Is your organization ready to take on indirect spend?

This quiz goes through some of the key procurement strategies and technology capabilities that you need to successfully tackle indirect spend. To get your grade – just answer the questions below, tally them up, and discover if your organization has what it takes.


IndirectSpendQuiz

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If you didn’t answer yes to everything, check out our educational whitepaper to learn more about integrating AI technology into your organization and see which vital procurement strategies you can implement to start driving results now.

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Procure-to-Pay

Spend Under Management Part 3 of 4

In our last post. we discussed adopting spend under management (SUM) and the first of five principles. Here are the other four: 2) Purchase through a formalized requisition to purchase order approval process. The purchasing processes of an organization should be governed by policies and procedures that are complete and enforced universally. Simply having them in place is a starting point but the key issue is enforcement. Are all the spend areas incorporated? Does my...

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Our take on Gartner’s 2018 predictions for procurement and sourcing technology

In Gartner’s recent annual report, they discuss their predictions as to what will have a great impact on procurement and sourcing technology in the coming year and how the market will change over time. One thing that is definitely clear – the procurement and sourcing market is evolving quickly as technology continues to advance. The summary of the report suggests that CPOs, IT leaders, and procurement organizations need to “plan for the impact of virtual...

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Supply Risk Management and Supply Chain Visibility

Setting up systems to monitor supply risk management and supply chain visibility can preempt future performance issues that your organization may encounter. Predictive financial performance monitoring tools are often of value to companies monitoring the activities of their suppliers – indeed, recently one large global manufacturer was able to prepare for the impending bankruptcy of a major supplier due to their predictive analysis, indicating that the supplier was developing cash flow issues. Related: Supply risk...

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