A firm looks to cut spending. They could start by downsizing. Clearly, manpower could be the first place they’d wish to target. Next in line presumably would be capital costs and infrastructure. This is visible expenditure that can be immediately attended to and reduced. What about costs incurred from all the back-end operations? Not just […]
Procurement Management Software: Track & Control Indirect Spending Read More »
For medium and large scale industries, procuring materials has always been a large scale operation. When it comes to procuring goods and services, the traditional business route is to order in bulk. From the manufacturing point of view, this helps save on cost per unit of output as the scale of the order is increased.
Online Procurement & Economies of Scale Read More »
The fundamental aim of automation is to streamline existing business processes by eliminating waste. A considerable portion of managerial duties involve monitoring the cash flow to and from an organization. The traditional expense management route called for investing considerably in manpower and time. A separate department needed to be set up to maintain the accounts
Introducing Lean Management to Traditional Businesses through Automation Read More »
In a changing world where everything is becoming dynamic gradually, using the same old processes and tools will only serve to put us behind the rest. Today’s customers are not happy to be kept waiting and demand immediate service. Businesses have to adapt to the customer’s demands or they risk losing the customer to someone
Document Management Software – The Essential Digitization Tool Read More »
Almost every organization has some kind of an expense management process in place. However, many of them do not care to define and implement something equally important – an expense management policy. Expense management is a long-winded process that needs buy-in from several different stakeholders; lack of a clearly defined expense management policy can have
The Importance of an Expense Management Policy Read More »
Suppliers make up an important part of any organization’s procurement strategies and methodologies and every procurement professional wishes for the best relationships with them. They are, after all, important stakeholders in the business, and organizations have to do what they can to ensure that their relationships with customers are always good. These good relationships might
Enhancing Relationships with Suppliers Read More »
Efficient travel and expense management is a must for every organization. After all, every organization has a fair number of employees who travel on business purposes and managing their expenses is the responsibility of the organization. This process throws up a lot of challenges for T&E professionals, and if remedies are not sought immediately, they
Travel & Expense Management Challenges & their Remedies – Part Two Read More »
Businesses are becoming more and more active and dynamic today. Gone are the days of long development and sales cycles, complex business processes, and communication gaps. At least, even if they haven’t completely gone away, no one today is content with them. Today, everyone wants things to happen quickly and no one has any intention
Making Online Signature Software a Part of your Business Process Read More »
Travel and expense management in any organization has its own set of challenges. Some of these arise due to the nature of the process, some man-made, some trivial, and some serious. Whatever the cause, these challenges can have an adverse effect on the organization’s bottom line. In this post, we’ll take a look at some
Travel & Expense Management Challenges & their Remedies – Part One Read More »
Any employee who travels on official business has to report all his expenses to claim them later. These expense reports list down all the expenses incurred by the employee in the course of his travel and each expense has to be backed by its receipt as proof. Receipt audit is the act of cross-checking an
Receipt Audit – What is it and Why Do You Need It? – Part One Read More »
