ProcurePulse June 2021

ProcurePulse June 2021

From insights to action: Fast-track source-to-pay maturity for transformational value

We’re halfway through the year, and summer has officially arrived!

Despite significant interest and investment, traditional approaches to automating source-to-pay have yet to deliver on the promise of a fully digital process requiring minimal human involvement. Too often, AI is talked about as a magic new solution to overcome hitherto stubborn barriers to automation in the enterprise environment. However, procurement professionals believe that the talk is all about future potential instead of business reality. So, why are so few doing it? Recent advances in natural language processing (NLP), pattern recognition, and cognitive analytics are opening the door for companies to automate no-brainer tasks and start processing their huge volume of unstructured data to derive insights that could lead to better decision-making across their business.

Our June issue has some great tips for you on AI opportunities in sourcing and procurement, how AI enhances contract management, leveraging AI to manage duplicate Invoices, and how healthcare is adopting source-to-pay automation. Read this newsletter to cut through the hype and identify the real business opportunity of AI for source-to-pay.

Sourcing and Procurement

The AI opportunity in sourcing and procurement | Deloitte

Artificial intelligence (AI) is no longer on the horizon. Learn how AI helps sourcing and procurement by using tangible use cases with adoption in the market today. Know how to capture maximum value while simultaneously minimizing risk and how AI aligns with your core business.

Procurement in practice recap: Being the CPO | Spendmatters

Address key learnings from managing a procurement function with a mandate that many CPOs will not have to contemplate. Understanding diverse stories about different CPO’s journey, their transformation and Environmental, Social and Governance efforts, their talent or supply issues, their role and relationships, their daily challenges.

5 reasons why the RFP process is essential for improving sourcing ROI | Aavenir

Learn how to improve your RFP creation process for 5 simple reasons as creating an RFP is a multi-step process that involves many stakeholders.

Contract Management

How AI overcomes challenges of managing contracts & getting digitally signed on time | Aavenir

Do you have no idea how much your contracts are worth? Is it challenging to manage your legal contracts due to a lack of visibility into them and not getting signed on time? Try AI-enabled contract management software!

Are you fulfilling contractual obligations properly? Learn about an AI-enabled contractual obligation management system | Aavenir

Are you fulfilling your contractual obligations adequately? Read how contract lifecycle management solutions like Aavenir makes obligation management a cakewalk.

Invoice and Payments

Managing duplicate invoices with AI | Aavenir

How do companies deal with Duplicate Invoices? Meet Aavenir Invoiceflow to find out.

Introducing Integration of ServiceNow® ITBM - PPM integration with Aavenir Invoiceflow

Integration of ITBM PPM with Aavenir Invoiceflow automatically embeds approved invoice data to the expense line in the cost plan.

Download Datasheet

Source-to-pay Automation in Healthcare

Sourcing in Healthcare – fast track vendor selection using RFI/RFP/RFQ | Aavenir

How do you keep track of potential vendors for supplying Healthcare products? Here is everything you need to know about Healthcare RFP.

AI-based contract management for Healthcare | Aavenir

Are you fulfilling your contractual obligations adequately? Read how contract lifecycle management solutions like Aavenir makes obligation management a cakewalk.

AI & Automation - the future of Healthcare invoicing | SDCExecutive

Healthcare providers focus on accelerating automation for invoices which is a crucial step in creating a more agile, resilient supply chain. Learn how Automation lays the foundation and Artificial intelligence drives the last mile.

Events & Webinars

Managing Contract Lifecycle on ServiceNow at Knowledge 2021

Join us Virtually for ServiceNow Knowledge 2021 to explore how enterprises can manage end-to-end contracts using ServiceNow with AI & Digital Workflows.

AI-enabled Accounts Payable Automation on ServiceNow

Attend this session to learn how Invoice processing can be enabled with AI and workflows on ServiceNow platform

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!

ProcurePulse May 2021

ProcurePulse May 2021

From insights to action: Fast-track source-to-pay maturity for transformational value

Only 24% of Procurement professionals think that business stakeholders are happy with their performance.

