Executive Insights Companies are aggressively looking for tactics to reduce costs and unlock savings on all their indirect and direct purchases and to more effectively manage their cash flow in procurement. Declining market demand and over-capacity is driving finished product manufacturers to put price pressure on their suppliers. They too must then re-negotiate contracts with … Read More
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.
Managing cash flow, finding savings, and enforcing new spend policies are top of mind for most CFOs right now. With no end in sight to the coronavirus crisis (yet), procurement teams must prepare now for a recession. Their big challenge is to determine what should be prioritized to maximize results. Suplari is reacting quickly to customer requests to deliver fully automated insights from a customers existing ERP and financial data that identify opportunities to conserve cash, avoid large payments, negotiate better terms, and enforce new policies.
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 More