Procurement 2024: Trends, Challenges, and Opportunities

The last few years have been tumultuous for procurement leaders – and that’s putting it lightly. Companies have had to navigate resource limitations, changing expectations, and increasingly complex economic challenges. All of this while teams are expanding their engagements with outside vendors and signing shorter term contracts. While it doesn’t feel like there is a…

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What is indirect procurement and why your company should care

Image depicts two employees reviewing their spend management

Projected to grow by an estimated 7 percent per year globally, indirect procurement provides an often overlooked opportunity for companies to save time and money. When companies use digital solutions to “revolutionize” indirect procurement, McKinsey estimates cost savings of 15 to 20 percent. This provides a huge opportunity for companies to invest in their longevity…

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What is vendor relationship management? 

Companies rely on outside vendors to help reach their goals. However, few are dedicating the time to ensure the success of those vendor partnerships. By implementing an effective vendor relationship management strategy, companies can achieve measurable success and see faster return on investment.  What is vendor relationship management?  Vendor relationship management (VRM) is the process…

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Winter is coming: 8 tips for end of year procurement readiness

Winter is coming. It may have already arrived for some. And that means it is time for end of year madness. While we all know it is coming, few of us have the bandwidth and resources to properly plan for the influx of requests, the surprise renewals, and the quicker than possible turn time expectations.…

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Productiv ranks 31 on Deloitte’s 2023 Technology Fast 500

We’ve got some exciting news to share: Productiv has earned 31st place on the 2023 Deloitte Technology Fast 500 list. This prestigious list recognizes the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, and we’re proud to be part of this dynamic group of businesses. Other winners from this…

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What is Spend Management?

Spend Management is a solution in which an organization brings all of its spend data (SaaS spend, employee expenditures, shadow spend, contracts, application usage data, license consumption and more) into one centralized platform to assess suppliers, contracts, and expenses to make informed decisions regarding purchases, renewals, and management of expenditures and then take action on those decisions.

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