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REDWOOD CITY, Calif. , March 31, 2020 /PRNewswire/ — Ivalua, a leading provider of global spend management cloud solutions , has announced the latest findings of a worldwide study of supply chain, procurement and finance business leaders on Effective Procurement Performance Measurement. About Ivalua.
This is a topic municipal finance expert and former mayor of Kansas City, Mark Funkhouser, recently sat down to chat about with seasoned finance and water utility leaders. Here are 4 a-ha moments from their conversation that should be on the mind of every finance professional. Federal funding initiatives in the U.S.
These multifaceted issues underscore the need for a diverse, well-informed procurementteam that can navigate the technical, ethical, legal and community aspects of implementing effective public safety tools while ensuring responsible use of taxpayer resources.”
Additionally, over half (55%) of UK businesses say that digital skills in procurement are less advanced compared to other departments. More than eight-in-ten (84%) UK businesses believe that the skill set required of procurement professionals has shifted from procurement-first to digital-first.
Additionally, over half (55%) of UK businesses say that digital skills in procurement are less advanced compared to other departments. More than eight-in-ten (84%) UK businesses believe that the skill set required of procurement professionals has shifted from procurement-first to digital-first. About the study.
New Ivalua study shows technology challenges are hindering procurementteams from achieving business objectives. The study revealed the challenges procurementteams face when it comes to achieving business objectives and the wide and growing gap in performance between advanced and less mature teams.
At the same time, two-thirds (66%) of businesses admitted they were still reliant on such processes as part of their Procurement or supplier management function. Procurement is perfectly placed to help manage this growing risk landscape, support innovation and create sustainable cost savings. please visit: [link]. About the study.
The final session of the day, ‘Driving Sustainable Procurement’ was presented by Stephen Carter. Steve discussed how Procurementteams are in a unique position to drive sustainable initiatives within their organizations and the steps they need to take to drive these changes.
If you’re part of any government procurementteam, you’ve likely been asked, “What are you doing to increase supplier diversity?” It’s also likely you’ve heard of and possibly conducted disparity studies to improve your procurement process and identify the needs of different types of suppliers.
As a result, Ivalua customers’ buyers can strategically align all 3 teams- finance, procurement, and treasury- to complete a holistic, tightly integrated Procure-to-Pay strategy. The Financeteam can focus on the release of low-cost finance and target yield-based saving programs. What’s more?
Our first day will feature Ivalua’s Founder and CEO, David Khuat-Duy , offering his reimagined vision in a post-pandemic world, leveraging digital transformation to restore growth, and igniting new opportunities for procurementteams and suppliers. Breakout : Data-Driven Procurement.
With this, businesses can unlock new opportunities and innovations by finally closing the cash gap between procurement and suppliers. By paying suppliers on-time, procurementteams can use payments to build strong, reliable, and performance-driven supply chains. About Ivalua.
Those looking to accelerate their CSR initiatives should learn from the leaders and empower procurementteams and suppliers with the technology needed to support effective decision-making and scalable collaboration”, said David Khuat-Duy, Founder & CEO of Ivalua. The study began in March 2021 and was completed in August 2021.
Inside the modern enterprise, a variety of groups use supplier master data, including not just Procurement, but also: . Based on these points, Procurement is generally the lead in many successful supplier master data programs. . So where does this leave you on your procurement journey? Who Should Own Supplier Master Data?
As a result, the skills procurement professionals need today have evolved to become more technical and analytical. However, in our latest study of UK-based procurement, supply chain and finance professionals, 86% of UK businesses claimed they had faced barriers when developing digital skills in procurement.
With this, businesses can unlock new opportunities and innovations by finally closing the cash gap between procurement and suppliers. By paying suppliers on-time, procurementteams can use payments to build strong, reliable, and performance-driven supply chains. About Ivalua.
– Editor/Co-Author CIPS Finance for Purchasers Level 6 Graduate diploma. David has over 30 years’ experience at senior executive/director level driving value and change through procurement and organisational transformation. Develop and lead the implementation of the Indirect procurement strategy.
Kicking off the day with our first keynote, Ivalua’s Founder and CEO David Khuat-Duy will present his reimagined vision in a post-pandemic world, leveraging digital transformation to restore growth, and igniting new opportunities for procurementteams and suppliers. Breakout Sessions.
No collaboration: ERP systems don’t provide support for collaborative procurement, making it difficult for procurement or evaluation teams to work together. Purpose-built procurement software provides a platform for collaboration, helping procurementteams achieve better and faster results.
Aside from mitigating risk and saving organizations money, Procurementteams have an opportunity to add value by working closely with suppliers to reduce carbon emissions while ensuring supply chain continuity through diversity and proper forecasting. Inflation Metrics. Delivering Better Visibility Across Suppliers.
As a result, the skills procurement professionals need today have evolved to become more technical and analytical. However, in our latest study of UK-based procurement, supply chain and finance professionals, 86% of UK businesses claimed they had faced barriers when developing digital skills in procurement.
Don’t miss your chance to join us to discover groundbreaking techniques to maximize the potential of your procurementteams and processes. Eloise graduated from Providence College with a dual degree in Finance and Political Science. Plus–we’ve got a few surprises up our denim sleeves – come be a part of it!
And then in August, Mr McKee, the Minister for Public Finance, visited Dovetail Enterprises to hear about the important role supported businesses continue to play in boosting the Scottish economy through delivering goods and services, and providing meaningful employment, training and support, for those of us who may otherwise be excluded.
Back over to the Cinema, we were “Bridging the Procurement-Finance Gap” with Justyna Dutka , Indirect Procurement Process and Data Senior Manager at AmRest and Stephen Carter , Director of Product Marketing at Ivalua. The group covered localizing suppliers, right shoring, ESG, and managing risk.
Public procurementteams are required to assess how suppliers contribute to employment and environmental and local community objectives. This makes the procurement process in the public sector more complex as it considers factors other than price.
I see boards turning to Procurement to find every opportunity to protect the bottom line in the face of tremendous top line pressure and uncertainty. As financing and cash flow is uncertain, cash is once again king and Procurement and AP leaders are being asked to forecast and preserve cash wherever possible.
Ivalua Spend Management Insights [ivory-search] Navigating CSRD Regulation: What Procurement, Supply Chain, and Finance Leaders Need to Know June 12, 2023 | | Sustainability by Vishal Patel In an effort to drive sustainability and combat climate change, the European Union has introduced the Corporate Sustainability Reporting Directive (CSRD).
Finding the 2nd right answer requires stirring up the procurementteam membership and looking at the issues from other perspectives. Bringing a team together is like having the right ingredients for a recipe. The advocates for the status quo phase will often dis the new ideas and rationalize why these ideas won’t work.
This prompted the procurementteam to dig deeper and figure out what that barrier was, and why it was difficult for these businesses to get bonding. Could a local indigenous finance institution step into the role of a surety company and provide the bonding requirements to the local business community?
Where Ill be taking a look back at some of the recent developments and a quick look forward at what’s coming up across the public procurement community. First up, the Minister for Public Finance, Ivan McKee, recently brought together the leadership of public bodies, elected and operational leadership of Local Government.
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