Author Archives:Beroe

A procurement organization’s spend data usually resides in various databases and spreadsheets, often making it difficult to collate them into one coherent form for reporting purposes. However, procurement organizations can reap enormous benefits by bringing in much needed visibility into spend patterns. The importance of spend analytics has not gone unnoticed: 38% of procurement leaders had rated spend analysis as the most critical area to receive investment, according to Deloitte's 2016 Global CPO Survey.

We all have purchased something from online shopping portals. Can the same experience be replicated across procurement categories? Especially, when it comes to indirect services categories, which are hard to structure or commoditize? Organizations are constantly discovering ways to make the procurement process simpler, efficient and effective. There is a potential to bring a lot of contracts under managed spend instead of spot buying. Procurement managers usually spend a lot of time either negotiating for a better price or requesting services from suppliers. Catalog buying is being viewed as a solution to these procurement issues.