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Procurement Operations

Advantages of centralized procurement: cloud-based end-to-end e-procurement solutions

White Paper: BidSync

Public procurement is an essential county government business function. In many instances, County procurement activities npayments made to private businesses for the purchase of goods and service are the second largest expenditure of taxpayers’ dollars (employee wages, salaries and benefits are the largest cost) At this level of spending, efficiency of the procurement process is a crucial component of good financial stewardship. Unfortunately, the traditionally decentralized structures of county government often don’t take advantage of business efficiencies and best practices offered by a more centralized configuration. Due to such impediments as cost, business disruption and process advantages important to other departments, simply “centralizing” county government to improve procurement efficiencies isn’t a practical option. However, technology offers an approach that features many of the advantages of centralized procurement: cloud-based end-to-end e-procurement solutions. 

How to Reduce Risk with Contract Management

White Paper: Conga Novatus

In this fast-moving and highly competitive global marketplace, proper commercial contractual risk management is necessary for success. Ongoing successful company revenues, profits, and reputations can be wiped out quickly by ignoring or not discovering contractual risk threats. Conversely, if an entity is protected from contractual risks and threats, it can effectively concentrate and focus on its business without distraction. This Conract Management whitepaper describes where the weak points in the contract lifecycle appear, and where risk is most likely to be introduced into the process to establish bulletproof contract management procedures.  Key takeaways from this Contract Management White Paper: Automatic renewal of contracts An inability to access contract terms Important features for any contract management plan Minimizing Contractual risk with an effective CLM tool

Discover How Companies Increase Performance and Profits through Purchasing Automation

White Paper: Bellwether Software

Purchasing automation eliminates bottlenecks, increases buying power, reduces cycle time, improves inventory management & reduces rouge spending. If your purchasing cycle is automated, the company can expect an improved bottom line, positive impact on corporate spend and purchasing decisions. This whitepaper discusses about how and why to assess purchasing automation savings & solutions. It highlights: Purchasing process flow quickly reveals inefficiencies Boost profits by automating your purchasing functions Guidelines for evaluating software options The future of purchasing and supply Purchasing, a vital company function Within the purchasing function, business has a great opportunity to implement cost reduction in a major spend area and move into the 21st century. If you have not yet automated your purchasing function, now is really the time.

6 Critical Components of a Successful Purchase-to-Pay Initiative

White Paper: Basware

Growing a business in today’s constantly changing business environment requires CFOs to get more from the Purchase to Pay cycle that governs so much of the cash that moves through the business. Networked Purchase-to-Pay solutions combine cloud-based business networks with automated accounts payable, procurement and payments capabilities to make access to financial services much easier for buyers and sellers. This whitepaper details the six critical components which must be considered by the businesses for ensuring the success of a  Purchase to Pay initiative. Businesses should look for the following six critical components when evaluating P2P solutions: Accounts payable automation: Process improvement remains the top concern in accounts payable departments e-procurement: Facilitates the purchase of goods and services through approved sources using an online shopping cart. e-invoicing: e-invoicing accelerate invoice cycle times to avoid late payment. e-orders: Networked Purchase to Pay solutions facilitate the electronic exchange of purchase orders, confirmations, and changes to orders between buyers and sellers. Global electronic payment: Migrating to electronic payments is the top automation priority of controllers surveyed by IOFM. Dynamic discounting: Buyer-funded financing that helps suppliers improve control and visibility over their cash flow

Sourcing and Procurement: The 2016-2017 Technology and Innovation Outlook Report

White Paper: Basware

In this fast-moving and highly competitive global marketplace, how procurement and sourcing organizations communicate, collaborate and transact with their internal stakeholders and external trading partners and the enabling technologies and platforms that they utilize will take on increasing importance to overall business operations and bottom-line results. This whitepaper highlights the impact of today’s progressive solutions as well as those that are emerging across all relevant sourcing and procurement processes. Key takeaways from this whitepaper on sourcing and procurement: Procurement Playmakers: Agile and Innovative The State of Procurement Technology Primary sub-process areas that drive all sourcing activity Key Technology Trends: The Evolution Continues The Future of Procurement Analysis: Happening Now

The Value of Intelligent Capture in Accounts Payable Automation

White Paper: ABBYY

Intelligent Capture is catching the attention of organizations and causing a fundamental shift in the way businesses read and process paper and electronic documents. It eliminates the tiresome work of manual data entry and its associated errors, driving the return on investment in Accounts Payable automation. Intelligent capture software that includes document imaging, separation and classification of invoices, and data extraction and validation introduces integrity in the downstream AP processes. This informative whitepaper addresses questions like: How can you implement an intelligent capture solution successfully? What are the business systems that an intelligent capture system is typically integrated with? What are the key areas in which an intelligent capture technology can further enhance the Accounts Payable process? Download this white paper to learn why capture is important in your Accounts Payable automation initiative. 

