What Is Guided Buying and Why Does It Matter?

So you’ve met the right supplier and sat through price negotiation meetings which resulted in a contract pricing agreement. How do you translate your contract pricing efforts into actions that bring better savings, compliance and drive the right policies? The answer is through guided buying....

Procurement Documents 101

The two most basic entities involved in the procurement process is a buyer, the procurement department of a business and a seller, or a vendor. Throughout the procurement process, a lot of communication happens between these two parties all the way from source to pay,...

Getting to The Core of Your Vendor Management Challenges

A key external party that plays a big factor in the success of procurement is vendors. Procurement teams may be directing their personal attention to other activities in the procurement process such as requisition and payment but leave vendor management in the back burner. Effective...

The Best Practices of Successful Procurement Teams

The function of procurement teams is more than just procuring goods and services relevant to a business. The procurement role is considered to be fundamental towards achieving sustainable cost management for a business. With the procurement activity being one of the main drivers behind savings...

What is Procurement and Why Does It Matter?

Does your company have its own procurement team? If the answer is no then they might be wasting a lot of time and resources. Procurement can be a confusing topic for many businesses. Hence, they they tend to avoid the whole concept of it, but...