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

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

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.

As I showed in the last post, one of the biggest benefits of online business intelligence software is that it can help with the democratization of data and expertise. In this post, we’ll look at some more. Data-driven decisions: The English business magnate Richard Branson once said, “I rely far

In a previous post titled ‘What Hercules’ second labor teaches us about procurement fraud,’ we equated procurement fraud to Hydra, the many-headed monster that Hercules had to slay and concluded that to eliminate it, instead of tackling each individual case of fraud as it occurs, organizations have to take steps

To put it simply, an invoice is a bill. You fulfill your customer’s need with a product or a service and you present him/her with an invoice to receive payment. Immediate payment of invoices is not the norm; it generally takes about 30 – 60 days for an invoice to