Traditionally, procurement is considered a function that operates independently, slashing costs where possible. While reducing spend is a big part of the job, today’s procurement professionals are strategic players in a cross-departmental push toward long-term success. Continue Reading
Efficiency, cost savings, and accuracy are the most notable benefits associated with procurement software. Continue Reading
Construction teams face unique procurement challenges due to the complex nature of the business.
Procurement software has shifted from a “nice-to-have” to a “must-have.”
Many office administrators are initially hesitant to make an investment in procurement software. They know that their current system has some problems, of course, but their employees are already used to it, and it eventually gets the job done.
Construction contracts are especially vulnerable to fraud. According to a global study from the Association of Certified Fraud Examiners, the median loss in over 40 construction fraud cases was about $245,000. For small or mid-sized companies, that amount is staggering. What’s more, small organizations report more instances of fraud than their larger counterparts.
Lack of communication is bad news for any company, no matter the industry.