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The 5 biggest problems in automotive procurement (and how to solve them)
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Last month, we examined the current constraints on procurement today and discovered that data spend quality is an issue that’s holding organizations back. Digging in further, we found that spend classification is a big factor affecting organizations’ abilities to get high-quality data. The reality is you don’t know what you’re actually spending in each category.
Xeeva Inc., a global provider of intelligent, cloud-based procurement, sourcing software, and financial solutions in Madison Heights, has announced an investment of more than $40 million led by PeakEquity Partners.
Ever wonder why many companies view indirect procurement as a non-strategic back office function? Maybe it’s that indirect practitioners often focus too narrowly on measuring cost savings from indirect spend sourcing initiatives and lose sight of how those initiatives impact core financial metrics such as total cost of ownership (TCO), operating profit, working capital, and cash flow, among others. Therefore, adopting a well-structured indirect spend management framework that establishes that connection can bring real value...