3 Lessons Learned at NIGP 2016

NIGP 2016 Booth

By: Tara Ann Neville

Perfect Commerce attended the Institute for Public Procurement (NIGP) Forum and we came away with three key lessons from the show. As part of a 3-blog series we discuss the key lessons we learned, the reasons why you should care and we reference recent articles on the topics. Check out our Perfect Blogs and join in the discussion on our social media channels LinkedIn & Twitter.

Reverse Auctions—Who, When & What

Trending today…a demand for Reverse Auctions and Events. Over the past few years, there’s been a steady demand for and an increase in use of Reverse Auctions. Reverse auctions swap the roles of a traditional buyer and seller. The benefits to reverse auctions include:

  1. Reduces paperwork
  2. Increases efficiency
  3. Lasting only weeks, not months

What is Ineffective Contract Management Costing Your Organization?

In business, there are two types of organizations: those that automate and those that need to. You’d be hard pressed to find a best-in-class organization that does not automate contracting. Strong sourcing and procurement departments appreciate the significant savings through the automated management of supplier relationships and count on the improved workflow to reduce errors and minimize contract negotiation time. Reasons to automate include:

  1. Centralize and automate
  2. Reduce contract negotiation time
  3. Eliminate costly manual errors

What Does Complete, End-to-end Really Mean?

It’s time to replace disparate systems with one Source-to-Pay solution. As we’ve acknowledged the trending of reverse auctions and events, it’s important to note the overall need for an end-to-end sourcing solution, as it has become more urgent with each passing quarter.

  1. Replace disparate systems
  2. Integrate with other systems
  3. Enhance buyer-supplier communication

How mature is your procurement department? 2016 means automation and procurement maturation, so look to Perfect solutions to put hair on your chest.

 

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