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5 Ways Automation Makes R+D Procurement Departments More Effective
In companies with a research and development (R&D) department, R&D often has very specific procurement needs. Getting R&D and procurement working together effectively can be a challenge, though. A breakdown in communication between the two departments can result in misunderstandings, […]
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Finding Ways to Improve Stakeholder Engagement in the Procure-to-Pay Process
17Procurement professionals work with a wide range of people throughout the company as well as suppliers outside the company. These internal and external stakeholders play a vital role in procurement. Engaging internal stakeholders and effectively managing external stakeholders can make […]
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Using Automation Software for Improved Procurement Spend Analysis
Procurement plays a vital role in company success through spend management. By leveraging procurement data and optimizing the procurement process, companies can improve cash flow, cut costs, and collect useful financial data. The process of collecting and analyzing the data […]
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Improve Supplier Relationships with Procurement KPI Tracking
Improve Supplier Relationships with Procurement KPI Tracking With the current state of the economy, tracking and analyzing spend is more important than ever before. To accurately assess the whole procure-to-pay cycle, your company needs to identify Key Performance Indicators. Tracking […]
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Slash Costs, Lower Risk: Procurement Automation in 2023
Every company needs procurement. Being able to reliably source needed supplies (everything from printer paper to essential parts) is vital to keeping a business running smoothly. In many companies, though, procurement is a process that’s challenging to manage efficiently. As […]
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Improve Procurement Visibility ASAP: 5 Must-Follow Steps
5 Steps to Improve Procurement Visibility (And Why You Need To Right Now) How is your company’s procurement visibility? If it’s like 69% of companies surveyed in a 2017 study, then you don’t have total visibility into your supply chain […]
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Finally Optimize Your Procurement Workflow Automation
Do you want to optimize your procurement process? The answer is obvious: yes! Every company can benefit from a more streamlined and efficient procurement process. This is especially true now that supply chains can be so unpredictable. Procurement is a […]
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To Receive or Not To Receive: Inventory Management and Three-Way Matching
Every company needs a way to handle procurement. Whether your company is a small business ordering printer paper and ink, a manufacturer relying on the purchase of materials and parts to do business, or a multi-national corporation handling everything from […]
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Streamline Procurement with An Innovative New Feature for Processing Purchase Order Acknowledgements
Here at Next Process, we’re always on the lookout to develop new features and make our products more useful to clients who are using our software. Part of this process involves listening to requests and suggestions from current clients, which […]
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Links Between Employee Retention and Business Process Automation
Losing a valued employee is a blow to any business. Nowhere is this truer than in departments like accounts payable and procurement. So many key business processes happen in these finance departments that it can take quite a while to […]
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7 Tips for Managing Inflation in the Procurement Department
Rising inflation is hitting businesses hard. In many cases, cutting back on purchasing isn’t an option. Manufacturing companies still require direct materials in order to manufacture products. Transportation companies still need packing supplies. Those in the healthcare industry still need […]
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Which eProcurement Solution Is Right For My Company?
The majority of CPOs believe having a digital procurement solution is a good idea. Even so, most haven’t implemented eProcurement in their company. If your company is in this situation, you might have put off implementing eProcurement because it seems […]
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