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

Whitepaper Webinar Contact

 

 

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.

Want to see more?

Explore our other resources

 

 
Spend Analytics

The importance of managing tail spend, maverick spend, and spot buys

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...

Read More
 
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...

Read More
 
Business Strategy

Supply Risk Management and Supply Chain Visibility

Setting up systems to monitor supply risk management and supply chain visibility can preempt future performance issues that your organization may encounter. Predictive financial performance monitoring tools are often of value to companies monitoring the activities of their suppliers – indeed, recently one large global manufacturer was able to prepare for the impending bankruptcy of a major supplier due to their predictive analysis, indicating that the supplier was developing cash flow issues. Related: Supply risk...

Read More