It is necessary to distinguish factoring from invoice discounting. Whereas factoring involves an outright sale of invoices, invoice discounting is essentially a loan against accepted invoices and would actually be treated as a loan with recourse to the seller....
Read More
PO Flip is the new Must-Have procurement portal feature. Just like any other process automation solution, eProcurement has introduced some new terms to offer a more understandable explanation and description for new functions within the process....
Read More
Vendor Master Management strategies are what makes it possible for you to create a strong and mutually beneficial relationship with your service providers and suppliers. That’s why it’s completely wrong and unjust to say that vendor management is nothing more than a couple of negotiations aiming to win the lowest price possible for your business. Vendor master management offers so much more if you press...
Read More
Supplier evaluation checklist strategies vary from company to company. In most cases, they can be a proactive way to expand your organization’s ability to reduce supply chain risk as well as attract and maintain the right suppliers. Establishing a company-wide methodology to help evaluate suppliers is easier than you think and will contribute to making sure that you avoid mistakes....
Read More
Vendor Portal Systems are fast becoming a high priority within large enterprises. In 2014, Deloitte put out their Global CPO Survey annual survey where they claimed that 65%procurement leaders endeavored to invest in a Vendor Portal system rather than upgrade their ERP....
Read More
The Great Procurement Talent Gap is a concept that I have spoken about with many colleagues in the past 12 months. Recently I came across a guest blog post on Spend Matters called Procurement’s Growing Divide: Talent Inequality...
Read More
Purchase Order financing is gaining popularity as an innovative tool that allows companies to get cash advances from financiers against certain Purchase Orders. This allows the company which might be short on cash to borrow the funds required to purchase supplies required to manufacture goods rather than use their cash. Purchase Order financing differs from factoring or invoice financing in the sense that it provides...
Read More
Managing International money transfers can prove to be challenging for some companies doing it for the first time. There are regulations, cost considerations, credit risk, etc. to consider while also ensuring that a trust-based relationship may eventually be established with the trading partner....
Read More
Vendor Portal Benefits take many forms. Many people do not realize just how integrated a configurable a vendor portal will end up until they bring their team together and start to collect requirements. Also known as a Supplier Portal, they are web-based and genuine vendor management solutions that provide multiple benefits with an excellent opportunity to work and communicate with your vendors in a safe, secure,...
Read More
Supplier Management Tips - How to achieve and maintain a business relationship with your suppliers and vendors, which is both successful and efficient? Here are some useful tips to help you with:...
Read More