Global

3 Things Small Businesses Can Do to Lower Insurance Costs

Posted: 06/11/2020 - 03:24
Author: Dennis Dix
Insurance for small businesses

Managing cash flow is at the top of people’s minds right now, and yes, there is an opportunity to lower your insurance expenses immediately. Here are three things you can do right now to make sure you don’t spend a penny more than you need to on insurance. Contact your insurance provider today, and ask them to do these things:

1. Switch to a “Pay-as-you-go” Billing Method

In my opinion, pay-as-you-go, or PayGo, is the best billing method for small business workers’ compensation policies and there are many benefits of switching to PayGo.

How to Manage the Hardest Part of a New Tech Project – The People

Posted: 06/10/2020 - 23:23
Author: Tania Seary
technology implementation

The business case is signed off and the technical back-end work is complete. Now all that’s left is to implement your shiny new procurement system.

How hard could it be? Quite hard, actually. In fact, if the take-up of your new system doesn’t go well, the whole project could fail.

But don’t worry. That won’t happen to you with these top tips to guide you through the change management process.

Deliver Savings and Technology Transformation in a Recession

Posted: 06/10/2020 - 05:22
Author: Martin Stark
Procurement technology transformation

The primary goal of a procurement function to achieve savings carries greater significance in a recession when obtaining the lowest cost possible needs to be balanced with not compromising the quality of products and services delivered by suppliers. A secondary goal could be supporting major technology transformation projects. These goals are made more difficult when economic disaster strikes.

Bring on the bots: Artificial intelligence to the rescue in the fight against COVID-19

Posted: 06/05/2020 - 05:24
Author: Beerud Sheth
artificial intelligence, data science and machine learning

Since the onset of COVID-19, artificial intelligence, data science and machine learning have gone from time-saving to life-saving technologies. The fact is, they have rapidly emerged as powerful weapons in the fight against the pandemic. 

From accelerating testing capabilities to enforcing social distancing measures, these bots – formerly unsung heroes of AI – have suddenly taken on a significant role in altering the way we face pandemics. 

Here are some of the ways bots continue to play an essential role in the fight against COVID-19:

Applications of Artificial Intelligence in Procurement

Posted: 06/04/2020 - 04:52
Author: Steven Sargent
Artificial Intelligence in procurement

Today, about 80% of large organizations are using artificial intelligence in their core business – compared to about 10% just five years ago. Companies that focus on AI are harnessing opportunities from vast data availability, machine learning and complementary technologies such as cloud, Internet of Things (IoT) and 3-D printing. And they are doing so with a focus on short-term benefits as well as long-term growth. According to Harvard Business Review, if you miss out, the opportunity cost could be as much as 41% of revenue by 2023.

Online Collaboration is Needed Now More Than Ever

Posted: 06/02/2020 - 00:54
Author: Sophie Pope
technology, automation and data acheives business continuity

We know that procurement is often a juggling act! We use decent supplier relationships, purchasing power, and any other tools in our belt to secure best payment terms, highest quality purchases at the lowest price, or indeed best value, to ensure vital continuity of supply against a backdrop of supply chains becoming ever more complex and volatile!

Strategies to Drive Procurement Compliance and Manage Rogue Spend

Posted: 06/01/2020 - 21:54
Author: Dan Anzevino
Procurement Compliance and Spend Management

Compliance is a critical purchasing success factor. Aside from the tremendous amount of financial impact, compliance has other positive outcomes. When employees comply with purchasing through designated supplier programs, it significantly streamlines the supply chain, allowing your organization to be agile and flexible.

Why “Paper Compliance” is Not Good Enough in a Post-COVID-19 World

Posted: 05/27/2020 - 21:11
Author: Mark Scullion
risk and compliance post-covid-19

An unlikely health and safety pandemic has thrown the world into a tailspin. Regulatory changes related to COVID-19 are already touching all facets of the industry. They are likely to continue to evolve at a brisk pace, making it difficult for some employers to keep up. Although it would have been impossible for any company to be fully prepared for such low probability, the companies that put health and safety at the forefront of their efforts have found themselves in a much better position to respond.

Fix Our Broken Medical Supply Chains

Posted: 05/27/2020 - 04:48
Author: Pinar Keskinocak
covid-19 medical supply chain

The entire world is watching aghast as our nation continues to struggle with its COVID-19 response, where our broken supply chain cannot supply medical workers with enough masks and face shields to keep them reasonably healthy. The pandemic has exposed inadequacies and vulnerabilities in supply chains that were supposed to provide the much-needed supplies in the healthcare system. But life-threatening shortages are reported daily. COVID-19 testing kits and nasal swabs, lab processing chemicals, hand sanitizer and ventilators are in desperately short supply.

Value Beyond Savings: 4 Ways Procurement Can Make An Impact

Posted: 05/22/2020 - 21:05
Author: Omer Abdullah
Procurement value

One of the most significant procurement trends we’ve seen so far in 2020 is delivering value beyond savings. So what exactly does this mean in the context of the function’s traditional goals?

Savings, as we all know, have long formed the foundation of procurement’s ROI to the organization. It’s been our primary charter over the years and is quite literally how the function has “paid its bills.”

Managing Risks in a GBS Environment post-COVID-19

Posted: 05/21/2020 - 00:29
Author: Cindy Gallagher
GBS Environment post COVID-19

Risk optimization and mitigation are essential within any Global Business Services (GBS) environment to proactively protect the enterprise from potential threats and enable confident business decisions. COVID-19 has uncovered previously unknown vulnerabilities, which left business leaders and board members scrambling for solutions to plot a course to stabilization.

Global Sourcing: Myth Versus Reality

Posted: 05/20/2020 - 23:01
Author: Tim Baker
Global Sourcing

Global sourcing offers numerous benefits. Unfortunately, due to misinformation, many companies overlook global sourcing as a solution and miss out on potential productivity benefits. In this article and the complimentary infographic, we will explore and debunk some of the most persistent myths about global sourcing.

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