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To Receive or Not To Receive: Inventory Management and Three-Way Matching
Every company needs a way to handle procurement. Whether your company is a small business ordering printer paper and ink, a manufacturer relying on the purchase of materials and parts to do business, or a multi-national corporation handling everything from […]
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Streamline Procurement with An Innovative New Feature for Processing Purchase Order Acknowledgements
Here at Next Process, we’re always on the lookout to develop new features and make our products more useful to clients who are using our software. Part of this process involves listening to requests and suggestions from current clients, which […]
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Spend Management During a Recession: Planning for the Possible Future
While economists debate the definition of “recession” and go back and forth on whether the U.S. economy is in recession, there’s no denying that rising inflation is taking its toll on individuals and businesses alike. At the end of April, […]
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7 Tips for Managing Inflation in the Procurement Department
Rising inflation is hitting businesses hard. In many cases, cutting back on purchasing isn’t an option. Manufacturing companies still require direct materials in order to manufacture products. Transportation companies still need packing supplies. Those in the healthcare industry still need […]
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Purchasing with a Purpose: Supporting High-Level Goals through Strategic Procurement
Traditionally back-office functions like accounts payable and procurement are moving into the limelight. The AP department, for example, is increasingly recognized as the central hub for controlling spend management. Much like accounts payable, procurement can also play a strategic role […]
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What is P2P? And How to Make Your Business P2P Seamless and Efficient.
The process between procurement and payment is often complicated. It involves purchase orders, invoices, tracking, budgets, order modifications, payment, and so on. P2P stands for this whole “procure-to-pay” or “purchase-to-pay” process. P2P is the process a company goes through to […]
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7 Reasons Why Outsourcing Procurement Services is Exactly What Your Business Needs
If you’re in a product-based business, procurement is key to your success. It’d be tough to manufacture all your own parts and materials. In some cases, it might even be impossible. Either way, things run much more smoothly if you […]
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Here’s How Category Management Solutions Can Improve Procurement In Your Company
The procurement process can get pretty messy, especially as your organization grows. If your company has a lot of orders going through the procurement department, it’s very easy for things to get disorganized. One way to help combat this problem […]
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Which eProcurement Solution Is Right For My Company?
The majority of CPOs believe having a digital procurement solution is a good idea. Even so, most haven’t implemented eProcurement in their company. If your company is in this situation, you might have put off implementing eProcurement because it seems […]
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What Is The Difference Between Procurement, Purchasing, Sourcing, Purchase Orders, and Requisitions?
As you read about business purchasing and procurement, you’ll start to notice people using several different terms. Words like procurement, purchasing, and sourcing are often used interchangeably. The same goes for the paperwork involved, such as purchase orders and requisitions. […]
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Creating A Purchase Order System For Your Small Business
If you’re running a small business, purchase orders might seem like an unnecessary step that just adds to your paperwork load. Many small businesses don’t even use purchase orders, preferring to rely on invoices from the seller to document orders. […]
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Here’s What You Should Know About Sustainable Procurement in 2022
Sustainable business practices are a hot trend in today’s world. Social and environmental sustainability are near the top of many companies’ goals, particularly those companies located in nations that have pledged to reduce their carbon footprint and greenhouse gas emissions. […]
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