Artificial intelligence is not a new development. It has existed in infancy since the 1950s, and as a concept, well before that. Unless you had a career or particular interest in robotics, programming, or automation, its impact on your life was likely minimal, unless you happened to be an hour deep in a sci-fi movie.
How AI Augments Procurement Departments Read More »
National Procurement Month is celebrated throughout the month of March and is dedicated to honoring purchasing professionals. This is a great time to show your appreciation for the dedication of your procurement team and all the hard work they do throughout the year. There are several ways to prepare for National Procurement Month, but this
How to Show Your Appreciation During National Procurement Month 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
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In today’s fast-paced business environment, where most procurement leaders strive to stay ahead of the curve, it’s important to have a system in place that can track and report on spend data effectively. The need for outsourcing spend analysis in procurement is even greater when management aims to reduce costs and improve process efficiencies, while
Outsourcing Spend Analysis in Procurement When Resources are Limited Read More »
For procurement and finance professionals, monitoring expenses is a critical component of managing budgets. Unfortunately, cardholders can sometimes circumvent transaction limits using several split-transaction strategies. In this blog post, we will discuss the challenges associated with monitoring expenses when cardholders attempt to circumvent transaction limits, violate policy by doing so, and how to best manage
Challenges of Monitoring Expenses When Cardholders Circumvent Transaction Limits Read More »
Communicating positive purchasing behavior to employees who purchase goods and services for the organization often remains overlooked by approving managers or the central review team. Focused on red flags with potential for fraud or misuse, communicating the risky behavior takes priority. A follow-up by managers of these risks takes precedence to help reduce or stop