The process of approving and onboarding suppliers is too slow; the added value is often too hard to identify. These issues – time and value – are clearly linked. Now is the time to make your move to intelligent operations. If the process could be simplified, procurement professionals would be freed up to do other things. But what would those ‘other things’ be and what value would they deliver?

If your end goal is Procurement 4.0, we’ve got the insights to help you get there.

Read this newsletter to discover the answer.

Sourcing and Procurement

Fast-track to future-ready procurement | Accenture

Learn the three ways CPOs accelerate their move to future-ready operations—and how they extend beyond cost savings.

Supply chain cost optimization playbook for sourcing and procurement leaders | Gartner

Download this Research to know how you can optimize costs through short-term tactical improvements and longer-term transformational changes.

Download E-Book

Unleash breakthrough with AI-enabled procurement on ServiceNow | Aavenir

Attend Knowledge 2021 to learn how AI can “learn” the sourcing patterns and preferences and make supplier recommendations, as well as how companies can transform procurement on ServiceNow

Contract Management

The general counsel report 2021: Rising to today’s challenges and building resilience for the future | CCBJ

Know how corporate legal departments are responding to the pandemic, a shifting digital landscape, diversity, equity and inclusion, the technological competency of lawyers and the road ahead.

7 questions every CPOs should ask before investing in contract management software | Aavenir

Being a chief procurement officer (CPO), you do wear multiple hats! Perform your role better, consider investing into contract management software after asking these 7 questions.

Using AI to extract insights from unstructured third-party contracts | Aavenir

AI can extract 90% of the data from third-party contracts, and does it in real-time, which leads to a 40% reduction in time-to-value; equates to the time a contract is signed to when you are ready to use the extracted metadata.

Invoice and Payments

Invoice Frauds: closing the S2P loop with automated invoice validation | Aavenir

Invoice fraud involves a variety of tactics including inflated invoices, false vendor invoices, duplicate invoices. Learn how Aavenir Invoiceflow’s AI-enabled 2-way / 3-way matching can help eliminate possibilities of invoice fraud.

A cheat sheet for procurement savings tools | IndustryWeek

Understand the differences between spend analytics, should-cost tools, and negotiation insight solutions.

Access Cheat Sheet

Top ServiceNow Partner App Sessions at Knowledge 21

Ready to attend Knowledge21? Here are few interesting sessions featuring ServiceNow partner apps, you don’t want to miss within key tracks.

How Leading Companies Use Source-to-Pay Solutions

Johns Hopkins University unified contract management with sourcing on ServiceNow

The JHU uses Procurement Service Portal built on ServiceNow; along with SAP for managing vendors and product catalogs from 6000+ vendors. However, all contract requests and approvals were tracked manually or in spreadsheets and ad-hoc tools.

Read Success Story

T. D. Williamson gains greater visibility into invoice process with AI-enabled 3-way match using Invoiceflow

TDW’s accounting team processes and manages approximately 50,000-60,000 invoices per year. Much of its AP processes including invoices coding and processing were manual with 7 different email inboxes associated with business units.

Read Success Story

Events & Webinars

Managing Contract Lifecycle on ServiceNow at Knowledge 2021

Join us Virtually for ServiceNow Knowledge 2021 to explore how enterprises can manage end-to-end contracts using ServiceNow with AI & Digital Workflows.

AI-enabled Accounts Payable Automation on ServiceNow

Attend this session to learn how Invoice processing can be enabled with AI and workflows on ServiceNow platform

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!

ProcurePulse April 2021

ProcurePulse April 2021

Driving procurement agility with automation and workflow technologies

Beyond cost savings, high-performing CPOs need to expand their value propositions to influence demand, drive innovation, and work closely with strategic suppliers and partners, increase speed to market, and drive continuous improvement. Insights from Deloitte’s 2021 Global CPO Survey suggest that building capabilities focused on agility is CPOs’ best bet to meet and exceed them.

