What to Look for in a Good e-Procurement System?

Over the years, digital technology has given mankind the power to conquer the impossible. It continues to solve man’s greatest challenges, making lives easier. In-fact several businesses thrive on these technological developments and many are gradually gravitating towards digital advancements for its advantages. Discoveries, inventions and innovations always began with a question or a problem […]

Procurement Risks & Ways to Reduce Them

There might be a general conception in business that risk-taking gives you the chance of success. Perhaps, this is true as business and political leaders in heights of their success quote risk-taking in such positivity. For instance, Thomas Jefferson once said “ with great risk comes great reward”.  In support, a research shows that risk-takers […]

Purchasing Vs. Procurement: What Is The Difference?

Purchasing and procurement are two words that we often seen used interchangeably. This mostly occurs among non-professionals, where the word procurement is used instead of purchasing and vice versa. While the two might appear to share the same meaning, they have different functions.  The inability to identify the differences between the terms may lead businesses […]

How e-Procurement Platforms Enhance Supply Chain Management

In this day and age, companies are exploring various ways to optimise their supply chain management and actualise cost saving in the management process. One of the ways this is done is by incorporating e-Procurement solutions to ensure a seamless workflow.  e-Procurement is software-based automation that automates procurement and user processes to allow for simplified […]

How To Improve Your Indirect Spend Management

Managing indirect spend is not only pivotal for every organization’s financial standing, but to also have the transparency in the company’s cash outflow. In assessing strategies, there needs to be a clarity between indirect and direct spend as managing between the two requires different set of tools and plan of action. Indirect spend generally includes […]

Managing Suppliers and Availing Cost Reductions

An ultimate goal for any business is to make profits that can contribute to the company’s probability of enlarging its scale and impact. To achieve this by delivering its products or services, a business involves an interplay of several parties that are part of its supply chain. The suppliers are one such party of importance. […]

Procurement Compliance: Control Spend & Increase Gains

In general, the term “compliance” is thought to be the overlooked devil that disables you from turning a blind eye over a pushy salesperson or forces you to do things, simply because they are on trend. However, in business, the term takes a rather serious tone as it is immediately associated with following rules and […]

Virtual Celebration Ideas

If this pandemic dictated social distancing is stopping you from celebrating and making memories, you are certainly under the delusion that partying is no longer possible. But guess what, no one has to give up on their special days. Now, you can simply enjoy life as it is and make celebrations exuberant with what technology […]

e-Procurement Systems: Why Businesses Need It?

Digital transformation has been one of the top buzzwords across industries and their respective leaders, including those spearheading procurement. Similar to digitally transforming other business areas, the digitalisation of procurement provides businesses with the opportunity to reduce inefficiencies and inaccuracies that may stem from manual procurement methods. Most businesses digitalise their procurement by adopting e-Procurement […]

What Is e-Procurement?

The extreme search for efficiency has led to the digitalization in all means.  Hence, even everyday communication has been altered due to technology. The advancement of technology has also led to the digitalization of procurement.  Communication in e-Procurement When communication is mentioned in e-Procurement it does not necessarily mean social, but rather sharing of data […]