Turning Data Into Decisions: The Key to Unlocking Greater Procurement Success

In recent years, supply shortages have led the cost of goods to surge, and procurement teams still face unpredictable challenges as they work to balance costs, manage pricing, and achieve supplier diversity.?

Teams have been surrounded by purchasing data for years, from budget performance to pricing differentials between suppliers. But without the technology and tools to aggregate information, teams found themselves trapped in onerous spreadsheets, unable to distill meaningful insights.?

As part of our ongoing commitment to customer success, we designed new technology to help teams turn data into a strategic asset. Cutting-edge analytics and real-time insights allow buyers to gain control over spending, make smarter decisions, and adapt to market changes quickly. It’s an exciting chance for procurement to achieve cost efficiency and secure a competitive edge.?

We’re here to help you take advantage of your data. The following resources offer insight into the ways data empowers your team to navigate uncertainty and focus on your goals.?

1. Visualize and optimize procurement with program dashboard: Gain a clearer view of your spending to help uncover cost-saving opportunities and ensure purchases align with your goals. Learn how to track and uncover purchasing trends across your organization all in one place.

2. Streamline reconciliation with bulk document downloads: Download limits no more. Enhanced bulk download capabilities provide greater and faster access to purchasing documents, streamline reconciliation, and reduce manual tasks. Learn how access to up to 2,000 documents at once eliminates inefficiencies.

3. Discover hidden value in tail spend management: Tail spend represents about 20% of a company's total spend, but up to 80% of total transactions. Learn how a data-driven approach makes tail spend management more, well, manageable.?

4. Centralize indirect spend for greater savings: Cybersecurity threats, supply chain delays, and the growing impact of AI put procurement processes in the spotlight. Discover how a centralized approach helps you simplify operations with advanced analytics, increased financial oversight, and unified supplier management.

5. Simplify procurement with smart buying tools: Are you making the most of the buying tools at your fingertips? Discover five tools that empower you to harness data and increase efficiency.?

6. Build donor trust with transparent tools: Donor fatigue and engagement are the top two fundraising challenges for nonprofits. Transparent procurement processes empower organizations to build donor trust. Learn how smart business buying tools shed light on donor impact.

As we head into 2025, how will you reimagine your procurement processes? Teams that translate untapped purchasing data into actionable insights will drive meaningful cost savings, adapt to market fluctuations, and better position themselves for long-term success. We’re excited to see how smart business buying strategies and tools will empower your team to reach your goals this year. Explore the resources above to learn more or get in touch with us for one-on-one support.?