In this newsletter, learn how strong digital capabilities can help procurement organizations improve data visibility and the ability to collaborate with suppliers, enabling greater agility both within these organizations and across the extended supply networks.

I hope you enjoy reading these articles about procurement technologies. May your company emerge stronger and nimbler from these trying times.

Sourcing and Procurement

Global 2021 Chief Procurement Officer Survey | Deloitte

With changing business dynamics and increasing layers of complexity, expectations of the CPO role have increased. Insights from Deloitte’s 2021 Global CPO Survey suggest that building capabilities focused on agility is CPOs’ best bet to meet and exceed them.

Digitize Strategic Sourcing Using RFP Application | Aavenir

Is there a better way to change the traditional procurement operational approach so that the team can deliver faster RFx-to-award cycle time with effective supplier evaluation criteria? Learn how using RFP Management can help.

Download E-Book

3 Features to Consider For Your RFP Software | Aavenir

Now that you know what your sourcing team needs in order to thrive, it’s time to prioritize RFP software features. So, before buying an RFP solution consider these three key feature factors.

Contract Management

What are Agile Contracts? | Aavenir

Not sure about what is agile contracts and their types? Read in-depth regarding agile contracts and how it benefits business.

Regulating Contractual Obligations in COVID-19 | Aavenir

Evaluate why companies must understand contractual risk exposure, including remediation of contractual obligations to provide more robust protection through times of extraordinary circumstances.

An Evolutionary Approach to Legal Technology | Artificial Lawyer

Where is the evolution of legal tech heading? The end of lawyers is certainly not where it is heading, that is for sure.

Invoice and Payments

Managing IT Vendor Invoices on ServiceNow | Aavenir

Learn how you can manage IT vendor invoices promptly and accurately to maintain good relationships with suppliers.

Accounts Payable Software Buyer’s Checklist | Aavenir

Key questions that organizations should consider when evaluating APA solutions. Make an informed decision based on the factors that matter most to your organization.

Download Checklist

What is 2-way or 3-way invoice matching? | Aavenir

Learn what is a 3 way match and 2 way match which helps to save businesses from overspending or paying for an item that they did not receive.

Events & Webinars

ServiceNow Knowledge 2021

Join us Virtually for ServiceNow Knowledge 2021 to explore how enterprises can manage end-to-end contracts using ServiceNow with AI & Digital Workflows.

Aavenir: Automate Sourcing Using RFx on ServiceNow

Attend this webinar to learn how you can accelerate sourcing with RFP-to-Award workflow on ServiceNow.

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!

ProcurePulse March 2021

ProcurePulse March 2021

Ideas and Resources to Reshape The Future of Procurements

March is National Procurement month, and that means it is time to celebrate the purchasing profession! Please know that we celebrate the difference that procurement makes daily within your organization.

This is an opportunity to take time to thank those involved in procurement activities in your organization and educate others on the value that procurement brings on the table. In honor of National Procurement Month, we hope you enjoy reading these popular articles published this month that capture the essence of a procurement profession.

Sourcing and Procurement

What role can procurement play in freeing up cash? | Spend Matters

Learn how business leaders are prioritizing to free up cash and better manage their liquidity position by deeper visibility into their supply networks.

Transforming Source-to-pay on ServiceNow

Address key challenges of adopting Source-to-Pay solutions for your business and learn why you should bring Aavenir Source-to-Pay solutions on ServiceNow.

Download E-Book

Managing Procurement Risk: Enterprise Agility for a Changing World | HBR

The global pandemic has highlighted just how critical strategic sourcing, contract management, and procurement are for managing risk and creating competitive advantage.

Contract Management

Optimizing Contract Management in Retail Business | Aavenir

Know how retailers can link their current challenges in contract management processes with an effective contract management program.

Contract Management for Cyber Security | Aavenir

Why Cybersecurity Must Be Priority for Contract Managers? Learn how Contract Management Solution can help.

