Procurement Basics
Indirect vs. Direct Goods and Services: What's the Difference?
Indirect goods and services are those that are not essential to the core product or service of a company. They are often used in the production or delivery of a company's primary offering, but they are not themselves the primary offering.
What is High-Level Procure to Pay?
Procure to pay, also known as P2P, is the process of acquiring goods or services and then making payments for those goods or services. The procure to pay process usually consists of four main stages: requisition, purchase order, receipt, and invoice.
How the "Procurement Cult" is Killing Innovation
In today's business environment, the pressure to cut costs is greater than ever. As a result, many organizations have turned to procurement to save the day.
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.
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.
Strategic Spend Management: 5 Steps to Automate Your Processes
Learn 5 steps to automate your spend management and maintain superior control.
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.
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.
