5 Challenges Faced by Sourcing Professionals and How to Solve Them

Posted: 07/27/2021 - 09:00
Five Challenges Faced by Sourcing Professionals and How to Solve Them

Sourcing professionals around the globe face increasing challenges and demands, and that was true even before the pandemic. Siloed systems have historically slowed down the supplier onboarding and source-to-contract process.

But flexible contract lifecycle management (CLM) solutions can enable new agility in the sourcing process, especially if they are extensible enough to bring sourcing professionals directly into the contract management process.

The Pandemic Imperative: Collaboration Between Payables and Procurement

Posted: 03/31/2021 - 00:00
Payables and Procurement collaboration.

The COVID-19 pandemic underscored the need for better collaboration between finance and procurement as organizations needed to act quickly to increase their focus on their cash position, cash flow and net working capital through a more collaborative finance-procurement relationship.

The relationship each side has with suppliers is synchronistic – procurement ensures the right goods and services at the right price with the right supplier, and finance ensures those same suppliers are paid on time, to confirm that hard-negotiated relationships are not jeopardized.

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