Remove Finance Remove Reduced Costs Remove Risk Management Remove Strategic Sourcing
article thumbnail

How Strategic Procurement Can Give You a Competitive Advantage

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How Strategic Procurement Can Give You a Competitive Advantage. Procurement Strategic Sourcing. Easier to Mitigate Supply Risk Supplier risk management is crucial for any organization.

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. This can provide peace of mind that your business’ finances are well-managed and help enable more informed decision making, and easier financial reporting.

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

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

article thumbnail

Everything you need to know about Procurement savings

Obobo

Procurement and Finance teams are no different – they’re passionate about cutting costs and creating value for the company. We’ll cover the different types of savings, and provide concrete advice on how to identify those opportunities using the best practices of both Procurement and Finance departments. Table Of Content.

Finance 45
article thumbnail

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

Planergy Software

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
article thumbnail

The Top 8 Business Travel Management Tools

Planergy Software

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.

article thumbnail

Supplier Management Best Practices

Planergy Software

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.