Procurement Basics
14 min read
What Is Spend Management and Why Is It Important?
To earn money, a business needs to spend money first. Raw materials, maintenance services, and qualified employees are just a few on the long list of typical company expenditures.
6 min read
The Ins and Outs of PunchOut Catalogs: How Do They Work and Why Use Them?
Learn everything about PunchOut catalogs: Definition, benefits, how they differ from hosted catalogs, and whether there is a better alternative.
12 min read
Accounts Payable and Receivable – Two Sides of One Coin
Every business starts with spending and ends with earning. But is it always about the actual cash? Accounts payable and accounts receivable become part of the cash flow before any actual money reaches bank accounts. Let's see how.
9 min read
Best Practices for ERP Implementation: 8 Tips for a Successful Rollout
Discover the most important steps of ERP implementation, how to select a project team, prepare for data migration, evaluate project success, pitfalls to avoid, and more.
11 min read
Why Implementing 3-Way Matching is Important
58% of AFP Payments Fraud and Control Survey respondents report that email scams have at some point targeted their accounts payable departments. What can businesses do to protect themselves from paying money for fraudulent invoices? They can introduce three-way matching to the purchasing flow.
8 min read
Direct vs. Indirect Procurement: Key Differences Explained
Learn key differences between direct and indirect spend, how their strategies differ, and procurement best practices.
9 min read
Everything You Need to Know About the Early Payment Discount
For every $1 billion spent on POs, there are about 3 million dollars in early payment discounts left unclaimed. Read on to discover how to qualify for and negotiate a discount.
9 min read
Why a Procurement Management Tool is a Must for Efficient Purchasing
Procurement managers aim to deliver results while optimizing expenses.
