Procurement Basics

What Is Spend Management and Why Is It Important?

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.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
The Ins and Outs of PunchOut Catalogs: How Do They Work and Why Use Them?

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.

Tetiana Katrych
Tetiana Katrych
Procurement Basics
Accounts Payable and Receivable – Two Sides of One Coin

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.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
Best Practices for ERP Implementation: 8 Tips for a Successful Rollout

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.

Tetiana Katrych
Tetiana Katrych
Procurement Basics
Why Implementing 3-Way Matching is Important

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.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
Direct vs. Indirect Procurement: Key Differences Explained

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.

Tetiana Katrych
Tetiana Katrych
Procurement Basics
Everything You Need to Know About the Early Payment Discount

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.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
Why a Procurement Management Tool is a Must for Efficient Purchasing

9 min read

Why a Procurement Management Tool is a Must for Efficient Purchasing

Procurement managers aim to deliver results while optimizing expenses.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics