Introduction Did you know that, according to a recent survey, over 60% of CFOs cite inefficient procurement processes as a significant barrier to their organization’s financial performance? In today’s fast-paced business world, a CFO’s role extends beyond just overseeing financial operations. Modern CFOs are strategic partners in organizations, steering critical

As a CFO, you know that managing invoices can be a time-consuming and costly process. Manual invoice processing can lead to errors, delays, and a significant drain on your company’s resources. Fortunately, there is a solution: OCR invoice processing. OCR, or Optical Character Recognition, is a technology that enables computers

Deploying a new procurement system in an organization can be a complex and potentially disruptive process, especially if it requires employees to learn and use a new software. However, with careful planning and a phased approach, it is possible to introduce the new system without creating undue stress or frustration

Introduction Procurement is the process of acquiring goods and services from external vendors, a critical aspect of any business. However, procurement can also be a source of frustration and inefficiencies due to a range of common problems. This article will explore seven of the most common issues faced by procurement

Managing procurement in Excel can be a challenging and time-consuming task, with many potential drawbacks and limitations. One of the key problems with using Excel for procurement is the potential for errors and inconsistencies in data entry. Excel spreadsheets rely on manual data entry, which can be prone to mistakes

When we start implementing a new procurement system (in truth, everything written here is true regarding the implementation of most organizational systems), we are faced with the dilemma – should we change the entire organizational procurement procedure so that it aligns with the system’s guidelines? Alternatively, should we continue the