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Strategic procurement is more than just buying goods and services—it’s about creating value, optimizing resources, and aligning purchasing decisions with organizational goals. In this blog, we’ll explore key best practices and show how leveraging group/cooperative purchasing can help you master the art of strategicsourcing.
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. Procurement software offers a one-stop solution that covers the whole range of contract management challenges.
in “ The Forrester Wave™: Source-to-Contract Suites, Q4 2019.” Ivalua is now the only vendor positioned as a Leader in four separate reports — the Gartner Magic Quadrant for StrategicSourcing Application Suites, Gartner Magic Quadrant for Procure-to-Pay Suites, The Forrester Wave™: eProcurement Platforms, Q4 2019 and this report.
in “ The Forrester Wave™: Source-to-Contract Suites, Q4 2019.” The current offering components scored include spend analytics, eSourcing capabilities, contract life-cycle management, supplier risk and performance management, integration, globalization and references for usability and vendor support.
This helps organizations avoid supply disruptions in times of crisis such as during Covid-19, support strategic objectives such as increasing spend with diverse suppliers and improve quality and savings from strategicsourcing, especially for new categories where there is less knowledge of the market.
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.
A form arrived on my desk that required us to list some key contracts – I’m not even sure where it came from, to be honest. Why did these outsiders want to know about our key strategic suppliers? . There is also a strong focus on contract exit provisions. But it seemed a bit of a cheek, really.
If you are getting started, you are likely looking to start with technology to address a specific process ( StrategicSourcing or P2P for example). For advanced respondents looking to build a competitive advantage, the top obstacles are integration of S2P tools followed by Procurement’s change resistance (13%). Plan to avoid those.
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