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Welcome to the GoProcure Blog

Your one stop shop for transformative insights and groundbreaking trends in the procurement industry today

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A Guide to Reduce Supply Chain Costs and Save Money

The summer months combined with the continued challenges brought by COVID-19 could mean that your business is running a little slower than usual. Yet this downtime might not come as much of a respite as you face the stress of trying to contain costs to offset some of the impact of this difficult economic environment. However, finance and procurement teams can use this time to dive deeper...

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How Automating Spend Management Saves You Money

Business leaders may not always think they have the resources to track and dive into all areas of spend, as they may be focused on other goals such as increasing revenue. However, the advent of automated spend management — where e-procurement and spend management software are used to automatically collect and analyze spend data, along with other functions like supplier sourcing — makes p...

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Optimizing Spend Management With a Remote Workforce

Having a remote workforce or providing more workplace flexibility can help companies reduce costs long-term, such as on office space and utilities. However, without careful planning, remote work can create additional expenses and opportunity costs, particularly for those new to this setup. These expenses can range from clear costs, such as for purchasing work-from-home technology to the ...

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Leveraging Procure-to-Pay Technology to Optimize Resources

Too many businesses struggle with disconnects between procurement and accounts payable functions within their organization. When someone in procurement places an order or an employee makes a maverick purchase, your finance or accounts payable (AP) team might not know about this spend until they receive an invoice, which can lead to issues such as: Going over budget: If finance and AP tea...

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How Outsourcing Procurement Can Optimize Costs

In an environment where many businesses are struggling to pull in pre-pandemic revenue, optimizing costs takes on even greater importance. While in many cases that means cutting costs, sometimes optimizing expenses means shifting budgets from one area to another, or perhaps investing in higher-quality talent, services, technology, etc., which can ultimately lead to a stronger bottom line...

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How to Improve Budget Management Using Remote Work Tools

The shift to remote work due to COVID-19 has caused many companies to rethink their workforce management strategies, with many organizations now more open to remote work on a long-term basis. Amidst this shift, companies have turned to tools that help enable remote work, such as communication and collaboration platforms that make it easier for employees to stay on the same page with each...

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Category: Procurement CPO Finance

How Companies Can Thrive With a “Less Is More” Strategy

While COVID-19 has undoubtedly caused significant hardships, one of the silver linings has been that many people and businesses have learned to operate with less than they’re accustomed to. From companies having less in-person oversight of employees as they work remotely to consumers getting by with less purchasing, having “more” isn’t always necessary. On the contrary, many businesses a...

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Companies Need More Supply Chain Transparency Amidst COVID-19

Although more companies are beginning to re-open stores, offices and other facilities, business is anything but usual. No one knows how quickly economic activity will rebound and many businesses need to adjust their operations to meet current health and safety protocols. Yet repositioning your own operations is only part of the challenge. Your suppliers likely face significant obstacles ...

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Category: Procurement CPO

How Procurement Teams Can Prepare for Business Re-Openings

Across many parts of the U.S. and other areas of the world, government officials are cautiously beginning to lift stay-at-home orders. For a wide range of businesses, that means their stores, offices and factories are starting to or preparing to re-open, and some of their suppliers might resume operations too. Still, this new environment will likely look quite different than it did in th...

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How Procurement Teams Can Minimize Supply Chain Disruptions

In these difficult times during the Covid-19 pandemic, businesses are trying their best to carry on, often with a remote workforce. In doing so, many companies not only face lower revenue but also supply chain disruptions that can affect their ability to operate successfully and adapt to changing conditions. These disruptions can include preferred suppliers running out of stock, delayed ...

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Finance Teams Need Spend Visibility Now More Than Ever

With unemployment soaring and the economy facing a great deal of uncertainty due to the COVID-19 pandemic, many finance teams are struggling to navigate this difficult period. Revenue might have already fallen for your company or projections might look bleaker over the rest of this year, meaning finance teams are scrambling to cut costs where possible. Plus, to get through this period of...

