Procurement departments can run into serious issues without the proper procure-to-pay tools. Lackluster procurement strategies can bring unnecessary risk, dark purchasing, detrimental data inaccuracies, harmful supplier issues, and a more drawn-out procure to pay cycle. Procurement teams no longer need to be bogged down by wasted time, overlooked opportunities, and poorly allocated resources due to decentralized and ineffective procurement planning and execution. Rather, they can maximize a future-minded procure to pay process flow with procure to pay software. Here's how procurement professionals can select the right solution for their needs.
Government contract management can be divided into three overarching phases: procurement and acquisition planning, the sourcing and award, and post-award contract administration. The first two phases typically enjoy the most time, attentiveness, and financial investment. However, the neglect of the third stage - post-award management - as a tertiary duty can leave your organization unsupported and en route toward needless compliance violations, increased risk variables, and missed opportunities. It could be argued that the post award contract process is the most essential stage for your government organization, but it has notoriously been abandoned to insufficient visibility and a lack of allocated resources. Read this article to learn how to face the challenges of post award contract management head on with an actionable post award contract management software solution.
Ineffectual procurement strategy can lead to elevated risk, dark purchasing, supplier issues, data inaccuracies, and a drawn out purchasing cycle or procurement cycle. As we enter the procurement month of March, organizations should seek new ways to innovate the fulfillment of purchasing goals. So stop wasting time, squandering opportunities, and mismanaging resources with a disjointed and inefficient procurement process. March into procurement month with your eyes open for these, the best procurement software features for your processes.
It is important for procurement professionals to successfully align vendor management and purchasing goals with a trusted solution. Luckily, CobbleStone Software - which has been preferred by procurement professionals for over 20 years - can help organizations to establish a procurement strategy, strengthen procurement processes, and commit to a future-minded and proactive approach to procurement while embracing automated eProcurement software. Read on to learn why so many procurement professionals choose CobbleStone time and time again.