When a company makes the decision to implement compliance software, the steps they take at the very beginning of the process are likely to determine whether they end up with the right technology. Procurement’s strategic sourcing process provides an effective methodology for identifying, comparing, and selecting a vendor, but it cannot be effective without a solid foundation of objectively set specifications and requirements. Without the right process and inputs, regret is just around the corner.
If you’re a small business owner, you’re certainly not alone in being fed up with “us” – meaning corporate procurement. That seems like a funny thing to say these days, as I’m not really in procurement anymore. I am on the small vendor side and I completely sympathize with your procurement overhead struggles.
That said, I think I can connect the two sides of my experience – being in corporate procurement and running my own B2B business – to provide some actionable advice that you and others may be able to use to protect your bottom line while aggressively growing the top line.
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