#automated purchasing

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Despite more CPOs reporting directly to CFOs, as well as lots of talk about the importance of synergy between PROCUREMENT and finance, many organizations still keep these functions in very distinct silos. If your organization has more space than you’d like between the two departments, the good news is bringing them together can be a relatively smooth process. A big part of why organizations can find a lot of success by bringing procurement and finance into closer alignment is the two departments already have a lot in common. So with that in mind, here are a handful of steps that can be very useful in encouraging successful collaboration:

Contracts are crucial for enterprises. Without them, there wouldn’t be a way to cement the relationships that enterprises have with their SUPPLIERS. Given that suppliers are the source of goods and services that enterprises require to remain functional, it’s easy to understand why contracts are something that need to be taken seriously. Although CONTRACTS serve a very important function for enterprises, that doesn’t mean they’re always handled properly.

Regardless of the size of a company or its specific industry, the activities of procurement and accounts payable impact each other. Because of this link, a company’s goal should be to maximize the efficiency of both departments. Doing so has very clear benefits, especially in regards to the procure-to-pay process.

In recent years, PURCHASING DEPARTMENTS have begun to play a more significant role within many organizations. A big driver of this shift has been the realization by companies of all sizes that purchasing can actually provide a competitive advantage. As a result of this increased significance, it’s important for companies to understand how to properly measure purchasing performance.

E-procurement can provide numerous operational BENEFITS to hotels that make the transition to this type of system. To help demonstrate exactly why AUTOMATING INVENTORY and procurement should be a top priority for hotels as 2015 winds down and 2016 gets nearer, we want to highlight the most significant benefits:

If the amount of pressure you’re experiencing is motivating you to become the best purchasing manager you can be, we have a handful of tips that can help you work towards that goal.