Defining and demonstrating ‘value’ is a constant challenge for procurement professionals. Whether you’re making a case for more staff or demonstrating the need for a more efficient digital solution, helping senior stakeholders understand the potential benefits of a procurement investment often feels much more difficult than it should. This is never more apparent than when […]
Read moreA Comprehensive Guide to Contract Lifecycle Management Get started with Portt What is contract lifecycle management and why is it important? Contract lifecycle management (CLM) is the end-to-end process of overseeing supplier contracts to ensure a business gets what it has been promised under the terms that have been set. In growing organisations that maintain […]
Read moreA Comprehensive Guide to Supplier Lifecycle Management As modern organisations become more complex, so do their supplier networks. Nowadays it’s not uncommon for even medium-sized businesses to oversee thousands of individual vendors situated all over the globe. Managing these suppliers to ensure the compliant, timely delivery of goods and services across their lifecycle is a […]
Read moreDefining and demonstrating ‘value’ is a constant challenge for procurement professionals. Whether you’re making a case for more staff or a digital solution, helping senior stakeholders understand the potential benefits of a procurement investment often feels much harder than it should. This article outlines 8 ways to confidently communicate the value of a digital procurement […]
Read moreEvery public contract awarded to an indigenous supplier brings social benefits that extend far beyond simple goods and services. Jobs are created, communities are strengthened, and indigenous businesses get the opportunity to grow in size and capability. It’s this insight that has led to the New Zealand government’s progressive procurement target, which requires all public […]
Read moreGood procurement was once a case of simply sourcing the right goods and services at the lowest possible cost. These days, however, businesses are realising that choosing the right suppliers can have positive impacts beyond operational cost-cutting. This is the thinking that informs sustainable procurement, defined in ISO20400 (Sustainable Procurement Guidance) as “procurement that has […]
Read moreRisk management is key to contract lifecycle management (CLM) success, but its complex negotiations and administration processes mean the constant danger of costly mistakes. However, an effective and flexible risk management plan can eliminate mistakes and forgetfulness, meaning you can make more strategic decisions by avoiding your contracts just rolling over automatically. Let’s take a […]
Read moreIn 2021 and beyond, digital procurement systems are giving procurement teams the power to play a larger strategic role in accelerating business innovation and maturity. Through artificial intelligence and robotic process automation, digital procurement frees up employees’ time so they can focus on long-term initiatives and strategic activities. It can also take organisations to new […]
Read moreProcurement departments are used to scrutiny when it comes to securing value for money but, these days, social procurement initiatives mean their dollar is expected to make a positive community impact beyond simply purchasing goods and services. This is particularly relevant in New Zealand, where the federal government has set the target of devoting 5% […]
Read moreIf you work in procurement, you’ve likely heard the saying that effective procurement management is about ‘procuring the right item at the right time from the right vendor at the right price’. In order to make these complex decisions simpler for staff, automation is taking organisations from tedious manual operations into the world of highly […]
Read more