5 Steps CFOs Can Take Right Now to Get Ahead of a Coronavirus Recession

March 18, 2020By Niki ParekhBlog, COVID-19

As global demand continues to drop for many goods and services, fears of a worldwide slowdown and a “coronavirus recession” loom large over corporate leaders. Chief Financial Officers (CFO’s) are scrambling to do sensitivity analyses to understand their profit outlooks and cash needs. Procurement and sourcing teams can play a significant role in reducing supplier spend and improving cash flow by using spend analysis to leverage data in the ERP, contract management, and procure-to-pay systems

How Small Procurement Teams Operate Like They’re 10x Bigger

January 23, 2020By Mari StromBlog

In Part 5 of this series, we examine how Best-of-Breed solutions help improve the quality, efficiency, and value small teams bring to their organizations. For more information, read our post 3 Ways Small Procurement Teams Can Get Outsize Results. Introduction Smaller finance and procurement teams at small to midsize organizations are the most likely to … Read More

How Data-Driven CPOs Optimize For Strategy & Performance

January 23, 2020By Mari StromBlog

In Part 4 of this series we look at how leveraging the power of data and AI gives CEOs, CPOs, CFOs, and COOs the ability to gain a better understanding of what their data means and how it can guide their strategy and vision. The Power Of Data & Machine Learning Too few businesses recognize … Read More

Effective CPOs Start With The Right Solutions For The Job

January 23, 2020By Mari StromBlog

In Part 2 of this series, we looked at 7 ways Best-of-Breed solutions benefit procurement teams. In Part III, we examine how these solutions make CPOs and other C-Suite executives’ lives easier and provide the effective tools necessary to focus more on big-picture strategy. Introduction CPOs and other corporate leaders understand the importance of having … Read More

How To Design The Procurement Team Of The Future

January 16, 2020By Mari StromBlog

A 2018 Hackett Group study shows “world class procurement organizations” have 29% fewer staff and 21% lower labor costs when compared to peers. Queue the chorus of complaints: “Fewer staff? We barely get by with what we have!” While that may be true given your organization’s present circumstances, it is incumbent upon C-suite finance and … Read More

Supplier Relationship Management: The CPO’s Secret To Mitigating Risk

January 16, 2020By Mari StromBlog

One method Procurement leaders are using to prepare their teams for an effective 2020 and beyond is fostering and managing solid supplier relationships that can help mitigate risk and prepare your organization for potential disruptions. Quality supplier relationships are integral to the health and well-being of almost every organization. While some suppliers are absolutely integral … Read More