October 2024
As the year winds down, businesses are assessing how to make the most of their remaining budgets. Ensuring every dollar spent delivers value is crucial to avoid last-minute waste and to start 2025 on the right foot.?
In this edition of Spend Insights we’re sharing strategies and resources to help you maximize budget utilization while maintaining efficiency and control over your procurement processes.
Read on for actionable insights and how automation can transform year-end spending decisions.
Today’s News:
Read time: 3.5 minutes
Resource Spotlight ??
Maximize Your Procurement Impact
Are you prioritizing purchasing speed over strategy? It could be costing your business a lot more than you think.?
Tactical purchasing makes budgeting, adapting to disruptions, and maintaining visibility into your process much harder. A strategic procurement plan helps you cut costs and manage risk, while improving company culture and operational performance.
Download the playbook and learn start making informed decisions, align spending with strategic goals and maximize procurement’s return on investment →?
In the News…
Maximize every dollar spent and maintain business resiliency with purchase budgeting
If next month's close begins before the previous month is put to bed, it’s time to read the complete guide to a faster month-end closing process
Avoid busted budgets at year end and gain more visibility into your spend by addressing the 5 most common procurement challenges
Adopt effective sourcing techniques to ensure your procurement strategy is aligned with overall business goals?
Use this packaging cost calculator for more accurately assess your product packaging costs during a busy holiday season
Unlock the potential of your remaining budget and prepare for next year by exploring these 11 key procurement trends for 2025
Reduce purchasing costs and improve upcoming contract negotiations with stronger supplier relationships
Procurement analytics software can help identify spending patterns, supplier performance issues, and potential cost-saving opportunities
Avoid end-of-year financial missteps and develop more precise future budgets with spend aggregation
Success Stories
Faherty Brand streamlined budget management with Order.co , enabling store teams to easily track monthly spending and remaining budgets. By automating and centralizing the entire procure-to-pay process, Faherty Brand was able to:
Listen to how Faherty used Order.co to identify spending trends and accurately forecast their future year budgets based on valuable insights learned →
That’s it for this month!
Now is the perfect time to reflect on your procurement strategies and ensure that your remaining budget is working as hard as it can.?
By embracing automation and smarter workflows, you can improve efficiency and avoid last-minute purchases that don’t align with your goals. Finish the year strong and set yourself up for a successful start in 2025!?
Interested in more spend insights? Stay ahead with exclusive content, expert insights, and insider updates by subscribing to our blog.