According to a 2020 report from the Open Contracting Partnership and Spend Network, almost 97% of all public procurement spend around the world per year ($12.6 trillion) is opaque (meaning there is no transparency about what the spend is). Essentially all of that money is subject to significant risk such as waste and fraud. Now, […]
The Cost of Inaction Read More »
Science fiction has long warned us about the rise of artificial intelligence. Movies, novels, animation, and pop culture have conjured up images in our minds of AI rebelling against human civilization and causing catastrophe. As you may have noticed, AI has been a hot-button issue recently, not just in the world of procurement, but on
Artificial Intelligence in Procurement Read More »
Read about the mishandling of ghost card accounts, especially in combination with their purchasing card (P-Card) programs.
Afraid of Ghosts? Busting Confusion Around Ghost Cards Read More »
In a post-COVID world, a sense of normalcy is beginning to return to business travel. That said, the impact of the pandemic is noticeable. The pandemic and its economic fallout may have shaken your confidence in spend for travel and expenses (T&E). Many organizations and corporate bodies remain frugal as the economy slowly works its
Maximize ROI for Travel Expenses Read More »
Training cardholders in your organization on how to follow policy can be tricky. This is true for both organizations with a P-Card program or those that issue Travel Cards, Fleet Cards, One Card, etc. Cut down on fraud and misuse by properly training employees, approvers, and program managers from the get-go. In our experience, it
Commercial Card Training: Best Practices Read More »
How is your card program using data? Many procurement managers know that data in their procurement programs could be leveraged more efficiently, but feel unsure on how to start. In addition, many departments throughout a single organization want to know information that comes from procurement. Requests for specific numbers are also likely to come from
Leveraging Data For a More Powerful Procurement Program Read More »
