Blogs
Block Chain technology
Blockchain has built significant inroads in procurement industry today. The new technology acts as a bridge between machines and humans and build trust between partners by creating smart contracts, improving purchase order cycle, providing supply chain visibility
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WHY SHOULD YOU CHOOSE E-PROCUREMENT SYSTEM OVER A TRADITIONAL ERP TO TRANSFORM PURCHASING EXPERIENCE?
The quintessential motive of both ERP and E-Procurement is to increase the productivity and efficiency of the business activities, primarily the purchase order systems.
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AI Procurement Automation
Today, procurement organizations are looking for new ways that can streamline procure-to-pay operations. AI is one trend set to transform the procurement operations through its intelligent automation.
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CAN WE CREATE SAVINGS WHILE BUYING?
Do we actually have a problem in buying? Aren't we smart, intelligent? At least I had few takeaways while buying:
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NOT JUST THE PRICE, TIME MATTERS TOO !!
When I asked last time, are you sure that the prices at which you are buying are the best? Did you just think about the final value you are paying or did u also think of the amount of time u spend on finalizing that price? Many don't.
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HOW ENGAGED IS YOUR PROCUREMENT TEAM?
In the last one and half year in my interactions with multiple organizations, I have understood that the more engaged the procurement team is with the stakeholders, the more efficient the bottom-line of the company is.
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PURCHASE PROCESS AUTOMATION... WILL IT MAKE ANY DIFFERENCE??
I, as an Inside Sales, lead for PRM360. My job basically involves interaction with the Purchase heads. In my last one year, I have interacted with more than 300 Purchase heads to understand their current
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Dig Deeper to know about Data Analytics
Be it spend data, supplier data or contract data, PRM360 enable procurement departments to unlock the real value of massive amounts of structured and unstructured data without undergoing any laborious processes.
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Read more about AI in procurement
Today, artificial intelligence (AI) is creating waves in the procurement industry by automating the full spectrum of procure-to-pay operations - from spend analysis to invoice management.
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Read about IOT
IoT has become the buzzword in procurement industry. IoT empowers businesses to gain visibility into spend analysis and identifies buyers behavioral pattern. The supply chain data is monitored continuously and analyzed for behavioral patterns to make informed decisions.
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Know more about ROI
Measuring the performance of your procurement process might seem overwhelming, but, examining procurement budgets, increased revenue or decreased costs is crucial to determine ROI. There are various KPIs in procurement - cost savings, cycle time, spend, and compliance.
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Current Trends in Procurement
With ever-changing technology, business practices and consumer demands, the procurement industry is picking momentum at a faster pace.
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The Brand Behind Procurement Savings
Savings tracking is one of the top goals of procurement, while other factors holding significant traction in mind. PRM360, a cloud-based procurement software can help you track savings in the real-time by adding visibility, and
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Impact of e-procurement in procurement world
The benefits of eProcurement are countless. It's not just increased savings, improved performance and zero errors you get, eProcurement enables procurement professionals to communicate
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eProcurement Software for Robust Spend Analysis
When it comes to procurement, gaining insights into overall spending made by various departments is important. With multiple spend categories, it is difficult for any enterprise to know who is spending what, why and where.
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RPA- Future of Automation in Procurement
Procurement professionals can easily use this interface because the programming skill required to set up an RPA are very easy to implement when compared to the traditional e procurement softwares.
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Impact Of AI on Procurement
E-procurement refers to the Business-to-Business, Business-to-Consumer, or Business-to-Government purchase and sale of supplies, work, and services through the Internet.
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Procurement Strategy Best Practices
Procurement teams in companies have received huge impetus in recent times with respect to visibility and overall growth of the organization.
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Challenges Involved in Procurement Process and Ways to Manage
Today's competitive and quickly changing world, a procurement manager is facing many challenges in the end-to-end procurement process.
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10 Purchasing Problems Faced by Purchasing Manager
Are you a purchasing manager who struggles in achieving savings goals?
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Maximizing Efficiency with Digitized Direct and Indirect Materials Procurement Software
Have you ever wondered if procurement is merely about procuring goods and services that a business needs to run every day on the surface?
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Unlocking the Potential of the Manufacturing Sector: A Comprehensive Guide to the Ten Procurement Challenges of 2023
Businesses around the globe have adapted to the digital transformation strategy.
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Leveraging KPIs for Measuring Procurement Performance
Procurement professionals are constantly under pressure to find and develop methods to strengthen and improve their procedures due to the ever-changing dynamics of businesses.
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Why Are New Age Procurement Solutions Superior to Traditional ERP
When it comes to managing your supply chain, you as an organization have access to a wide variety of software options.
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The Impact Of Digital Transformation On Procurement
Digital technologies have changed the traditional business models of every sector, from manufacturing to education.
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Why Should You Invest in Sourcing Management Software?
Sourcing management refers to the process of identifying, selecting and managing suppliers for a company's products or services.
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Maximizing Your Supplier Relationship Management (SRM)
Sure, here are some strategies for revamping supplier relationship management
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Cost Effective Strategies for Success
Indirect procurement spend refers to the procurement of goods and services that are not directly related to a company's core business, such as office supplies, travel expenses, and IT services.
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6 ways ChatGPT will Impact Procurement in 2023
In 2023, it's expected that OpenAI's ChatGPT, a sizable language model, will substantially impact buying practices.
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The Benefits Of Utilising A Dedicated Procurement Software For Streamlining Sourcing
E-procurement, or electronic procurement, is the use of digital technologies to automate and streamline the procurement process.
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The Impact Of Smart Vendor Management On Your Business
Vendor management refers to the process of managing relationships with vendors who provide goods and services to a company.
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