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The following steps can be considered to plan and execute a successful E-auction event. 1. Analyzing the marketplace Depending on the type of Services and Items the buyer wishes to buy or the seller wants to sell via auctions- the individual should have an understanding of the demand in the market and the kind of […]

Invoicing Solutions – How They Can Benefit Your Business

Invoicing is perhaps the most important business activity as this is the penultimate step for a Business organization to realize its payment for all the hard work done. This is the document on the basis of which revenues are recognized in the books and payables or receivables are booked. Therefore it is very important to […]

Step By Step Guide To Implement a Procurement Savings Program

For time immemorial, Savings has been THE KPI against which the performance of a procurement organization has been judged. As businesses and industry sectors became more competitive, the role of Procurement evolved from a “PO Creator” to an active contributor to the bottom line of a company. Today, as the world moves to a more […]

Top 6 Risks in the Procurement Function

It is a fact that risks exist everywhere and in every business decision, it is more so. While procuring goods and services Organizations must consider the risks attached at every stage. Managing risks from the very start of the process is important. Disruption of operations, poor quality, the safety of employees and neighborhood, the reputation […]

6 Major Drawbacks of Manual Procurement Process

As the business environment becomes increasingly complicated and compliance requirements get stronger, it is important that businesses seriously think of stopping manual business processes to minimize risks. Procurement functions in any organization are big spenders of money. Nearly 60%, in some cases even more of the companies revenues are spent in acquiring goods and services […]

What is E-Procurement and Why is it Important to Your Business?

The manner we buy has appreciably changed in today’s technological driven day and age. In today’s world, before making any B2B purchases research is carried out on approximately 12 online websites. Paperwork has actually become a very traditional method that is not used and corporations turn to technology to help fulfil purchase requests. The intention […]

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