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.

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.

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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.

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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,

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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.

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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.

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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

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Why Enterprise Must Manage Contract Templates

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

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