Download E-Book

6 Shifts to Build a More Flexible, Resilient Legal Department | Gartner

Legal departments must flex in six key ways to ensure they provide cogent, timely guidance to business on legal, ethical actions. Discover how to build a more flexible, resilient legal department.

Invoice and Payments

Steps to Implement AP Automation in Your Organization | Aavenir

Learn how to devise a road map for AP Automation and improvements in your AP processes by using an AP Maturity Model.

What Are The 4 Big Challenges With Analyzing Unstructured Invoice Data? | Aavenir

For finance teams, the move away from physical workplaces highlighted the impracticality of continuing with manual accounts payable for SMEs. Read how SMEs think more strategically about their long-term work processes.

Solving Accounts Payable Biggest Challenge With Automated Invoice Extraction | Aavenir

Learn how Invoice Data Extraction can help AP in automating invoice scanning, processing and reduce time, effort, and cost spent in manual data entry.

Events & Webinars

Spend Matters: Future of Procurement – Aligning with Enterprise IT Strategy

Aavenir: Automate Sourcing Using RFx on ServiceNow

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!

ProcurePulse February 2021

ProcurePulse February 2021

Ideas and Resources to Reshape The Future of Procurements

The early weeks of 2021 reveal a continuation of 2020’s trends. Lockdowns and consumers staying home put e-commerce into overdrive, and the momentum shows no signs of slowing. A step-change in consumer behavior will inevitably spiral through the supply chain, and procurement is no exception.

Forward-thinking CPOs have already moved past the bottom line and “saw that only focusing on cost is definitely not sufficient. They need to step up even more in a strategic position to really support the business growth from a revenue perspective. The question is, how? Will procurement leaders’ roles take on new significance?

The stories below offer a look ahead at procurement and sourcing in 2021 and beyond.

Sourcing and Procurement

The Time for Procurement to Lead Value Capture | Mckinsey

With companies facing more pressure than ever to deliver savings, procurement teams can offer not only short-term relief, but also long-term rewards.

3 Win-Win Strategies to Negotiate with Vendors | Aavenir

Discover how to handle complicated, high-level business negotiations with vendors in this blog. Learn about the Top 3 Strategies to handle negotiations.

Mitigating Supply Chain Risks from Cyber Attacks | Aavenir

How secure is your supply chain? Do you even know what cybersecurity risks your suppliers are creating?

Contract Management

Contract Analytics: Measuring KPIs using Dashboard | Aavenir

Want to know how modern CLM solutions help the leading contract managers to achieve rising levels of contract KPIs? Learn how Digital Workflow and AI can help.

Download E-Book

Contract Review Checklist for Services Vendor | Aavenir

Leverage this checklist to get immediate visibility into the services vendor contract. management risk exposure as per key components of enterprise-class supplier risk assessment programs.

Download Checklist

Third-Party Risk Management | Gartner

Identify and monitor the risks throughout third-party relationships. Leading organizations are moving from a point-in-time approach to one that is iterative.

Invoice and Payments

The AP Metrics that Matter in 2021 | Ardent Partners

In today’s competitive business environment, having access to accurate and real-time metrics can be a game-changer. Check out this annual eBook, “Ardent Partners’ AP Metrics that Matter in 2021”

How can AP automation help SMEs survive? | Finextra

For finance teams, the move away from physical workplaces highlighted the impracticality of continuing with manual accounts payable for SMEs. Read how SMEs think more strategically about their long-term work processes.

Events & Webinars

Spend Matters: Future of Procurement – Aligning with Enterprise IT Strategy

IOFM: 4 Steps to Transform Accounts Payable

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!

ProcurePulse December 2020

ProcurePulse December 2020

The Monthly Procurement Insights and Trends Roundup

2021 on the horizon. According to SpendMatters, unless there is a significant market correction that impacts the venture and private equity markets, 2021 will be a year of unprecedented funding for procurement technology firms. This brings with it tremendous opportunities for procurement, legal, finance, and sourcing teams to take full advantage of technology.

