Business & Technology Nexus

Dave Stephens on technology and business trends

The Basics

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Effective procurement practices save money three ways: by lowering prices paid for goods and services through negotiation, by lowering overhead costs associated with the buying and paying process, and by helping organizations avoid purchases altogether. It also improves corporate oversight and reduces risk.

And to be sure, effective procurement practices can be accomplished without dedicated software tools. But it’s hard. And as companies grow larger, procurement tools enable productivity and communication that would otherwise be impossible.

I’ll break down this problem into pieces and look at Contract Management, eProcurement, Supplier Enablement, Sourcing, etc. I’ll separate the tools and technology problems from the real business issues Procurement departments are struggling with. I’ll shoot for a meaningful post a day, and we’ll see how it goes.

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Written by Dave Stephens

02/17/06 1:13 PM at 1:13 pm

Posted in Historical

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