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Your procurement strategy should outline short-term and long-term goals, identify potential risks, and focus on building strong supplier relationships. Leverage Group Purchasing and Cooperative Contracts for Cost Efficiency One of the most effective ways to streamline procurement is by using group/cooperative purchasing contracts.
Limited supplier reach: ERP systems don’t go far enough when it comes to reaching and managingsuppliers. There’s often little visibility into supplier performance and risk, limited supplier collaboration and communication, and little or no ability to managesuppliercontracts and agreements.
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. Let’s explore further.
For the short-term, a shift to local production alleviated reliance on Asian suppliers and helped mitigate risk, but a longer-term solution will require identifying opportunities to optimize costs, find alternative suppliers and enhance supply chain visibility. Enter eProcurement.
Having a solid understanding of public procurement principles enables procurement professionals and suppliers to confidently navigate public sector procurement. A transparent approach lowers procurement risk, prevents corruption, and fosters confidence between suppliers and public sector organisations.
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.
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. During an interactive, productive, day-long discussion we covered: 1.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which provide procurement with the tools needed to maximize the value they get from their supplier relationships, automate and streamline processes, and identify opportunities for cost savings. Let’s explore further.
This year, our discussions covered Invoice Automation, Scope 3 Emissions, ContractManagement, Supply Chain Collaboration, Indirect/Services Procurement, and SupplierManagement–Customer of Choice. Thank you to our guest speakers, Solution Consultants, and the Product Marketing team!
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. Christopher Bourez, Artificial Intelligence Architect at Ivalua.
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. One of the initial use cases the team is tackling is for contract analysis. .
Sylvie Noel CPO, Covéa talks about how people used to complain about the Procurement Black Tunnel and both Deutsche Telekom and Maxim Healthcare had so many issues getting users and/or suppliers onboard with previous solutions that they ended up moving to Ivalua to help them with user/supplier engagement.
Global automotive component supplier Meritor is a great example. They configured a unique approach to new product introductions (NPI), digitizing their engagement with suppliers, resulting in bringing more products to market faster and with greater profitability, multiplying their stock price over the period.
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