Many organizations struggle with poor procurement spend visibility or lack it completely. Think about the old adage, “you can’t control what you can’t measure,” and you’ll realize that this is an ongoing challenge with large enterprise organizations. Without visibility into what your organization is spending, you have no way to control it. The top, and the most obvious, reason why most organizations struggle with spend management and compliance is that the majority of procurement spend...
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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...
MADISON HEIGHTS, MI, January 15, 2016 – Xeeva, Inc., a global provider of next generation, intelligent procurement solutions, today announced that it has acquired ProcurePack, a cloud-based e-procurement and vendor relationship management solution. Together with Xeeva’s full technology suite, ProcurePack adds strategic functionality and integrative enhancements in supplier selection, auctions, raising POs, and executing contracts. Acquiring this technology provides significant value in visibility and collaboration between procurement, finance, and other key stakeholders in the procurement...