Spend Analysis – The Complete Guide [Template Included]

What is Spend Analysis? Spend analysis is the process of collecting spend data from all purchasing sources and systems, cleansing the data, categorizing the data, and analyzing it for the purpose of understanding spending trends and identifying saving opportunities. The data included in the spend analysis might include purchasing data, payment data, credit card data […]

Building a Procurement Team [A Complete Guide]

Are you tasked with building the procurement team at your organization and wondering where to start? Whether you an experienced procurement professional or just been handed over this function, this guide would serve as a step-by-step process on how to build a procurement team from scratch. In this guide, we will cover 1. Procurement team […]

Procure to Pay process optimization- Finding the hidden cash [The Complete Guide]

Procure to pay process could be complex but a well-optimized procure to pay process could also be a source of cost savings. If you agree that the optimized procure to pay process could be a source of cash, then that is great – this guide will walk you through a step by step process on […]

Spending 10+ Hours/Week Approving Purchase Orders & Processing Invoices?

Here’s Our Step-By-Step Process to Cut That Time in Half. This strategy is not for all companies. It is designed for finance teams of growing companies between $1M to $20M in annual revenue who want to cut time spent processing invoices in half and reduce the invoice processing cost by up to 40%. In fact, […]

Accounts Payable Automation for QuickBooks – [Complete Guide]

Struggling with Accounts payable automation in QuickBooks? Do you feel that you have outgrown the QuickBooks system and need to upgrade to a better system for Accounts payables? Don’t change the system yet! Read on for a step by step process on how to automate accounts payable process in QuickBooks using a Accounts Payable automation […]

How to Select a Simple Purchase Order Management Software for Your Business

You got tired of the manual purchasing process and decided to implement a purchase order software. You went to Google and typed purchase order management software and you get a list of options to choose from. So you decided to check them out and view the features etc. Do all of them look the same? […]

Paperless Invoice Processing [A Complete Implementation Guide]

Achieving Paperless invoice processing is an elusive goal for many accounts payable teams. No one enjoys processing paper invoices, scanning them, doing data entry, and then following up with stakeholders to get them approved. The time wasted in processing paper invoices can be used by A/P team to improve other important metrics like on-time payments […]

5 Tips for Faster Invoice Processing Through Better Exception Management

Invoice processing could be a simple process if your purchase to pay process is set up properly. But it could be cumbersome when you have to manually process the invoices. Especially, if you don’t have a purchase order process. If you are using a system like QuickBooks or Xero, then you might be manually creating […]

Procurement compliance for Controllers and CFO’s

Procurement compliance is a big subject and there is no universal definition of procurement compliance. If you ask a procurement professional, procurement compliance is defined as a process by which they measure if the purchases are happening as per defined corporate spend or the purchasing policy. The focus is more on whether we are purchasing […]

How to Increase Margins on Construction by Effective Procurement Management

The construction industry is very competitive, Yes – you already know that. But do you know that you can reduce your cost by 8-10% through effective project procurement management? Imagine how much your profit margins can increase,  for individual projects and collectively as a company. The main causes of cost overruns are 1. Scope creep […]

How to Reduce Cost by 9 -15% in These Turbulent Times

Cost Reduction for any business is a challenge but more so in turbulent times  Business today operates in a lot of uncertainty. Whether it is the current COVID-19 situation or any other Black Swan event that can push the economy towards a downturn. A Black Swan event is a rare event with severe consequences. It […]