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August 15, 2018

How good tax management in procure-to-pay can help save a lot of money.

How good tax management in procure-to-pay can help save a lot of money.

The world is mainly divided in two blocks in term of tax: the Value-Added-Tax, or VAT, that has been adopted by 166 countries out of 193 in the world; and the US, which is almost the only country that has sales tax. Some countries have still a very complex tax system that has not been unified between the provinces, like Canada, however the Good and Services Tax (GST) works mainly like the VAT.

There are a lot of differences in the way these two main tax systems work. Robust tax management can simplify the complexity for procurement.

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August 8, 2018

Growing procurement influence through CLM.

Growing procurement influence through CLM.

Unlocking the strategic value in contracts.

A recent McKinsey study was chock-full of surprises in terms of procurement and CLM, including this little gem:

Across industries, total procurement operating expenses are typically less than 1 percent of total spending. By underinvesting in this way, companies are overlooking a significant source of value: suboptimal contract terms and conditions combined with a lack of effective contract management can cause an erosion of value in sourcing equal to 9 percent of annual revenues. For Fortune’s 2016 Global 500 companies, this 9 percent would have equaled $2.5 trillion in value.”

Kind of makes you wonder, what’s in your contracts?

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August 2, 2018

How to Define Procurement Intelligence and Put it to Work.

How to Define Procurement Intelligence and Put it to Work.

It’s not just about IQ, but EQ (Effectiveness Quotient).

While intelligence is critical, a precise measure of procurement intelligence is less important than the performance it generates. In point of fact, as a department (and the entire profession) matures, the definition of procurement intelligence becomes a moving target; and it becomes relative to nearly all stakeholders in the source-to-settle spectrum .

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July 26, 2018

Winning Strategies to Build an Intelligent Procurement Operation.

Winning Strategies to Build an Intelligent Procurement Operation.

It’s time to up your digital game.

In this fourth and final part of our blog series for the release of CPO Rising 2018: The Age of Intelligence, Managing Partner & Chief Research Officer of Ardent Partners returns to delve into Chapter Four – Strategies for Success. He caps off the report by offering best practices and forward thinking from leading global CPOs about how to achieve Intelligent Procurement. They run the gamut from common sense to “why didn’t I think of that?” — and you’ll find many more in the report itself which is available for download.

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July 24, 2018

Procurement steps up its game.

Procurement steps up its game.

Is Spend Under Management a “Has Been?”

In this, the third of our four-part blog series for the release of CPO Rising 2018: The Age of Intelligence, Kelly Barner of Buyers Meeting Point delves into the myriad facets of Procurement Performance in Chapter Three. There’s no debate that the importance and influence of procurement is on the rise across industries, but the question is, are procurement’s metrics – like spend under management – truly representative of those accomplishments?

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