In a recent post here, we wrote about the difference between direct and indirect spend, and shared some of best practices for effective direct spend management. Many procurement teams (and professionals) get their start managing indirect spend categories such as office supplies, equipment and back office services. However, the opportunity to step up and impact …
We often get asked by people not familiar with our industry the difference between indirect and direct spend or, more specifically, the difference between an indirect procurement management system and a direct procurement management system and how the two impact a business. The generally accepted difference between direct and indirect spend is that direct spend …
We often get asked how SourceDay, a supplier portal, and EDI solutions compare. It’s a great question. EDI has been around for a long time and is a great way for businesses to transfer electronic data files between systems without human involvement. How SourceDay and EDI Compare? As we mentioned in a previous blog, EDI …
We run into many companies who are interested in implementing an EDI tool or are already using EDI and “don’t have supplier pain”. Although there are valid reasons to adopt an EDI solution, before you take the plunge, there are a few things you ought to know. EDI, at its core, is data transformation between …
Have you ever stopped to think how much inaccurate invoices cost your company? When the PO in the ERP and the vendor invoice match, everything is good. Vouchering is straightforward and payments are quickly processed. If an invoice doesn’t exactly match, and the price and quantity differ from the PO, your company is likely spending …
ERP systems seem to be naturally low on the trust/adoption index, making it an uphill battle to ensure that all data and transactions flow through them. Ironically, it is that lack of trust that leads to the exact conditions that effect adoption, creating a circular and self-fulfilling prophecy for failure. Although we’re surrounded by technology, …