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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. For instance, instead of conducting lengthy RFP processes, your team can access ready-made contracts with industry leading suppliers.
If you’re planning a transition to eProcurement, you’ve likely come up against the question “who should pay for this?” The pandemic put a strain on already tight public sector budgets and demand for new projects only continues to climb. What is vendor-paid eProcurement? And for good reason. powered by Sounder.
eProcurement solutions are helping government agencies not only overcome those challenges but create new efficiencies never before possible, manage spend more effectively and deliver more value to the public. Prior to COVID-19, the agency accepted supplier bids by mail or in person — two methods that in an instant became impossible.
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.
In Accounts Payable, it’s the Supplier inquiry. However, could this interruption by your supplier be turned into an automation opportunity. Bad Supplier Relationship Management is the kryptonite for AP . In this situation, suppliers may start regarding AP team members as adversaries — and that’s a recipe or disaster.
The nature of Public Sector Procurement demands a high level of sensitivity to perceptions of processes, communications, and access. Creating a positive supplier community experience is essential to maintaining critical relationships and to drive optimal results on current and future projects. Happy Suppliers are Engaged Suppliers.
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.
In this way, they can be ready to face a crisis like Covid-19 or various other potential challenges — extreme weather caused by climate change, consumer demand for sustainable and ethically produced goods, trade wars or political tensions, to name a few. . Balancing New Priorities Makes Procurement More Valuable.
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.
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.
The first step is to know which suppliers the city or county does business with. The next level of risk management might include identifying and tracking subcontractors and second tier suppliers as well as general contractors/first tier suppliers.
Getting invited early in the process, instead at the moment when preferred suppliers have already been selected means you get a chance to add as much value as possible. While it’s important to have the big picture, you can’t expect to predict the exact demands facing you as a Procurement professional 5 years from now.
Today, they are tackling new priorities like risk management, supplier compliance, actionable insights. When it comes to compliance, smart procurement can help CPOs keep on top of regulations and work with suppliers to make sure they’re also toeing the line. But for this to happen, CPOs need full visibility of suppliers.
Contract Lifecycle management is an area we have seen huge demand in over the last year or two. The task of manually doing this or even using some basic automation would require weeks or months of human work to check each contract to ensure the right language is included given the context of the contract, the supplier and the buyer.
Contract Lifecycle management is an area we have seen huge demand in over the last year or two. The task of manually doing this or even using some basic automation would require weeks or months of human work to check each contract to ensure the right language is included given the context of the contract, the supplier and the buyer.
Why did these outsiders want to know about our key strategic suppliers? . There is also a discussion of what the guidance calls “concentration risk” – the danger of having too many critical functions delivered by one supplier, meaning that if it fails, there would be serious problems for the customer organisation. .
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