Continuing from last week, here are some more best practices in procurement that you can implement at your workplace. A governing policy: Every organization has its own rules and regulations governing procurement. Some organizations frown at purchasing from anyone who has an adverse impact on the environment while some organizations do not like to procure […]
Best Practices in Procurement – Part Two Read More »
Today, procurement is an important strategic function that supports nearly all of the organization’s business operations and has an impact on organizational expenditure. Every organization wants to make its procurement as optimal and efficient as possible. By nature a complex process, it takes time for procurement to reach that stage immediately. Here’s the good news
Best Practices in Procurement – Part One Read More »
Supplier relationship management is one of the most important mandates of the procurement function of any organization, part of which is implementing best practices in supplier management. In this post, we’ll see some of these. Suppler performance management: This is an important activity that is unfortunately not followed by too many firms around the world
Best Practices in Supplier Management Read More »
In the previous post, we looked at the importance of visibility and how software allows organizations to have complete visibility into and across the business. Taking it from there, in this post, we’ll look at another kind of visibility that comes with software – real-time. Real-time visibility allows organizations to keep themselves up-to-date with everything
How Software Improves Visibility and Why it is Important – Part Two Read More »
In today’s increasingly data-driven world, restricting access to Business Intelligence (BI) to a few individuals or a few departments of an organization does not really offer any value to the organization. BI solutions can be costly to deploy and maintain, and if the whole organization is not benefitting from them, then the value is lost.
Business Intelligence for Everyone – Part Two Read More »
No one likes to waste time and money doing mundane things that can be done faster using technology. A case in point is invoicing. Whether they offer products or services, freelancers and organizations of all sizes have to send invoices to their customers to collect payments that are due. While a typical freelancer probably sends
Online invoice software makes invoicing convenient and hassle-free Read More »
Among all the efficiency, automation, and ROI arguments for software, one important benefit of business software goes missing. Both the seller and the buyer are equally culpable in this. Both sides continuously harp on what they consider to be the important parameters but fail to grasp the importance of visibility that comes from deploying software
How Software Improves Visibility and Why it is Important – Part One Read More »
In the second part of this post, we’ll continue where we left off and see some more benefits of reverse auctions for buyers and sellers. Not constrained by location: Even though they would like to bid for a contract, many suppliers are often constrained by their locations. With reverse auctions conducted using online procurement software,
Benefits of Reverse Auctions for Buyers and Sellers – Part Two Read More »
Reverse auction, the process by which an organization purchases its raw materials or supplies, is being adopted by more and more organizations today. A system where the traditional roles of the buyer and seller are reversed, in a reverse auction, the supplier’s bid for a chance to fulfill a buyer’s requirements instead of a buyer
Benefits of Reverse Auctions for Buyers and Sellers – Part One Read More »
Online expense report software is a business management application that allows organizations to streamline and simplify their entire travel and expense management processes. It can be scaled up to meet the needs of organizations of all sizes and is comprised of several additional modules that can help accelerate several tasks. Here are some reasons why
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