Guide to automate procure-to-pay process

White Paper: BirchStreet Systems

What is Procure-to-Pay Automation? How do organizations manage business operations through procure-to-pay process? Procure-to-pay automation streamlines all purchasing, accounts payable and related activities electronically. Adopting procure-to-pay technology allows purchasing departments to efficiently spend, have accurate real time pricing with connections to every supplier, online catalogs and tracking. This cloud based procure-to-pay automation system creates efficiency, control, visibility and compliance all in one centralized location. Benefits of Procure-to-Pay: Procurement-to-pay enables businesses to connect with all suppliers online by accessing their catalogs, purchase orders, and viewing real time pricing and receiving. Manage and purchase for capital projects and expenditures. View and report on forecasting and budget impact. Instant budget forecast updates in the system. This whitepaper will guide in implementing procure-to-pay process in: Purchasing Departments in optimized purchasing and cutting costs. Finance Departments in assessing financial performance, operations and risk management. Information Technology Departments in ensuring customers data security. Download this whitepaper and learn more about how BirchStreet Systems has come up with the cloud-based procure-to-pay automation technology through SaaS-based operating and reporting tools to improve business processes by automating eProcurement, AP 3-Way Auto-Match, Inventory Control, Recipe Management System and Capital Budget Management.

3 Stages on a Successful Source to Pay Implementation Journey

White Paper: Xoomworks BI

What is a source to pay? Why do you need a source to pay process? Source to pay provides complete end- to-end outsourcing solution. Processing thousands of invoices, supplier data, purchasing requisitions and expense details is a burden. In order to overcome this challenge, an organization needs a procurement process to manage purchasing, sourcing events and improve business performance. Source to pay process spreads across all the departments in businesses and suppliers in a way that no other system does. Procurement process not only creates a better strategic sourcing approach that delivers greater savings and enhanced visibility, but also increases control and ongoing process. This white paper teaches you three stages involved in successfully implementing a procurement solution for source to pay. It focuses on six areas and opportunities that need focus during implementation of a source to pay solution: Choosing the right implementation partner Early and ongoing stakeholder engagement and  communication The mechanics of data and integration Implementing Saas on cloud storage Internal drive and motivation Adding  efficient content

Best Practices for Complex Sourcing Events

White Paper: Xoomworks BI

Running complex sourcing events takes time and effort, but if done right, the benefits make it worthwhile. But Sourcing solutions are rarely used to their full potential. Most of the sourcing systems come with advanced functionality that can be used to run many types of events, and as these systems get upgraded, further functionalities get added. Learn how to make the most of complex sourcing events through this whitepaper that addresses questions like: What constitutes a complex sourcing event? Why should you consider increasing the complexity of your events? What are the common pitfalls in running complex sourcing events and how to avoid them? What are the most commonly used methods to overcome complex sourcing events? How to run events effectively and efficiently using the functionality offered by mature sourcing solution? What are the reasons behind potentially challenging complex sourcing events ? How to use valuable information collected with event responses to improve future events?  It also includes ''Real Life Examples of Complex Sourcing Events''.  

How to Successfully Run eAuctions (Electronic Auctions)

White Paper: Xoomworks BI

What is an Electronic Auction and why should you care? How to successfully run eAuctions?  Electronic Auctions promote fair competition and transparency, driven by market dynamics. Electronic Auction is a really great way to select the best suppliers and an ideal way to collect market feedback. This white paper gives the basics of eAuctions, ethics of eAuctions and provides guidance in running eAuctions successfully to achieve greater value in business. So do you think eAuctions make a difference? eAuctions can make 5% difference on final price you pay each time for goods and  services. Company that runs eAuctions more gains more market value than the one which runs none. What are the different types of Electronic auctions and when should you use them? For all types of electronic auctions communication is the key. Each auction type differs on variations and parameters. Classic Reverse Auction used for larger number of supplier bidding. English Reverse Auction used when each bid is lower than the current bid. Dutch Auction type works well when there are less suppliers. Japanese Auction type is the reverse of Dutch Auction. Download this white paper to learn about how to successfully run eAuctions, And refer to the five golden rules for eAuctions success and addresses both the mechanics and behaviours of Procurement that drive the greatest value for organizations.

Manage the Complexities of Multicurrency Transactions

White Paper: Xignite

Now a days the biggest challenge faced by all the MNC  is how to constantly adjust  the regional currency rates ,manage accounting, inventory and procurement  for multi-currency transaction. This descriptive whitepaper mainly focus on the following areas of challenges for facing the multicurrency transaction problems: Global multi-currency transaction operations ERP multi-currency integration Multi-currency transaction management solutions The key features of this whitepaper include:  • Real-time and historical exchange rate quotes—bid, ask, mid and spread • Intra-day, end of day and historical open, high, low and close rates. • Currency converter utility included • Calculated cross rates USD/ EUR, USD/JPY, USD/GBP, USD/AUD, USD/CHF and USD/CAN

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