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As the business environment begins to contract due to the coronavirus recession, procurement teams have an opportunity to save the day – delivering spend reductions that avoid painful layoffs and help their companies to weather the storm.
Suplari surveyed Finance and Procurement professionals about their concerns, preparedness and coping tactics for a recession. Finance and Procurement professionals can use the report to plan ahead and prioritize practical approaches about:
→ Strategies and levers to quickly reduce cost and risk
→ Specific tactics in each industry sector to deal with a recession
→ Categories and budgets that come under greatest scrutiny
Explore Popular Content
Now more than ever, companies need actionable insights from their data to improve performance in every part of the organization and to help weather Covid-19 and all its economic impacts.Read More
Procurement leaders must urgently spearhead a campaign to help their businesses endure the coronavirus recession and lay a solid foundation that maximizes future business opportunities. This article outlines how procurement teams can formulate effective Cash Management, Supplier Management, Risk Management, and Spend Management Strategies that help mitigate the effects of this (or any future) crisis. … Read MoreRead More
Recently Greg published a thought piece called “Spend Visualization” as a [wake-up call] for the procurement industry to the importance of data in making strategic decision and his recommendation on how to aggregate, cleanse, analyze and train your team on using decisions to drive insights and actions.Read More
As global demand continues to drop for many goods and services, fears of a worldwide slowdown and a “coronavirus recession” loom large over corporate leaders. Chief Financial Officers (CFO’s) are scrambling to do sensitivity analyses to understand their profit outlooks and cash needs. Procurement and sourcing teams can play a significant role in reducing supplier spend and improving cash flow by using spend analysis to leverage data in the ERP, contract management, and procure-to-pay systemsRead More
As the business environment begins to contract due to the coronavirus recession, procurement teams have an opportunity to save the day – delivering spend reductions that avoid painful layoffs and help their companies to weather the storm.Read More
In Part 5 of this series, we examine how Best-of-Breed solutions help improve the quality, efficiency, and value small teams bring to their organizations. For more information, read our post 3 Ways Small Procurement Teams Can Get Outsize Results. Introduction Smaller finance and procurement teams at small to midsize organizations are the most likely to … Read MoreRead More
In Part 4 of this series we look at how leveraging the power of data and AI gives CEOs, CPOs, CFOs, and COOs the ability to gain a better understanding of what their data means and how it can guide their strategy and vision. The Power Of Data & Machine Learning Too few businesses recognize … Read MoreRead More
In Part 2 of this series, we looked at 7 ways Best-of-Breed solutions benefit procurement teams. In Part III, we examine how these solutions make CPOs and other C-Suite executives’ lives easier and provide the effective tools necessary to focus more on big-picture strategy. Introduction CPOs and other corporate leaders understand the importance of having … Read MoreRead More
In Part I of this series, we looked at how and why Best-of-Breed systems in procurement are replacing legacy ERPs. In Part 2, we look at some of the most significant improvements CPOs can expect from their teams when choosing Best-of-Breed solutions. 7 Best-of-Breed Benefits CPOs are under immense pressure to step outside their comfort … Read MoreRead More