Are you a procurement leader? Struggling to mitigate the high costs and complexity of processes caused by supply chain disruptions? If the answer is YES, please read on…! Such risks as extreme weather, economic uncertainties, global pandemic, etc., have proven to be absolute threats to procurement and your supply chain. But the good news is,…
Time-Consuming — When a QAD purchase requisition is created, it most likely needs to go through a ‘manual’ approval process and chances are that it will be delayed as there is no proper ‘structure’ put in place for faster approvals. Lack Of Policy Compliance — Even though organizations do have a purchasing policy, it may not be…
Technology has the capacity to transform an organization, allowing it to become more innovative, agile, proactive, and responsive. The pandemic has accelerated the need for companies to step up the pace of their digital transformations, embracing technology in new and strategic ways. Key areas where technology can make measurable advances are in Purchasing Management including Data-Driven Approval Routing and…
How do you boost productivity in QAD Procurement with Data-Driven Approval Routing and Workflow? Automation software has changed how we do business. Integration of this technology in the business environment is resulting in more efficient processes. In return, businesses are achieving higher levels of productivity and profitability. One such innovation is Data-Driven Approval Routing and…
The New ‘Business-Norm’ What is driving the Next Wave of change in Procurement? 1. Shift towards Business Process Automation and ‘Data-driven’ Approval Routing and Workflow. 2. Priorities of procurement leaders and their teams have rapidly shifted from running sourcing processes and negotiating contracts to partnering with business leaders so that they can immediately understand leaders’ requirements…
Over the years, due to increased competition, the role of procurement and procurement compliance in the organizational ecosystem has evolved. Initially, companies employed a passive procurement approach, which was primarily a clerical function supporting the technical aspects of a company. This evolved into independent procurement, which had more focus on improving efficiency, then supportive procurement, which…
Automation is appealing in any industry. In fact, a recent OECD study(1) showed that at least 14 percent of all jobs are currently capable of being automated, with plenty more on the way. One of the nearly universal places to start implanting automation is with procurement management. When considering the inevitable time lost to filing,…
Expediting Costs: Expediting(1) is a process of procurement undertaken by businesses when they need to ensure the timely and quality delivery of material. The process involves a business contacting its supplier either for inquiries on the schedule of delivery or for a review of a delivery schedule due to a particular issue. When it comes…
Procurement Budget: Budgeting, while many times painful, is among the most important aspects of an organization(1). In the past, the procurement department was not included in the budget-making process. It was not represented in organization-wide budget meetings. The role of procurement in budgeting was relegated to direct acquisition. However, currently, things are changing, and procurement…
Beating Fraudsters at Their Game: Insights on How Procurement Solutions Help to Curb Fraud (Published May 30th, 2019: MWUG Spring Newsletter) Fraud cases are on the rise. Today, many businesses fall prey to fraudsters, thanks to technological loopholes. Fraud has adverse effects on an enterprise regardless of the size. Among the main outcomes of fraud…
