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Procurement payment terms – part 2 – Opportunities

By: Alexandra Pogacean | April 24, 2019

In part 1 of this blog series we talked about procurement payment terms as a general approach. In the second part of the series we will delve a bit deeper into how optimising your procurement payment terms can significantly improve your overall cost savings. These are the areas to focus on in order to take […]

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Meet the Team – Paul Tempest, Service Delivery Manager

By: Alexandra Pogacean| April 15, 2019

This month’s meet the team section welcomes Paul Tempest, Service Delivery Manager. Paul has been working at Xoomworks for more than a decade and he manages the Operational Procurement Support centre.    1. Tell us about your time/journey in Xoomworks I joined Xoomworks back in 2002 as an Analyst working on a number of procurement […]

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Procurement Payment Terms – part 1 – The Basics

By: Alexandra Pogacean| April 11, 2019

Trying to keep your relationships with your suppliers can be a tricky situation, especially when we are referring to payment terms. Finding a supplier that offers good payment terms can take time. As we live in an ever changing business environment, many procurement departments try to achieve cost savings from negotiating better payment terms with […]

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How to incorporate digitalisation into your payment process

By: Alexandra Pogacean| April 8, 2019

As per the most recent survey done by Deloitte CPOs main interest and goal is still to achieve cost reduction (79%). Their research also discovered seven main areas that are of major interest for high-performing procurement leaders:  Photo credit: The Deloitte Global Chief Procurement Officer Survey 2018 In this article, we’ll try and address the […]

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The Quest for Sourcing Excellence – part 3 – Top tips for driving better results from your procurement sourcing

By: Andrada Sabo| March 22, 2019

In part 2 of this blog series we uncovered the 6 steps companies need to follow in order to get a good understanding of their strengths and weaknesses when it comes to their current sourcing process. We want to first just put it out there: It’s OK to have weaknesses. All the successful organisations have […]

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Aligning Procurement Strategy with the Business Strategy (best practices)

By: Alexandra Pogacean| March 19, 2019

Procurement has become a key enabler in the generation of incremental profits and is now  becoming the custodian of third party risk awareness and risk mitigation. This trend has been an evolving journey for over 50 years. In particular, looking back at the statistics post 2008 when the world experienced the global financial crash, organisations […]

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The Quest for Sourcing Excellence – part 2 – 6 steps to sourcing excellence assessment

By: Andrada Sabo| March 14, 2019

In the first part of this blog series we tried to illustrate the role that sourcing plays in the success of an organisation’s procurement strategy. It’s clear, having a strong sourcing process in place can help deliver significant savings and get more value from the procurement function.    But how do we get sourcing to […]

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The Quest for Sourcing Excellence – part 1 – Sourcing a critical part of the Procurement Strategy

By: Andrada Sabo| March 6, 2019

Over the last decade there have been many debates about the importance of having an effective procurement strategy in place. It is nearly impossible these days to keep cash flowing smoothly without a well-documented strategy.  We have moved on from the premise that the procurement strategy needs to cater only to the procurement function, now […]

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The importance of a successful RFx process

By: Alexandra Pogacean| March 4, 2019

  Before choosing a P2P implementation partner or a P2P software provider your organisation should ensure that you are aiming for the best possible outcome for your needs rather than just the best in breed solution. It is important to be willing to have a real conversation about what the products can or cannot do, […]

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