NPI’s Post

As we well know, it's all about leverage. This webinar shows you tips on how to increase it!!

Jon Winsett, CEO of NPI discusses the challenges of IT procurement and how NPI's AI-driven platform, NPI Vantage Pro, is transforming the field. “IT vendor account teams are the world’s most effective revenue extraction machine," he explains, emphasizing the need for robust negotiation data and support. #ITProcurement #TechDeals #AIDriven

How the Procurement Function Can Save Your Company Money Over the years, procurement has transformed dramatically. From transactional to strategic. Strategic procurement saves money and drives long-term business value. Here's how: Procurement bridges the gap between departments and suppliers. By collaborating with employees, procurement professionals prevent costly mistakes and miscommunications. Establishing a documented purchasing process saves costs and adds value. Automation optimizes procurement processes and provides spending visibility. Using AI that offers advanced analytics to identify opportunities and mitigate risks. Balancing technology with strong relationships to shape spending habits. Always negotiating for the best price and seek multiple pricing iterations. Procurement is essential for cost savings and strategic value. TLDR: Strategic procurement is crucial. Be intentional with your procurement processes. Save money. Drive value. Optimize processes. #finance #CFO #strategy #procurement #costsavings #businessvalue

[RSS Feed Content: "NPI: Arming IT Procurement with the Ultimate Advantage" from Supply Chain Digital. The article discusses how NPI is helping companies optimize IT procurement, reduce costs, and improve vendor performance by providing advanced analytics and market intelligence.] --- 🔍 Check this out! Supply Chain Digital's latest article highlights how NPI is reshaping IT procurement! 🚀 NPI is giving companies the tools they need to make smarter purchasing decisions. By using advanced analytics and market intelligence, they're helping businesses cut costs and get the best deals from their vendors. 📊💡 Imagine having insider knowledge that ensures your company always gets top value in IT spending. This is what NPI is delivering – a real game-changer! 🌟 Read the full article and see how your business can gain the ultimate advantage in IT procurement: <https://lnkd.in/gjBTsZsV> #ITProcurement #SupplyChain #BusinessIntelligence #CostSavings --- Feel free to tailor it further to better fit LinkedIn's style if needed!

Procurement is hard. You’re expected to: ➡️ Manually update databases of 1000’s of suppliers ➡️ Manage contracts like spinning plates  ➡️ Ensure PO compliance and coach non-procurement folk on best practices When you really should be: ➡️ Identifying strategic sourcing opportunities  ➡️ Driving improved supplier diversity  ➡️ Providing insightful analysis to decision makers Manual tasks and complexities keep procurement stuck in operational mode. AI-enabled tools can help you focus on strategic initiatives that drive real value. What's your biggest challenge? Let’s talk! #AI #ProcurementTransformation #Procurement

💡 Master Your Spend, Transform Your Business with Elite Mindz's procurement revolution- EMP EMP isn't just software; it's your strategic procurement partner. Our AI-powered platform automates, optimizes, and transforms your procurement processes, driving significant cost savings and operational efficiency. Key Features: -Vendor Management: Streamline supplier onboarding, evaluation, and performance management. -Spend Analysis: Gain deep insights into spending patterns to identify cost-saving opportunities. -Contract Management: Ensure compliance and optimize contract terms. -RFQ/PO Automation: Accelerate the procurement cycle and reduce errors. -AI-Powered Insights: Leverage predictive analytics for smarter decision-making. Join industry leaders like Tenon FM who have already transformed their procurement operations with EMP. Ready to revolutionize your procurement? Contact us today for a free consultation. - https://lnkd.in/dcwPE-Kv #EMP #procurement #supplychain #procurementsoftware #procurementmanagement #vendormanagement #digitaltransformation #efficiency #costoptimization #business #enterprise #software #solution #elitemindz

🚀 10X Procurement with Gatekeeper's Three Pillars🚀 Success in procurement hinges on visibility, control, and compliance.  At DPW 2024, Gatekeeper showcased how leveraging these pillars through automation and AI can completely transform your procurement strategy. 🔍 Want to know how to make procurement a true value driver? 👉 Read our latest article: https://lnkd.in/eJhqqxCV

Wondering why adoption of your new Procurement system is suboptimal? Are you "managing through the tool"? What does this mean? If you are a Procurement leader (director, head of, CPO, etc.), And you've just implemented a ProcureTech tool (e.g. Sourcing tool), Are you going into the new system to get your status on ongoing projects? Or are you asking your team for information like you used to before? Are you getting emails and Excel files? Or are you checking a dashboard in your new tool? When you implement a new tool, you need to start "managing through the tool" to drive adoption. Essentially, this means saying to your team: "I'm going to be checking the new dashboard. If the data isn't in the tool, it doesn't exist. (e.g. you are late on your project even if you aren't)" Do this, and watch adoption rise by itself. This is applicable for all types of ProcureTech systems: Spend Analysis, Category Management, Sourcing, Contract Lifecycle Management, Catalog Management, Purchasing, Supplier Relationship Management, etc. What other "quick wins" do you have to drive adoption? Let me know in the comments 👇 _________________________ 𝗣.𝗦. I help companies choose and implement ProcureTech solutions for a living. Every Sunday, I send out a free newsletter which documents the best practices, trends and frameworks in ProcureTech. It's read by thousands of Procurement professionals (and counting...) 𝗥𝗲𝗮𝗱 𝗶𝘁 𝗵𝗲𝗿𝗲: https://lnkd.in/eFs8dc-F

🖊 Procurement Maturity is a key concept for alignment of organizations agility and performance on its main P&L item, cost management. In fact, it’s not only a measure of cost saving but a narrative on the overall performance of the business performance, speed, and flexibility. 🔍 In this report, Coupa Software, a well-known procurement software shares their perspective of Procurement Maturity model. Though having some criticism, I believe it is a good starting point for organization to self-check their levels. 📍 As recent research reports indicate, procurement is not a function of spend but a driver of overall business performance. 🕰 Let’s see what the future of procurement tech will bring to the board rooms especially on building resilience and business continuity management. With the advance use of AI, the future is very bright for ProcureTech ! #procurementmaturity #innovation #procurement #technology

Transforming Procurement: The Growth of Procurement Software 📦 The procurement software market is on a remarkable growth path, with forecasts indicating significant expansion by 2032. As organizations increasingly recognize the critical role of efficient procurement processes, the demand for innovative software solutions is surging. These tools not only streamline sourcing and supplier management but also enhance transparency and cost-effectiveness across the supply chain. With advancements in technology, including AI and automation, procurement teams can now make data-driven decisions that lead to greater operational efficiency and strategic value. As we look to the future, embracing these solutions will be essential for businesses aiming to optimize their procurement practices and drive success in an ever-evolving marketplace. Let’s leverage technology to transform procurement for the better! https://lnkd.in/dh6mGEk8 #ProcurementSoftware #MarketGrowth #SupplyChainManagement #Innovation #BusinessEfficiency