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- November 04, 2014
- Making Cents
Advances in technology are making the world smaller and easier to navigate. How will these changes impact the way companies approach procurement and spend management? Can procurement increase its mojo? The five perspectives below help give some idea of what changes we can expect in tomorrow’s procurement landscape. We even have our first bold predictions for 2015.
Keep up with the changing finance and procurement landscape by reading the latest articles by thought leaders and subject matter experts on cloud, strategic procurement and finance and supplier innovation.
At what point will e-invoicing surpass traditional paper invoicing? CFOs who have foreseen the benefits of faster processing time and automated tracking and matching have already made the switch. With increasing adoption of cloud technology, the tipping point may come sooner than you think, says Accounts Payable News.
Procurement professionals will have to adapt to new challenges in order to meet rising organizational demands, writes Supply Chain Digital's Sam Jermy. Among these are maintaining strategic alignment across all departments and establishing footholds in emerging markets.
In an extract from his new book, Procurement Mojo, Sigi Osagie argues that procurement professionals are underrepresented in corporate leadership relative to their impact on a company’s bottom line. The “Global Village” nature of the modern economy demands more than token commitment to strategic procurement practices.
The cloud, big data, mobility and social networking will change the way buyers and suppliers interact, says Procurement Logic’s Tom Linton. The same technology that’s taking the legwork out of say, making dinner reservations, can do the same for vendor relations. Procurement policies will have to evolve fast to stay viable.
Electronic Accounts Payable (EAP) cards, also known as virtual cards offer AP professionals an efficient and highly secure way to make payments – especially unusually large ones. With payment fraud on the rise since 2012, you can expect to see more of this relatively new, little-used payment solution in the coming months.