Spend Analysis

Procurement’s Calling is to Protect the Business in Times of Crisis

Posted: 06/19/2020 - 05:22
Author: Michael Roesch
Procurement crisis

The coronavirus outbreak is having a profound impact on every business’ supply chain. The U.S. manufacturing PMI indicated the worst contraction in production, new orders, and employment since the 2008 recession. Nearly 75% of companies report supply chain disruptions in March, a number most expect to rise further.

Source Wars: Episode I – The Rise Of Software

Posted: 01/07/2020 - 00:00
Author: Michael Otis
The Rise Of Procurement Software

Procurement is old. Just how old you ask? Well, a long time ago in a galaxy far, far away… it’s been around for millennia. As a natural function of trade and commerce, it developed organically during the earliest civilizations. Papyrus records indicate procurement can be traced as far back as the Egyptians (the first Jedi) in 3000 B.C.

Supplier Collaboration: Sharing Influence for Shared Success

Posted: 11/25/2019 - 01:33
Author: Julien Nadaud
Success is not about procurement getting the upper hand; in fact, it might be about giving it up! Such a statement could raise the eyebrows of people pursuing success. It’s true that all corporate functions want more influence — but the secret lies in how they go about pursuing and leveraging that influence. 
 

How Machine Learning and Natural Language Processing Help Create Structured Versus Unstructured Data

Posted: 10/16/2018 - 03:43
Author: Tim Johnson
Most procurement organizations lack the necessary data to make decisions about their services spend. The fundamental reason for the gap between the data they have and the data they need is that it is buried in documents. As a result, there is a desperate need for deeper visibility into services spend in most organizations. For too long, spend analytics have only provided details at the aggregate level and in many cases the data is not accurate. The marketplace consistently wants to better understand this part of the business to gain greater insight.
 
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