Have you ever wondered what the difference between sourcing and procurement is? You’re not alone. While there are key differences between the two, there are some commonalities. Sourcing and procurement are valuable practices for saving money, supporting supply chain management, and ensuring a competitive advantage when buying software. Defining your sourcing and procurement processes correctly … Read more
As the end of the year approaches, we reflect on 2022 as we prepare for 2023. From a vendor management perspective, 2022 has been both a continuation and expansion of the risks and the challenges that radically changed “business-as-usual” worldwide in 2020. Vendor Management Lessons Learned in 2022 Here are some of the biggest lessons … Read more
True or false: procurement and supply chain management is all about cost. False. Yes, cost is a driving factor. But procurement and supply chain teams today are focused more on overall value than cost. Value means a lot of different things to a lot of different people. For leading organizations though, value is often determined … Read more
Overpaying for enterprise software, cloud infrastructure, hardware and IT services is all too common. Unfortunately, inconsistencies in market pricing can make it difficult for buyers to determine whether a vendor’s pricing is within fair market value range. In this blog, we’ll discuss the importance of assessing fair market value pricing for enterprise IT purchases. We’ll … Read more
For fast-growing companies focused on adapting to changing landscapes, business process outsourcing (BPO) is becoming increasingly common. Instead of hiring in-house teams, companies are outsourcing critical business functions like IT, human resources, marketing and customer support. The Rise of Strategic Procurement The pandemic placed procurement on a higher level within business operations. By the … Read more
In the age of SaaS, effective procurement management means something different. Getting by with spreadsheets is no longer effective. In this blog, we’ll look at the elements of the modern procurement approach. You’ll learn how the right procurement system can drive value creation by strengthening the financial health of your organization. The procurement process defined … Read more
As the price of goods and services continue to increase, the need to implement solid budget controls becomes even more important. Today we’ll cover indirect procurement—what it is, how to keep a handle on it, and where technology can help. By the end of this article, you’ll have the tools and knowledge needed to get … Read more
As the end of the year approaches, now is the time to prioritize and work on vendor strategic sourcing projects. There are a variety of types of exit language that protect a business from being trapped in a deal if things change down the road. It’s easy to get comfortable with initial agreements as relationships … Read more
As companies grow, they hire entire teams to handle marketing, sales, legal, human resources; the list goes on. So why leave a complex issue like software licensing and compliance up to an IT team that already has their plate full? If your company is paying software licensing fees to any software company, it’s probable that … Read more
