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
A solid contract management process extends beyond negotiating and drafting effective contracts. In this blog, you’ll learn how vendor contract management helps you achieve key procurement goals. We’ll also provide the steps you need to implement to create an effective contract management process. What is vendor contract management? Vendor contract management has many … Read more
It takes good tools to drive growth. However, inefficient software purchasing creates headaches for both the budget and technical infrastructure. Companies that prioritize their tech stack keep a handle on day-to-day tech management, SaaS licensing agreements, and legal and security concerns. An efficient SaaS management process requires ongoing efforts to maintain cost and time … 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
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
Overpaying for enterprise software, cloud infrastructure, hardware, and IT services happens a lot. Inconsistencies in market pricing make it difficult for buyers to determine whether a vendor’s pricing is within fair market value (FMV) range. The IT market is notoriously inconsistent in pricing, and it’s hard to find “comparables” to guide the assessment. It is difficult … Read more
Purchasing software is not a static process. Software pricing is subjective and dynamic. As the software buyer, it’s crucial to approach the conversation with your sales rep armed with the right data, comparison points, and negotiation tactics to approach this discussion confidently. We can help. Here are 6 tips you can use to ensure you’re … Read more
Price is not pricing when it comes to many technology contracts. After you and your team get past the “warmth” of the proposal evaluation, the contract comes. That’s often when things get considerably colder. Here are 3 tips for revealing the real price in complex technology contracts. Always look past the “price at the pump”, … 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
