Is your organization ready to take on indirect spend?

This quiz goes through some of the key procurement strategies and technology capabilities that you need to successfully tackle indirect spend. To get your grade – just answer the questions below, tally them up, and discover if your organization has what it takes.


IndirectSpendQuiz

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If you didn’t answer yes to everything, check out our educational whitepaper to learn more about integrating AI technology into your organization and see which vital procurement strategies you can implement to start driving results now.

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Procure-to-Pay

Technologies for a New Frontier in Indirect Spend

Technology innovations, especially those driven by advancements in consumer buying, social technology, and big data management, can now be applied to pull together the complex web of suppliers, intangible deliverables, and inconsistent pricing and processes of indirect spend. These readily available technologies can meaningfully simplify the buying experience while optimizing other aspects of indirect spend cost such as supplier fees, terms and conditions, performance specifications, and performance management. If executed correctly, optimizing indirect spend adds...

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Release Highlight

Release Highlight 11.1 – July 2019

1. New: Supplier Categorization Applies to Configurability Overall solution, Invisible to Supplier Requester, Buyer Associated reports Optional by Customer/Default: OFF Suppliers are Active/Valid or Inactive as before, if OFF A vital part of procurement is to channel spend towards strategic & key suppliers and to manage policy and compliance in accordance with supplier standing. With this enhancement suppliers can now be clustered into various (max 4 – see figure) customer-defined categories based on the level...

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Procure-to-Pay

Wrangling the Complexity of Indirect Procurement

It’s no mystery why indirect spend is often ignored. By its sheer nature, optimization has proven to be incredibly challenging. Unlike direct materials which are often highly engineered, associated with a specific set of approved suppliers, and controlled precisely through ERP and MRP technologies, indirect spend is comprised of a highly fragmented group of suppliers that vary by business unit (BU) and plant. These suppliers represent 1000s of sub-categories of goods and services and are...

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