Latest articles for Spend Management

Most Used Purchasing and Procurement Management Terms
Purchasing and procurement management are essential parts of any enterprise. They serve as the basis for business operation. Whether you sell products or offer services ...
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Purchasing and Procurement Terms You Must Know
Let’s start with what purchasing and procurement are. Purchasing is the act that is concerned with the cost of the order, whereas Procurement is concerned ...
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The Pros and Cons of Global Sourcing
The Pros and Cons of Global Sourcing – Is This the Right Direction to Take?
Global sourcing has been increasingly popular as a procurement technique due to improved cargo transportation and improved international trade legislation. Until recently, international firms were ...
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Onboarding Partner
What You Need to Consider Before Choosing a Strategic Supplier
One of the most effective approaches for development and success in the supply chain is building and maintaining supplier relationships based on trust and transparency. Relationships ...
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Difference Between Procurement and Purchasing
The Difference Between Procurement and Purchasing
Purchasing and procurement are often confused, and the two expressions are sometimes used synonymously. However, these two are different in terms of their purposes, the ...
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Vendor Management System
Methods, Benefits, and the Role of a Vendor Management System
Managing customers and employees is critical to the success of any business. In both cases, your company can succeed or fail. However, when it comes ...
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Paperless Procurement
The Essential Benefits of Paperless Procurement
The use of digital technology has taken over the business management. Unlike former traditional practices, procurement teams rely more on the electronic exchange of information. ...
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Supply Chain vs. Value Chain
Know the Difference: Supply Chain vs. Value Chain
Everyone in business should learn the difference between a supply chain and a value chain. The concepts are related but here is the key difference, ...
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environmental audit concept illustration
Improving the Sustainability of Procurement Practices
Sustainability is one of the most critical players in driving the efforts to reverse climate change – the biggest threat to life in the 21st ...
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Reducing Supply Chain Costs
A Quick Guide to Reducing Supply Chain Costs
For a business to grow, it must do more than just raise its profits. Thus, it continues to advance and stands out from the crowd. ...
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Man and woman going through documents
What You Need to Know About Purchasing and Procurement
The act of occupying or obtaining something is known as procurement. And small businesses, there is often a means of exchange of goods. When one ...
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Purchase Order Approval Software
How Purchase Order Approval Software Can Help You Avoid PO Errors
Supply chain management is a complex task. It would help if you took many risks to ensure the smooth flow of supplies. Procurement teams often ...
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GeSpend Management Software
Getting Started with Spend Management Software – A Quick Guide to Best Practices
Many companies have found that spend management has been a game-changer in streamlining their operations. For example, it streamlines procurement procedures and improves product catalogs. ...
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Young man working at a warehouse with boxes
Best Tips to Improve Supplier Relationship Management
Companies heavily rely on the network of suppliers to efficiently meet customer demands and for procurement quality. In fact, an enterprise can’t drive a competitive ...
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Procurement savings
An In-Depth Guide to Procurement Savings and Procurement Software Use
Profit maximization is only one aspect of running a firm. A successful entrepreneur or businessman also pays close attention to the savings column. Both profits ...
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