Read this newsletter to learn how leading organizations are making better use of technology investments and resources to drive strategic outcomes.

Wish you Happy Holidays !!

We look forward to helping you achieve your source-to-pay goals for the new year!

Around the Web

Explore some useful articles published on leading websites in the past few weeks.

Procurement

How Amazon Business is revolutionizing procurement

Sourcing

Eliminating Silos to Drive Order-to-Cash Performance

Procurement and Contract Management

Managing Procurement Risk: Enterprise Agility for a Changing World

Procurement and Contract Management

Legal Planning and Budgeting for 2021

Accounts Payable

Why you are thinking about direct spend AP automation all wrong

Aavenir: Monthly Roundup

Explore some useful articles published on leading websites in the past few weeks.

IOFM Summit: Enabling AP Processes for an Efficient Distributed Workforce

Achieve Holistic Vendor Risk Management with ServiceNow and Aavenir

Unlock the True Value of Contracts: Obligations Compliance Tracking

Top 7 Trends Shaping the Future of Sourcing & Procurement Beyond 2021

Souring Procurement Trends 2021

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!

ProcurePulse October 2020

ProcurePulse October 2020

The Monthly Procurement Insights and Trends Roundup

Amid this volatility, organizations that are successfully leading the change have understood the importance of efficient procurement functions for their business strategy and competitive advantage in the next normal. Procurement departments have made immediate shifts to support faster, decentralized decision-making throughout the source-to-pay operations. One of the important shifts in the adoption of AI-enabled process automation software and digital workflow technologies which makes it easier for business stakeholders to execute some sourcing events.

This edition explores the lasting effects of COVID-19 and how organizations can reorient the procurement function as sourcing advisors to avoid roadblocks to progress against mission-critical business objectives.

Wish you lots of treats and success coming your way. Happy Halloween !!

Around the Web

Explore some useful articles published on the leading websites in the past few weeks.

Procurement

5 procurement shifts for the Post-COVID world

A new report from McKinsey outlines the five steps that all procurement departments should be taking to prepare for the post-pandemic business world.

Sourcing

An innovative way to prevent adversarial supplier relationships

In a tough, uncertain economic environment like the one created by the pandemic, the relationship between companies and their suppliers often deteriorates as each party places its own needs above the others. But a novel approach that a number of companies are employing — a formal…

Legal Contract Management

5 dispute-resolution & dispute-prevention clauses for contract negotiations

These 5 dispute-resolution and dispute-prevention clauses for contract negotiations can help ensure a harmonious partnership.

Accounts Payable

UK businesses face fines for late payment of suppliers

For the first time, large businesses could be fined for failing to pay smaller suppliers on time as part of a robust package of measures launched by small business minister Kelly Tolhurst, but there will be no change to the 60-day payment term set out in the voluntary Prompt Payment Code

Vendor Payments

How the supplier guides the accounts payable evolution

As organizations’ AP departments move to overcome these elevated hurdles, automation technology and payment innovations will emerge as key tools to help them get where they want to go.

Aavenir: Monthly Roundup

Explore some useful articles published on leading websites in the past few weeks.

Determine ROI of AP Automation on ServiceNow; Measuring impact on KPIs

Discover, Assign, and Monitor Contract Obligations on ServiceNow

5 KPIs That Drive Accounts Payable Performance

What is Strategic Sourcing? – For Supply Chain Success

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!

ProcurePulse September 2020

ProcurePulse September 2020

The Monthly Procurement Insights and Trends Roundup

To successfully navigate through this economic downturn, each department must transform how they operate and collaborate with internal and external stakeholders. Adopting a digital workflow-based operating model could allow business functions to route tasks quickly and efficiently among the remote departments while responding to sudden supply challenges. The challenge, of course, is that newer technologies for implementing digital workflow pose immediate costs in these ambiguous times. With uncertainty in financial positions, organizations are increasingly hesitant to spend scarce cash on untested solutions. This month’s ProcurePulse explores the latest articles, which you may refer to identify resilient source-to-pay workflow solutions for the future.

