Businesses have followed paper-based methods for a long time while transacting with vendors. But the approach can be full of issues. Multiple AP teams need to wait for invoices and bills in the mail and then have employees manually type up the details before payments can be issued. This pandemic has aggravated problems in such traditional methods, as staff work ...

The procurement role within organizations has been viewed as a critical but static business layer for many years. Explicitly focusing on minimizing vendor expenses and boosting business spending visibility was where the priority began and ended for procurement departments. Here, acquiring an executive table was challenging for many procurement leaders since the strategic business and continuity planning involvement was limited. ...

The procurement function has a wealth of data which can be used to enhance the performance of the entire process. Most businesses don’t have the proper tools to capture this type of data, much less apply the analytics and turn that data into something useful. Generally, procurement systems only collect transaction data and line-item information. This process, however, misses the ...