How to Make a Case for Procurement Automation

How to Make a Case for Procurement Automation

An organization must first transition its procurement process from manual into automated to capitalize on IA and Business Learning. Making a case for procurement automation, here is how you can determine potential savings and find a clear way to communicate the benefits of P2P automation to decision-makers.

5 Ways to Add 5-Star Procurement Value in Hospitality

5 Ways to Add 5-Star Procurement Value in Hospitality

In hospitality, procurement occupies a place of unique importance especially for traditional hotels caught in fierce competition with boutique-style accommodations provided by Airbnb and VRBO. Here are 5 ways to add value via procurement.

5 Procurement Trends to Watch in 2019

5 Procurement Trends to Watch in 2019

Predictions about the state of procurement in 2019. 5 trends to know and leverage that improve your procurement cycle and help you gain a competitive advantage.

High-Powered Procurement

High-Powered Procurement

A closer look at the top 5 procurement goals identified in recent surveys, along with some steps utility companies can take to reach those goals more quickly.

The Procurement and Expense Game Plan for Professional Sports

The Procurement and Expense Game Plan for Professional Sports

Professional sports teams have many expenses, and effectively and efficiently managing those expenses can make the difference between winning and losing off the field. We’ve identified five of the procurement challenges professional sports teams and franchises face, and how our procurement and spend management solution can help even the score.

Top 5 Ways to Reduce Unmanaged Spend

Top 5 Ways to Reduce Unmanaged Spend

As a procurement professional, you can deliver more significant value and maximize savings for your organization by targeting unmanaged spend. Here are 5 ways to achieve results.

How much can you save by automating the procurement process?

How much can you save by automating the procurement process?

How much time and money is your procurement process costing? This online free calculator helps you determine your cost and cost savings from automation. Read our CEO’s short blog to gain deeper insight into automation and how much you can achieve.

P2P A to Z Glossary of Terminology in Procure-to-Pay Life Cycle

P2P A to Z Glossary of Terminology in Procure-to-Pay Life Cycle

Want to improve your bottom line? On our blog, you will learn how to control spend before it happens and automate your procurement and payables processes. Here, we have compiled a glossary of standard terminology used in the procure-to-pay cycle with links to efficiency boosting information.

5 Ways to Save in the Procurement Process

5 Ways to Save in the Procurement Process

How to avoid the pitfalls most organizations run into and learn the best ways to cut costs within your procurement process. Learn how to drive down procurement costs, improve supplier terms, take advantage of discounts and alternative pricing, and improve efficiency.

Should we pay that invoice now?

Should we pay that invoice now?

Automating accounts payable invoice processing cycle as part of a larger eProcurement initiative delivers advantages in time and cost savings, and keeps the process accurate, consistent, and compliant with the best procurement and business practices.

The Lofty Importance of the Humble Purchase Order

The Lofty Importance of the Humble Purchase Order

Purchase orders can be used to make your company’s procurement process much more manageable. Prevent duplicate orders, increase control of spending, improve invoice matching, inventory management and learn the many other benefits of POs. Drive efficiency in your procurement and requisition with the purchase order process.

Putting the Strategic in Strategic Sourcing

Putting the Strategic in Strategic Sourcing

Ready to learn how practical methods to enhance procurement practices for sourcing, pricing, and terms? We discuss industry best practices such as identifying multiple suppliers, considering master contracts, nurturing supplier relationships, developing preferred supplier/product lists, centralizing purchasing, and incorporating technology.

Your 1st Risk in the Procurement Cycle

Your 1st Risk in the Procurement Cycle

Most companies lose between 20% to 30% of revenue each year in the 1st stage of the procurement cycle. Find out where this underestimated risk is and how to reduce this loss.

Procurement Risks and Action Items

Procurement Risks and Action Items

Your go-to reference point to procurement risks and action items. Refine your strategy and create a smart, progressive procurement plan that takes you beyond saving money and into strategic and sustainable growth.

What’s in the cards for 2018?

What’s in the cards for 2018?

Reflecting on 2017 and determining 2018 goals is only natural. What will make it to your top 3? Going to the gym more, eating healthy, spending wisely, improving the bottom line on both personal and business fronts?

Procurement in Hospitality

Procurement in Hospitality

In hospitality operations, procurement departments are playing an increasingly important role in controlling costs better. Implementing an eProcurement solution is proven to help companies lower costs and improve supply chain operations. Here are four specific ways eProcurement can help hospitality companies reach their cost-saving goals.

Artificial Intelligence in Procurement

Artificial Intelligence in Procurement

There is no area of business operations exempt from discussions of the potential benefits of technologies like Artificial Intelligence (AI). Here you can see what kinds of changes you can expect AI to bring to procurement practices over the next few years, and how you can set your company up to capitalize on those changes.

3 Reasons to Include Procurement in Your Inventory Management Strategy

3 Reasons to Include Procurement in Your Inventory Management Strategy

Today’s Procurement professional are gaining more than just controlling spend, boosting buying power, driving efficiencies, and increasing visibility from their procurement solution. They are improving inventory and material management from within the procurement solution. Here is how.

Making a Case for Automation

Making a Case for Automation

Procure-to-Pay professionals must find clear, compelling ways to communicate the potential savings and benefits of P2P automation to their organization’s decision-makers when making a case for automation. One persuasive argument lies in the savings organizations can achieve using a robust procurement solution. Any system that takes the burden away from all the touch points should be able to give you at least 50 to 60 to maybe 70 percent savings on the cost to process a requisition or a purchase order. Procurement professionals should first assess their organization’s current procurement state and expenses, then demonstrate the savings that can be delivered by P2P automation. To this end, Paramount WorkPlace and PayStream Advisors have collaborated to develop the Procure-to-Pay Calculator.

Spend Management Meets AP Automation

Spend Management Meets AP Automation

Accounts payable (AP) automation is the most requested new functionality. AP automation is big news in the ERP world, where we’ve historically seen more technology investments occurring on the revenue-generating side of operations. What is AP automation – and is it all it’s cracked to be?

Investing in Back Office Efficiencies

Investing in Back Office Efficiencies

3 ways to build value in the organization by eliminating waste, reducing costs and improving administrative efficiency. Digital technologies bring tremendous efficiency to the back office, non-revenue generating activities, helping companies remain lean, green and prosperous.

Top 5 Procurement Challenges in 2017 and How To Solve Them

Top 5 Procurement Challenges in 2017 and How To Solve Them

While every company faces its own unique procurement challenges, there are a few common refrains we hear as we work with organizations to improve their procurement management procedures. We’ve outlined the top five here, followed by an effective resolution to these (and other) procurement challenges.

Requisitions Go Mobile

Requisitions Go Mobile

Five common procurement challenges businesses face – and how the right procurement solution can solve those challenges, reducing complexity and increasing accuracy and efficiency.

MENU