Spend Efficiency

In the face of current economic challenges, merely managing expected spend is no longer enough. Teams are being asked to do more with less through tightening budgets, restructuring departments, and losing headcount to downsizing. To keep organizations on track through this instability, finance teams must continuously commit to increasing spend efficiency by getting the most […]

Flexibility is key to enabling business and building partnerships, and establishing payment terms is one of the greatest sources of flexibility for businesses. The option to schedule payments and manage cash flow directly impacts a company’s revenue creation and profitability. This is why many buyers seek flexible payment terms when selecting vendors. In response to […]

Successful procurement is about keeping pace with an ever-increasing cadence of purchases. Decisions must be made faster and with more confidence if companies expect to move with the market and respond to its shifting conditions. One practice that enables this speed is agile procurement.  Agile procurement eliminates many documentation-heavy, slow selection processes that drag down […]

Supplier relationships are a lot like personal relationships. Each is individual, enriches daily life, and requires different levels of attention to keep strong. Just like best friends, there are a few suppliers your business simply couldn’t live without. Businesses rate the characteristics of their supplier relationships using supplier segmentation. Evaluating your supply chain relationships with […]

Procurement teams are continually challenged to align spending with business goals. One of the most important places for Procurement to start is with indirect spend.  This may look like right-sizing a service contract to curb costs or seeking more competitive materials costs to bolster profitability. While the sums for these transactions may fly under the […]

Money management determines any business's long-term success. Yet many companies fail to do this well. They operate in a cycle of feast and famine, which leads to uncontrolled spending that saps financial strength.  This continues until a business's financial health reaches a tipping point. At this point, many organizations slash costs to make it through […]