How to automate procurement with AI (and a little magic)
Automation and AI are a perfect match for procurement. Want to know why, and most importantly, how? Here are just a few reasons. Finance needs efficiency – it’s obvious, isn’t it? Yet so many businesses still seem to forget about it, perhaps drowning in the day-to-day tasks where you just can’t really see the big […]
The psychology of supplier negotiations: How cognitive bias impacts decisions
Supplier negotiations are often seen as a numbers game. Compare offers, push for better terms, and close the deal. But there’s another super important layer at play: psychology. We shape our decisions not just on facts and data but also on how we interpret them. And that’s where cognitive biases can sneak in. Understanding them […]
Negotiation-ready sourcing: the 5 data points you should always bring to the table
To truly gain an edge in supplier negotiations, your sourcing process needs to be data-driven and negotiation-ready. Everybody seems to be saying that, but what does that actually mean? In really simple terms: it’s building a sourcing strategy that equips you with the right information before you sit down to negotiate. And in this article, […]
Automating the pre-negotiation phase: why it matters more than the negotiation itself
When most procurement professionals think about sourcing, their minds jump straight to negotiation – securing the best price, the most favorable payment terms, or a guaranteed delivery schedule. But most of the time, by the time you reach the negotiation table, the most important decisions have already been made. Let’s explore why the pre-negotiation phase […]
