ERP systems play a vital role in the enhancement of a business’s back office functions related to technology, human resources, marketing, manufacturing, finances, and much more. Many companies are realizing that the functionality of these processes can be further enriched by integrating their ERP software with automated (processes and systems largely operated by technology) solutions…
The Supply Channel is an organizations ‘life-blood’, and therefore the nature of Supplier Relationship is a huge determinant of the business’ chances to succeed. The output of the organization is, largely, dependent on the input, which is availed by the supplier. A business establishment ought to, therefore, put a great deal of effort in maintaining…
It’s that time of year again….! Data-Driven Approval Routing and Workflow for QAD Users Mark your calendars for MWUG’s Spring 2019 Conference, scheduled for September 22-24, 2019, at the beautiful new Renaissance Westerville in Columbus, OH. Case Study session: Presented by Sean Brown, IT Manger at Somero Enterprises, on Tuesday, September 24th, 8:30 AM. Download…
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…
Upgrading 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…
Expanding 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…
As 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…
Manufacturing 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…
Maverick 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…
