Blogs

Block Chain technology

Blockchain has built significant inroads in procurement industry today. The new technology acts as a bridge between machines and humans and build trust between partners by creating smart contracts, improving purchase order cycle, providing supply chain visibility

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WHY SHOULD YOU CHOOSE E-PROCUREMENT SYSTEM OVER A TRADITIONAL ERP TO TRANSFORM PURCHASING EXPERIENCE?

The quintessential motive of both ERP and E-Procurement is to increase the productivity and efficiency of the business activities, primarily the purchase order systems.

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AI Procurement Automation

Today, procurement organizations are looking for new ways that can streamline procure-to-pay operations. AI is one trend set to transform the procurement operations through its intelligent automation.

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CAN WE CREATE SAVINGS WHILE BUYING?

Do we actually have a problem in buying? Aren't we smart, intelligent? At least I had few takeaways while buying:

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NOT JUST THE PRICE, TIME MATTERS TOO !!

When I asked last time, are you sure that the prices at which you are buying are the best? Did you just think about the final value you are paying or did u also think of the amount of time u spend on finalizing that price? Many don't.

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HOW ENGAGED IS YOUR PROCUREMENT TEAM?

In the last one and half year in my interactions with multiple organizations, I have understood that the more engaged the procurement team is with the stakeholders, the more efficient the bottom-line of the company is.

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PURCHASE PROCESS AUTOMATION... WILL IT MAKE ANY DIFFERENCE??

I, as an Inside Sales, lead for PRM360. My job basically involves interaction with the Purchase heads. In my last one year, I have interacted with more than 300 Purchase heads to understand their current

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Dig Deeper to know about Data Analytics

Be it spend data, supplier data or contract data, PRM360 enable procurement departments to unlock the real value of massive amounts of structured and unstructured data without undergoing any laborious processes.

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Read more about AI in procurement

Today, artificial intelligence (AI) is creating waves in the procurement industry by automating the full spectrum of procure-to-pay operations - from spend analysis to invoice management.

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Read about IOT

IoT has become the buzzword in procurement industry. IoT empowers businesses to gain visibility into spend analysis and identifies buyers behavioral pattern. The supply chain data is monitored continuously and analyzed for behavioral patterns to make informed decisions.

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Know more about ROI

Measuring the performance of your procurement process might seem overwhelming, but, examining procurement budgets, increased revenue or decreased costs is crucial to determine ROI. There are various KPIs in procurement - cost savings, cycle time, spend, and compliance.

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