19 April 2018

4 ways to convince your company board to invest in procurement software

According to one of the consulting companies research 50% of CEOs have no idea what a procurement team really does. According to another survey 58% of CEOs think that procurement is uneffective and needs to be re-organized. How to change this attitude and debunk the myths? Procurement software and online auction platforms may be a perfect solution in that case! Not only do they support procurement teams work, but also they bring a huge value to the C-level employees.
4 April 2018

Should procurement be ready for GDPR? Yes!

Why should procurement executives also consider GDPR? GDPR applies to both controllers and processers of data and business needs to present compliance in terms of GDPR regulations. That why procurement teams need to be prepared as well. To make it at least a bit easier, we’ve prepared GDPR checklist for procurement teams!
7 March 2018

E-procurement in SME. Does it make sense?

Small and medium-sized enterprises, so the SMEs ( according to the European standards those are the ones hiring from 10 up to 250 employees, while the companies with less than 10 employees onboard are defined as micro companies) account for 99% of all firms in the European Union, contribute most of total employment and are an essential element of every developing economy. In the UK alone there are 97.000 SMEs formed each year! SMEs spend between 45% and 60% of sales revenue on procurement of raw materials and professional services. Small business owners are increasingly subscribing to cloud-based software services too.
20 February 2018

Why transparency is a key feature of successful procurement? Or maybe it isn’t?

A transparent procurement process ensures equal access to all the process elements for all its participants and suppliers (certainly, except the sensitive data). Procurement methods, procurement process rules (for example, acceptance workflow), legislation, evaluation criteria (such as attaching significance to the particular criteria), technical specification, supplier rights should be definitely transparent.
14 February 2018

What to integrate with procurement software? 5 hottest integrations!

There are 4 key features which matter in business: : fluency, flexibility, visibility and forecasting. Those features are most wanted by business leaders while selecting and implementing software supporting various teams’ work. Every system, whether for HR, Finance or Sales should: be so flexible to answer the needs of the companies which do not operate in a standard way provide data flow be transparent be able to analyze the data
7 February 2018

How to measure the effectiveness in procurement? Don’t be afraid of KPIs!

Nowadays almost every excellent and well-functioning organization bases its strategy on setting up and measuring KPIs (Key Performance Indicators). Surely, every company does it in a different way, but the goal is always the same: stay compliant with the company business strategy. And there is no reason to be afraid of KPIs as your work with reasonable KPIs will be just more effective and easier. It’s good to know that there are 5 conditions of good KPIs – SMART.
29 January 2018

Who’s a new procurement professional? Top 4 competencies and skills CPOs want most

A new is coming in the procurement area and all business leaders and CPOs know it pretty well. 87 is the magic number. Why? 87% of CPOs surveyed in The Deloitte Global CPO Survey 2017 agree that the talent is the single greatest factor in driving procurement performance.
17 January 2018

What’s wrong with the Kraljic matrix?

The first news on the Kraljic matrix appeared in 1983 and was published by Kraljic himself. It became amazingly popular almost immediately after it was announced and named a procurement breakthrough. Until today the Kraljic matrix is considered as the basic tool for cost categorization in companies. Unfortunately, the tool does not always work. Therefore, what’s wrong with the Kraljic matrix?
4 January 2018

The Procurement Anti-Trends for 2018, so the procurement practices to avoid

From the beginning of the new year most of the companies are searching for new trends in procurement. What will change and what will stay the same? Having read a bunch of the articles on the topic, we have decided to pick the trends which have a negative impact both on the processes, methodology as well as costs and supplier management.
14 December 2017

How to use online auctions? A couple of good practices from buyers for buyers

Reverse auction or Reverse Dutch auction? What do we need them for? A couple of good practices from buyers for buyers.