Making a Case for Procurement Automation
The majority of businesses have issues with certain aspects of the procurement process. Supplier management, buy requisitioning, invoice capture and…
Bundled Payments: Everything You Need to Know
Bundled payments are a form of Alternative Payment Models (APM). It refers to the compensation, in which the payment is…
9 of the Most Important Areas to Track Procurement Metrics: Everything You Need to Know
Procurement metrics are performance measurement tools employed to measure and assess the effectiveness of a company’s procurement administration. These KPIs…
Vendor Relationship Management: Everything You Need to Know
The procurement process, in general, involves two to three different parties. They are the client company, a distributor and a…
Need to Reduce Costs? Smarter Spend Analysis is Key
Every business strives to reduce operating costs across the board while boosting profitability, but it’s not easy. Businesses that do…
Top Procure-to-Pay Trends You Can’t Ignore
The procure-to-pay process is a series of interconnected and synchronized actions performed to meet a need for products or services…
EDI Invoice – Everything You Need to Know
Often referred to as Electronic Data Interchange or EDI, an EDI invoice is a digital version of an invoice or…
What Does OCR Stand For?: Everything You Need to Know
OCR is an abbreviation for “Optical Character Recognition.” It is a technique that detects text within digital images or digitized…
ACH: Everything You Need to Know
ACH transactions are online, bank-to-bank funds transfer filtered with the help of an Automated Clearing House (ACH) Network. The ACH…
E-Invoice: Everything You Need to Know
E-invoice, also known as an electronic invoice, is the exchange of a receipt paper between the vendor and the purchaser…