Around the Web

Explore some useful articles published on leading websites in the past few weeks.

Procurement

5 ways to reimagine Procurement

COVID-19 has caused significant disruption on global supply chains, with manufacturing halts and airports and seaports shut down throughout the pandemic. But how has procurement been redefined? Here are McKinsey’s five ways to reimagine procurement.

Sourcing

How to embrace collaborative innovation with suppliers?

Unlocking collaborative supplier innovation requires clearly defined strategies and operations by a sourcing, procurement and/or purchasing team to ensure that suppliers’ competencies are being leveraged to their fullest potential. This article should serve as a starting point for creating and/or enhancing collaborative supplier innovation.

Legal Contract Management

How Legal Finance can support Legal Innovation to become risk-free and reinvest cash?

By financing or monetizing affirmative litigation and arbitration, companies can unlock the value of their legal assets— without adding risk to the balance sheet. In so doing, GCs and in-house leaders can free up (or generate) capital to reinvest in the transformative technologies, both for the legal department and for the business at large.

AI-enabled Contract Management

How intelligent automation can help Legal to become client-centered and future-focused?

Digital innovation through intelligent automation can support law firms in building a competitive advantage through efficiency and excellent client service. Beyond boosting efficiency and optimising costs, automating tedious work allows people to focus on what’s truly valuable to the firm in future. Learn more about Why now & how intelligent automation can help

Vendor Payments

The digital transformation of buyer / supplier dynamics - Beyond Payment

Behind every transaction, on each side of the equation, whether buyer or seller — lie actual people. And perhaps that is as it should be. Trust is not so easily built with robots. Moving digitization efforts further up the process is where value can be added, friction can be removed, and perhaps, even decisions can be accelerated.

Accounts Payable

How the pandemic is prompting a fresh look at AP processes?

This article’s deep dive examines how the pandemic is changing AP practices and encouraging corporate buyers to adopt cloud-based systems and artificial intelligence (AI)-powered AP automation.

Aavenir: Monthly Roundup

Explore some useful articles published on leading websites in the past few weeks.

Why IT Leaders Choose Unified Platform as a Strategy?

AI-enabled Accounts Payable Workflow on ServiceNow

Manage Business Risks and Obligations using Contract Management Software

Manage-Post-Award-Signature-Contract-Obligation-Management-Software-Aavenir Contractflow

Manage-Post-Award-Signature-Contract-Obligation-Management-Software-Aavenir Contractflow

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!

ProcurePulse August 2020

ProcurePulse August 2020

The Monthly Procurement Insights and Trends Roundup

The vital role played by procurement functions to quickly source personal protective equipment (PPE) and other critical supplies has proven that the procurement team can deliver at speed. But, how to ensure that procurement spends are done wisely? How to bring lean-management discipline in purchase function to increase capacity dramatically and reduce risks and delays? Procurement leaders should look for an opportunity to consider how spend transparency, analytics, decision rules, alerts, smart payments and predictive intelligence could help them respond to these challenges even faster. This months’s ProcurePulse explores the latest articles, which you may refer to build resilient source-to-pay operations and supplier footprints for the future.

Around the Web

Explore some useful articles published on leading websites in the past few weeks.

Procurement

How Lean Management Creates New Value in Procurement

Properly applied, the disciplines and systemic thinking of lean management can become a strategic weapon: aligning purchasing to internal customers’ interests, rethink the end-to-end procurement process, and transforming the effectiveness of strategic procurement activities. Read how lean management enabled the procurement team at a global insurer to increase capacity dramatically while reducing risk and delays.

Sourcing

Are You Prepared for Bad Press About One of Your Suppliers?

With all the risks and opportunities for operational failures, global supply chains managers can all but guarantee that at some point something will go wrong somewhere in the supply chain, and, particularly with the rise of social media, that consumers will hear about it. Read more to know how firms can mitigate damage.

Contract Management

What’s Your Negotiation Strategy?

