How to Choose the Right Spend Management Software

Posted by Negotiatus on November 7, 2018 at 12:36 PM

When it comes to business practices that are pertinent to strategy and future growth, spend management often ranks as one of the topmost priorities for several entities.

Spend management helps businesses keep track of their active and past transactions, purchase orders and expenditures across specific departments - all of which is indispensable information for any organization.

Read More

Topics: spend management

Analyzing the Four Segments of Tail Spend Management

Posted by Negotiatus on October 25, 2018 at 4:57 PM

Regardless of which industry a business operates in, it needs to establish a few processes for its spend management. This does not only ensure savings in the short term but also has a direct impact on supplier relationship management (SRM) that has long-term effects on the business's efficacy, strategic spending and overall level of success in its respective sector.

Read More

Topics: tail spend, spend management

Indirect Spend Management Best Practices

Posted by Negotiatus on October 24, 2018 at 5:06 PM

Conventional wisdom has been that group purchasing organizations (GPOs) can benefit companies by streamlining indirect spend management and saving significant amounts of money. GPO advocates cite recent research that shows a majority of companies are still not using or considering GPOs, and assert that this is "leaving money on the table."

GPOs, however, are quickly becoming an outmoded concept. Developments in technology have introduced capable and easy-to-use indirect spend management software systems that can provide all the benefits of a GPO, but more efficiently and without taking away a company's flexibility in managing procurement.

 

Read More

Topics: spend management, indirect spend

The Top Ten Spend Management Tools

Posted by Negotiatus on October 17, 2018 at 4:51 PM

It is no secret that saving on costs is one of the top priorities for every business in the world, regardless of stature or industry. One of the ways businesses reduce costs is by investing in a spend management software solution.

Aside from cost savings, a great spend management software also rationalizes the price and ensures budget and management compliance. To help you get started on the path of implementing optimal purchase processes, here are the top 10 spend management tools that could help you grow your business effectively.

Read More

Topics: spend management

3 Things You Need to Know About Tail Spend Management

Posted by Negotiatus on October 12, 2018 at 5:02 PM

Every business knows how crucial spend management is to a business' success. That is why it is not a surprise to see businesses from all over the world placing significant effort to make sure that they are assimilating, analyzing and controlling their spend management processes in an optimal manner. However, even after treating spend management as a crucial aspect, many companies still overlook the subject of tail spend management.

Read More

Topics: spend management, tail spend