article thumbnail

Travel and Expense Management: What Is It, Challenges and Best Practices

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. With the right tools, you can automate the process so that all you have to do is snap a picture of your receipts, and they’ll be filed away automatically. How to gain visibility and control of your indirect spend.

article thumbnail

11 Cost Reduction Strategies in Procurement

Obobo

Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing. Overall, these 11 cost reduction strategies in procurement demonstrate that companies can significantly reduce costs and maintain profitability with the right procurement management practices.