The industry is flooded with numerous software solutions, and it is not easy to select the best tools to serve your business needs. Choosing the right solution is a critical decision and knowing your criteria before getting too deep in decision making is a huge benefit. Here’s a 5-Step Approach on how to choose a software package for your business. 1. Business Roadmap: Once the business owner decides the roadmap of the business, the market, and the target customers, how the business solution is going to impact...
Procurement and purchasing activities and improved spend management have always been competitive factors for an enterprise. Managing key supplier relationships and costs contribute directly to bottom-line profits. Controlling indirect procurement spending can introduce various cost-saving opportunities and help organizations improve their operating costs. Three areas in which companies try to curtail their procurement and purchasing costs are reduction in spot buys, controlling the maverick spend, and managing tail spend. Each one can be optimized to...
Whether your organization is large or small, utilizing Xeeva’s Spend Analytics platform is the first step in gaining control of your indirect spend. Accessing your indirect spend data to share with Xeeva can sometimes appear to be an overwhelming task. This blog aims to guide you through what you need to do to prepare to send your data and explain how our team can help. There can be several challenges in collecting this data –...
As a new Xeeva Spend Analytics customer is being onboarded, we often get asked “what happens to my spend data?” After the hard work of collecting all the details has been done and a complete data set has been handed over to the Xeeva team for processing, it’s common for you to wonder what exactly we’re doing with your data. You may hear that it could take several weeks to organize, cleanse, and categorize your...
“What will the future look like?” has become the question of 2020. At this year’s OESA Automotive Supplier Conference, industry experts and senior automotive executives joined virtually to discuss how the industry will continue as it settles into a new norm and focuses on the future once again. Following the event’s theme of “Journey Back to the Future,” the 3-day conference consisted of a variety of conversations that included the industry impact of the coronavirus,...
We recently attended the ProcureCon MRO virtual event that brought together senior-level maintenance, repair, and operations (MRO) procurement innovators representing some of the world’s largest manufacturing companies. Although the event was held behind computer screens, industry experts, practitioners, and solution providers gathered virtually to discuss the various ways organizations have been impacted, how to better manage risk, and how to proactively respond for the future. Read on to learn our most valuable takeaways. Now is...
Procurement activities and improved spend management have always been competitive factors for an enterprise. Managing key supplier relationships and costs contribute directly to bottom-line profits. Controlling indirect spend can introduce various cost-saving opportunities and help organizations improve their operating costs. Three areas in which companies try to curtail spend management are reduction in spot buys, controlling maverick spend, and managing tail spend. Each one can be optimized to yield better results for organizations, and having...
The rise in digital transformation has led to a massive increase in data as the systems used at a company continue to grow. In fact, the 2019 Deloitte Global CPO Survey showed that 59% of CPOs believe analytics in procurement will have the most impact on their businesses over the next two years. As data grows exponentially, procurement leaders today are dealing with: Increasing data complexities Poor master data quality The inability to generate analytics...
No matter the industry, managing spending is always a fundamental focus for any executive team, and nothing impacts spend as much as variation in the purchase price of goods and services. Purchase price variance (PPV) is one of the key metrics – arguably the most important metric – used by procurement teams to measure the variation in the price of purchased goods and services. It is a prime measure of how effective the procurement team...
Spend Matters SolutionMap, an extensive independent benchmark of procurement technology providers has been published multiple times for the last several years. Procurement professionals have been using these SolutionMaps to track market development and disruptors, assess provider capabilities based on their needs, and identify their best-fit provider shortlist. So how did Xeeva fare on the 2020 spring release? On the latest Spend Matters SolutionMap release, Xeeva was ranked as a solution leader in both the Spend...
In the first two chapters of our tale, we explained how to differentiate AI from the buzzword and explored how the state of AI is currently only at a basic level. But not all artificial intelligence is created alike. More advanced AI, the kind that can deliver real results for your organization, is more than just a fairy tale. Going beyond helpful Of course, any kind of AI is capable of helping you. Automation can...
We’re not like a regular procurement software company, we’re a cool procurement software company. And according to their 2018 report of Cool Vendors in Procure-to-Pay Applications, Gartner thinks so too. That’s a pretty big deal, and we’re psyched that Gartner is telling the world that we’re just as cool as we already know we are! For those of you who aren’t familiar with Xeeva already, let’s break down three reasons why we believe Xeeva was...
ISM 2018 in Nashville, TN was a whirlwind of an event! Thousands of supply chain management professionals spent last week at the Institute for Supply Management’s annual conference, encompassed with 4 days of educational sessions, 2 days of intriguing vendor exhibitions, having hundreds of inspiring conversations, and building countless relationships. From speakers like Arianna Huffington, founder of The Huffington Post, to Dan Bartel, chief procurement officer at ABB, the conference was full of highly informative...
Last week a mix of supply chain professionals were brought together in Boston to learn about digital trends affecting manufacturing and gain insights into why development, digitization, and innovation are important. The event was DMSCA’s annual conference with the theme of “Velocity – Gearing Up Suppliers for New Opportunities in Manufacturing” and we were happy to be a part of it. Our CEO, Dilip Dubey, joined the conference as a subject matter expert in artificial...
Decisions, goals, and opportunities are all part of any journey. The path you take to reach each of those is important. What matters more though is where you start. That’s what determines if you will make it or not. Every part of life has a foundation that without, it would come crumbling down. For people, it’s oxygen. For cell phones, it’s a charged battery. If either of those were taken away, how long would you...