Many businesses strive to maintain good relationships with customers, however unfortunately forget their supplier relationships. They neglect suppliers and do not bother to establish good relations with them. Suppliers are a fundamental part of your enterprise that you should not overlook. Developing a great supplier relationship is a crucial part of business survival and success.…
DetailsUpgrading procurement departments with innovative cloud solutions is a growing trend among modern enterprises; streamlining the approval process for procurement-related documents is a big reason why. In an effort to explain, let’s examine how dynamic approval routing significantly improves procurement processes. P2P Software Market Growth Gartner shares some interesting details: The procure-to-pay suite market…
DetailsTechnology has always been a part of building and improving supplier relationships with B2B partnerships; from the telephone to the fax machine, technology has helped businesses facilitate P2P processes and communications. This is still true today, yet the difference is the level of technology being used. In particular, the rapid advances with online technology…
DetailsExpanding you market reach with Digital Procurement While most modern B2B businesses are focusing on using digital technology to automate production, distribution, and client management processes, their procurement processes often remain stuck in analog mode. The immediate benefits of digitizing P2P processes, or digital procurement, may be harder to quantify than upgrading an assembly line…
DetailsThe value of effective communication with your suppliers cannot be reinforced enough. Just as strongly as poor communication techniques can harm your business, effective communication can give you a major advantage. Integrating effective communication techniques will help develop strong supplier relationships by promoting trust, improving risk management, and supporting long-term goals. Build Trust…
DetailsThe concept of improving supplier collaboration to improve those relationships isn’t a complex mystery, although achieving this common industry objective may seem to be at times. After a certain amount of collaboration fails, CPOs might finally ask: Is it as simple as upgrading AP departments and end-to-end P2P processes with automated digital solutions in the…
DetailsAs markets connect on a world-wide level and technology continues to rapidly progress toward digital automation, businesses are constantly adapting to keep pace with the changes. In the process of this adaptation, businesses must be shrewd when choosing solutions; enterprise level organizations have the most to gain from streamlining their P2P processes, yet also the…
DetailsManufacturing companies that operate their Procure-to-Pay (P2P) processes so that Supplier Relationships are collaborative, data-driven, strategic alliances improve client quote generation. They are lean, strong, agile supplier relationships that aren’t siloed to strict, expensive parameters. They develop with trust and time through transformative iterations that eliminate unnecessary processes, so your quotes aren’t ambiguous and give…
DetailsMaverick spend doesn’t promote efficient Procure-to-Pay processes or strategic supplier relationships since it takes purchasing outside the realm of your company’s e-procurement system. It doesn’t promote contractual compliance and it undermines trust and transparency. Whether you call it maverick, indirect, rogue or tail spend, “it’s the same challenge and leads to the same results–wasted money…
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