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What is Strategic Procurement, and How Can Cooperative Purchasing Help?

American City & Country

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.

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The risks of vendor-paid eProcurement

Bonfire

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.

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Highlighting the Impact of eProcurement in the Public Sector

ivalua

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.

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Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike

ivalua

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.

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Accounts Payable Superheroes, It’s Time to Empower your Suppliers

ivalua

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.

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Driving Value through the Supplier Experience

ivalua

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.

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Lessons from the Latest Forrester Wave Reports

ivalua

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.