Best of 2018 Blogs: Digital Change in Procurement
Tuesday, 6 Nov 2018
Senior Global Business Advisor
Reflecting on 2018? So are we – check out this re-cap of our favorite blogs from this year.
With 2018 winding down, organizations are full-speed ahead, planning 2019 strategies and setting future goals. Here are the top 5 Basware procurement blogs from 2018 to help you step into the new year with your best foot forward.
New Year, New Talent
Corporate cost-savings and spend compliance are not exactly characteristics of a flashy occupation—and this may be part of the reason why procurement positions aren’t being filled more readily by the up-and-coming millennial and gen-Z workforces. But, there are ways your organization can ensure it’s flaunting the most appealing parts of a career in procurement:
- Make sure you have a digital culture available.
- Give your employee a path and support them with continued training.
- Focus your organization’s procurement positions on data and analytics.
- Play up the strategic side and the value-adding elements of procurement professionals.
Chances are, you’ll be expanding your team in 2019, so learn what else your organization can do to ensure you’re attracting top talent in the best way.
Sweet, Sweet Savings
Year after year, savings are a top priority for procurement professionals and organizations in general. And that’s not bound to change anytime soon. As you plan your 2019 strategy for continued savings, make sure you’re focusing on one very important thing: spend visibility. The best way to get 100% spend visibility is through spend and supplier data—and we’ve got five recommended pieces of data to pay extra attention to:
- Controlled versus uncontrolled spending
- Percentage of spend by supplier
- Spending by department
- On-contract versus off-contract spend
- Supplier invoice details
Find out what else you should be analyzing to increase spend under management and reduce costs in the new year.
Kick-off Supplier Collaboration
Maybe it’s your business resolution every year— “I’ll have a better collaboration with my suppliers this year.” Supplier relationships are a key element to the success of an organization. In theory, these relationships should be a joint effort between both parties. And though all organizations want to improve their relationships with their suppliers, many find it an uphill battle. Using analytics to further leverage your process and getting supply chain visibility can drastically improve collaboration. And that’s not all.
We’ve got other great, proven tips to make your supplier relationships even easier. Read more to find out what else you can do to improve collaboration and keep your business resolution in 2019.
Machine Learning, AI, and RPA – Oh My!
Smart devices, machine learning, robotics, and artificial intelligence (AI) are ingrained in our lives, both in our professional and personal lives. Each year, these technologies develop further, and we find new ways to integrate them into the purchase-to-pay process. Intelligent technologies like this can vastly increase efficiency and free up time for employees so they can better allocate their efforts to value-adding activities.
Our chatbot is a great example of how integrating machine learning and AI can save you time and speed up your processes.
Procurement + Technology = Perfection
An important role of a procurement professional is making the work as easy as possible for end-users. It’s not enough to just have a user-friendly interface anymore, either. In a world where apps and websites are becoming more intuitive and second-nature, procurement must make sure it’s keeping up with the trends. And what’s one of the best ways to stay up-to-date in 2019? Get 100% user adoption.
But that’s not the only way procurement groups can make sure they’re maximizing their digital abilities and simplifying the process for the end-user. Using advanced technology has changed the way procurement operates and will continue to make waves in 2019.
Want to Learn More?
If you’re approaching 2019 with big goals in mind for your organization, why not see how adopting e-procurement could drastically change your spend behavior and save you money. And feel free to contact us—we’re here to help!