts Payable software.

Finance 52
article thumbnail

CFO Challenges and Priorities in 2021 And Beyond

Planergy Software

They focused the lion’s share of their time and skill set on dealing with regulatory issues, guiding their teams in cutting costs, managing cash flow, and enforcing budgeting initiatives, and then reporting the results. They don’t just lead the finance team or spearhead initiatives to reduce costs.

Finance 97
article thumbnail

Everything you need to know about Procurement savings

Obobo

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
article thumbnail

Horizontal vs. Vertical Integration: A Comprehensive Guide

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Forward integration allows a company to gain more control over sales, distribution, and customer relationships and can lead to increased market share, improved profit margins, and enhanced customer experiences.

article thumbnail

Big Data Analytics: What It Is and Why It Is Important

Planergy Software

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. How to gain visibility and control of your indirect spend. Download Free Copy. Written by.