Procurement Basics
2 min read
4 Tips for Optimizing Accounts Payable and Receivable
Accounts payable (AP) and accounts receivable (AR) are two of the most important—and often most overlooked—aspects of any business.
2 min read
All You Need to Know About Purchase Orders
A purchase order is a formal contract between a buyer and a seller. It's used to record the details of what's being bought, how much it costs, and when delivery is expected.
4 min read
Strategic Spend Management: 5 Steps to Automate Your Processes
Learn 5 steps to automate your spend management and maintain superior control.
1 min read
How to Reduce Paper Consumption in Procurement
In many organizations, procurement is one of the most paper-intensive departments. From printing out supplier catalogs and price lists to filling out and filing purchase orders, it's no wonder that the average procurement department goes through a staggering amount of paper each year.
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The Evolution of Procurement: Where We've Been and Where We're Going
The role of procurement has changed dramatically over the last several decades. In the past, procurement was primarily focused on cost savings.
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Gantt Charts for Procurement Projects
A Gantt chart is a powerful tool that can be used to plan, schedule, and track procurement projects. This type of chart provides a visual representation of the project timeline and can be used to identify potential risks and issues.
3 min read
Transparency is the Key Feature of Successful Procurement
Procurement process should be carried out in a fair and transparent manner. The most important and broadly accepted principle underlying a modern procurement system is open competition – free access to the procurement market. Moreover, it should be open to public examination and review, thus making it a transparent process. What
3 min read
Why Using Purchase Order is Important?
Gather the leaders, the heads of departments, managers and ask them which document in the company plays one of the most significant roles. There will be many different answers, but most must agree that one document is crucial for all business functions and its contribution is often underestimated – now we
