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Limited supplier reach: ERP systems don’t go far enough when it comes to reaching and managing suppliers. There’s often little visibility into supplier performance and risk, limited supplier collaboration and communication, and little or no ability to manage supplier contracts and agreements.
Contract Lifecycle management is an area we have seen huge demand in over the last year or two. Many of our customers leverage our contractmanagement solution for both authoring or contract repositor. A specific application for Procurement involves contract analysis.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Ivalua’s ContractManagement module allows you to easily track milestones and consumption in real time across multiple agreements.
What’s more, PwC found that the average investment in risk management among MENA companies was $1.5 Enter eProcurement. As MENA organizations continue to move aggressively toward digital transformation, many are adopting eProcurement platforms, to digitize and automate routine, time-consuming tasks throughout the source-to-pay process.
” – Vendor Manager | ONE AMERICAN BANK Use Data and Analytics to Make Informed Decisions Modern procurement relies heavily on data. Using a cooperative purchasing program ensures compliance with state and federal laws while reducing the risks associated with supplier management. ’ and this is the way to get those.”
This professional community knows that solicitations and contractmanagement are going to be digitalized in the coming years, and appreciates our knowledge and experience in the sector. Current President of NPI National Procurement Institute. During an interactive, productive, day-long discussion we covered: 1.
The first, authored by Duncan Jones and published on December 10, is The Forrester Wave™: eProcurement Platforms, Q4 2019 , which covers purchasing and invoicing (similar scope to Gartner’s P2P Suites Magic Quadrant ). In the Forrester reports, Ivalua and Coupa appear as leaders in both the S2C and eprocurement Wave reports.
The first, authored by Duncan Jones and published on December 10, is The Forrester Wave : eProcurement Platforms, Q4 2019 , which covers purchasing and invoicing (similar scope to Gartner’s P2P Suites Magic Quadrant ). In the Forrester reports, Ivalua and Coupa appear as leaders in both the S2C and eprocurement Wave reports.
Ivalua Spend Management Insights [ivory-search] Procurement Rising: The Silent Inflation Tax on Manufacturers February 27, 2023 | | Manufacturing by Doug Keeley Last year, the Consumer Price Index was the highest it has been in four decades, making inflation one of the most concerning macroeconomic factors facing the business world today.
Contract Lifecycle management is an area we have seen huge demand in over the last year or two. Many of our customers leverage our contractmanagement solution for both authoring or contract repository. A specific application for Procurement involves contract analysis.
A staggering 73% the organisations that The Hackett Group surveyed have ongoing Master Data Management initiatives. It’s boring, and it’s so not sexy, but everyone knows that adage, rubbish in, rubbish out and this just as true for Digital Procurement. Remembering that these are Early Adopters, this is worth taking note of.
Most leaders seem to track their progress with metrics such as percent of spend managed and digitization levels, defining best-in-class as being the top quartile or similar high percentage. Bringing more spend under management and digitizing are key steps along the way. But it doesn’t by itself give you an edge.
As a reform community, we agreed that we need to focus more on long-term value, with sustainability, social value, and innovation becoming increasingly important and that contractmanagement is where this value is often won or lost.
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