High-stakes negotiations tend to produce a lot of anxiety. There are often opportunities to change a deal’s scope and achieve better results. Read some of the key strategic principles negotiators should apply to their next complex deal.

Contract Management

Firms Are More Prepared to Use Legal Tech in 2020

Law firms and in-house legal departments agree that outside counsel must increase use of legal technology to be more efficient. Read Bloomberg Law’s Legal Operations Survey (2020) describing how Law firms have improved their preparedness to use technology since last year.

Accounts Payable

Data Begins Rolling In on Pandemic’s Late B2B Payments Impact

The impact of the pandemic on B2B payment behavior has become all-too-clear in recent weeks. Read new research, which is beginning to roll in to take a broader view of exactly how the crisis has affected supplier payments.

Accounts Payable

The Role of Spend Analytics in the Next Normal

The COVID-19 pandemic has proven that procurement functions can deliver at speed. Read more to know how can they also ensure that they’re spending wisely?

Aavenir: Monthly Roundup

Explore some useful articles published on leading websites in the past few weeks.

The Future of Procurement: Modernizing How Companies Buy

The-Future-of-Procurements-How-Companies-Buy-Source-to-Pay-Aavenir

The-Future-of-Procurements-How-Companies-Buy-Source-to-Pay-Aavenir

COVID19 Reopening: Reassess and Manage Contract Risks & Obligations

Contract-risks-obligations-management-webinar

Contract-risks-obligations-management-webinar

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!

ProcurePulse July 2020

ProcurePulse July 2020

The Monthly Procurement Insights and Trends Roundup

With a 32% estimated decrease in global trade volume compared to 2019, most CPOs feel procurement-related risks have also increased in the last few months.

Traditional isolated source-to-pay operations limited procurement functions’ ability to assess and respond to COVID impact. Post-COVID, improving collaboration between sourcing, legal, finance, and operations over the digital platform will become vital in developing future-ready procurement functions. In this July edition of ProcurePulse, we have tried to cover some ways to pivot your procurement function for short-term survival along with long-term resilience.

Around the Web

Explore some useful articles published on leading websites in the past few weeks.

Procurement Management

Why Investing in Procurement Makes Organizations More Resilient?

As companies focus less on efficiency and more on resilience, procurement becomes central to strategy. Read an

HBR article on how can firms develop the resilience they’ll need to strategically and effectively meet this new challenge.

Sourcing and Procurement Management

Shaping sourcing and procurement post-COVID - Four key topics to Recover in July 2020

A holistic view of sourcing and procurement risks and COVID-19 in context. Check out a brilliant article by Deloitte on six potential challenges impacting your ability to serve a changing market and a Respond, Recover, Thrive framework to response to them.

Contract Management

Crisis accelerates the adoption of legal technology

The opportunity that presents itself is not whether law firms will change, but to what extent they can capitalize on the transition,

Contract Management

Buying legal services and legal tech: When will YOU conquer the legal category?

It clearly pays to involve procurement for buying corporate legal services and legal technology. 17% of the total legal spend is what legal procurement professionals were able to save on average.

Accounts Payable

Six ways we will have to re-negotiate cost post-crisis

This article looks at why and suggests six ‘old’ ways we could negotiate cost in the ‘new’ normal in the near future.

Aavenir: Monthly Roundup

Explore some useful articles published on leading websites in the past few weeks.

Closing the Gap: Procurement and Accounts Payable

Procurement-and-Accounts-Payable-Software-Application-for-ServiceNow

Procurement-and-Accounts-Payable-Software-Application-for-ServiceNow

Why Enterprise Must Manage Contract Templates

5-Reasons-Why-Enterprise-Must-Manage-Contract-Templates-using-CLM-Software-Benefits-Aavenir

5-Reasons-Why-Enterprise-Must-Manage-Contract-Templates-using-CLM-Software-Benefits-Aavenir

What would you like to see in the next newsletter?

We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.

Enjoy reading ProcurePulse!!