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What is Procure-To-Pay and How Companies Are Automating It
Procurement 8 min read

What Is Procure-To-Pay and How Companies Are Automating It
A robust procure-to-pay process (P2P) is one of the most beneficial systems to speed progress while retaining visibility into spending.
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Direct vs Indirect Procurement Differences
Procurement 7 min read

Direct vs Indirect Procurement Differences
Tackling the opportunity cost of projects and maintaining cash efficiency is key to upholding profit margins. But sometimes, you can’t tie spending to projects or billable activities. This is called indirect spend, and it has just as significant an impact on your business.  To truly get the most opportunity out of every dollar, you need […]
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Addressable Spend: Your Guide to How To Optimize It
Procurement 6 min read

Addressable Spend: Your Guide to How To Optimize It
As a best practice, your procurement team should have a hand in sourcing and purchasing the supplies, services, and goods your company needs to thrive. A well-run procurement organization sets strong procurement policies, optimizes company spend, secures the supply chain, and ensures your spending initiatives yield the best results. They handle what is called “addressable” […]
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Applying Agile Procurement Principles for Increased Efficiency
Procurement 9 min read

Applying Agile Procurement Principles for Increased Efficiency
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 […]
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5 Procurement Processes Every Company Must Automate And How
Procurement 7 min read

5 Procurement Processes Every Company Must Automate and How
Initially, inefficiencies in procurement are merely a nuisance. But gradually, these simple manual processes compound to consume time, productivity, and money. Faster than most organizations realize, the pace of growth outstrips the ability of the accounting and procurement teams to keep up. Automation is the best source of relief from these common business problems. Automation […]
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Tactical Sourcing vs. Strategic Sourcing in Procurement: What’s the Difference?
Procurement 8 min read

Tactical Sourcing vs. Strategic Sourcing in Procurement: What’s the Difference?
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 […]
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Understanding Spend Under Management In Procurement
Procurement 7 min read

Understanding Spend Under Management in Procurement
Finance and Procurement leaders dread the end-of-month (or end-of-contract) surprises lurking on corporate cards and in expense reports. Even when the purchases are deemed necessary, they often escape compliance and legal review. They also make it more difficult to achieve spend optimization objectives because they lack the leverage of well-managed negotiations.  Getting spend under management […]
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