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.
With companies facing more pressure than ever to deliver savings, procurement teams can offer not only short-term relief, but also long-term rewards.
Discover how to handle complicated, high-level business negotiations with vendors in this blog. Learn about the Top 3 Strategies to handle negotiations.
How secure is your supply chain? Do you even know what cybersecurity risks your suppliers are creating?
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.
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.
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
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”
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.
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