Global

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

Posted: 06/19/2020 - 05:22
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.

How Quantum Computers Will Change Our World

Posted: 06/12/2020 - 22:14
Quantum Computers

There’s something that has been revolutionizing our world without us even noticing it. A technological device that promises to create a new way to encrypt information and process data. This technology is called quantum computing. This isn’t something easy to understand at first, but once we know the science behind it, we’ll be able to see the benefits this could bring to our society. 

Securing Remote Workforces, Payments and Customer Data in a Rapidly Evolving World

Posted: 06/12/2020 - 00:01
Securing Remote Workforces for compliance

While the rapid shift to a remote workforce model in the wake of the COVID-19 pandemic has driven many changes for businesses around the world, a few constants have grown in importance. To maintain operations as seamlessly as possible, organizations must secure their payment systems, technology access, and sensitive customer data no matter where it resides, and that is particularly true when it is being accessed or processed by employees from their homes.

3 Things Small Businesses Can Do to Lower Insurance Costs

Posted: 06/11/2020 - 03:24
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
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
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
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
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
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
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.

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