Purchasing Process

Improving your approval process has the potential to improve every aspect of your company’s work and finances. Build stronger processes with this full guide.

Many small businesses pay retail rates for office supplies and materials simply because they don’t have the large-scale buying power or sufficient negotiating skills to cement better rates. But as businesses grow, the expense of retail pricing puts increased pressure on working capital. Businesses must look for ways to optimize cash flow and get ahead […]

Tackling the opportunity cost of projects and maintaining cash efficiency is key to upholding profit margins. Sometimes, though, you can’t tie spending to projects or billable activities. This is called indirect spend, and it has a significant impact on your business.  To truly get the most opportunity out of every dollar, you must control both […]

Stakeholders need to move quickly to keep up with business demands. But how fast is too fast? When it comes to procurement, tactical sourcing offers speed—but it may leave more on the table than you realize. Today we examine the tactical approach to sourcing and explore whether the speed advantages of this transactional approach outweigh […]

With the volume of purchases flowing through the modern purchasing department, any opportunity to make things easier is welcome. The average purchase order (PO) takes many hours to source, negotiate, submit, and fulfill. Reducing the volume of POs that flow through the procurement process saves your accounting department time and money while reducing errors. For […]

Every business relies on a steady flow of supplies, materials, and services to ensure that things run smoothly and production is consistent. The process for ordering supplies should be similarly streamlined. When your stakeholders need something delivered, they need an efficient way to communicate that need and have it filled. In most cases this communication […]