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Maintaining Procurement Control Remotely

Over the past few weeks, many companies have transitioned from having to suddenly shift to remote work due to the COVID-19 pandemic to now settling into this new dynamic as the new normal...or at least as normal as things can be right now. While the outbreak hopefully gets under control sooner than later, many companies that have had to operate with a more remote workforce won’t necessar...

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Reach Larger Corporate Objectives with Supplier Diversity

As companies increasingly start to implement supplier diversity goals, such as setting an annual percentage of spend with women-owned, minority-owned and veteran-owned businesses, it’s important to remember that there isn’t necessarily a magic number that automatically defines success. Not every company moves at the same pace, and many will differ in their commitment to supplier diversit...

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Category: Procurement CPO

Improving Procurement Controls to Increase Savings During Economic Uncertainty

As companies try to navigate the economic uncertainty brought by the COVID-19 pandemic, many businesses will have to reduce their spending to account for lost revenue. While it might not be possible to immediately balance out income and expenditures, implementing stronger procurement controls can at least reduce unnecessary costs and help companies better understand their finances during...

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Category: Finance

Navigating Economic Decline with Spend Data and Analytics

As businesses try to rapidly adjust to change stemming from the COVID-19 pandemic, including a shift to more employees working from home and potentially a sharp economic decline in many sectors, finance teams need to get a handle on their spending. Doing so, however, isn’t necessarily as simple as just cutting superfluous costs or freezing spending. In many cases, finance teams need to i...

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Digitization and Automation Can Help AP Teams Operate Remotely

Times like these, where the COVID-19 pandemic is causing many businesses to shift to remote work, highlight the importance of companies having the right technology and processes in place to keep operations running as close to normal as possible. Increasing the possibilities of remote work is important not just for getting through this crisis, but also for preparing for future events like...

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How AI is Improving the Guided Buying Experience of E-Procurement Users

While still in early stages, the exciting category of artificial intelligence (AI), which includes subsets such as machine learning and predictive analytics, is starting to have a profound effect on procurement. In particular, AI is helping buyers improve purchasing efficiency while helping companies overall gain the insights they need to improve in areas such as finance and risk managem...

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The Human Element of Improving Tail Spend Management

Procurement as a whole has transformed over the last 20 years from a largely back-office, operational function to become one of the more strategic, value-added activities for businesses. Now, the area of procurement known as tail spend or unmanaged spend — the small purchases in areas like office supplies or ad-hoc services in areas like marketing and maintenance — is also becoming more ...

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Category: Procurement

How to Work With Suppliers to Optimize Tail Spend Management

While many businesses are starting to recognize the value of focusing on operations and technology to optimize tail spend management, doing so does not need to entirely be an internal matter. Instead, companies can optimize tail spend and improve their overall procurement by working more closely with suppliers. That means that instead of simply working with suppliers on a transactional b...

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Is Automating Tail Spend Management a Viable Option?

As more companies realize the value that comes from prioritizing tail spend management, they may face resource challenges trying to get a handle on everything. From purchase approvals to supplier sourcing to invoice management, procurement has a lot of moving parts, and the large number of small transactions that comprise tail spend can be difficult to stay on top of. However, the rise o...

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Why Should My Company Prioritize Tail Spend Management?

The smaller, non-strategic, typically unmanaged expenses that comprise your tail spend — ranging from office supplies to cleaning services — may seem unimportant in comparison to large expenses like payroll, rent and equipment. However, altering large expenses can be far more difficult and have more adverse effects than tackling tail spend. For example, cutting payroll could decrease emp...

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Category: Procurement CPO

Getting New Year Budgets off to a Strong Start

The turning of the calendar brings new potential for a successful year, and businesses can use this time of year to clarify goals and establish new strategies to stay on track. One area in particular to focus on is getting budgets off to a strong start, which can require a mix of technology and implementing stronger processes that help build a foundation of tracking spend data and adheri...

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Don't Get Lax with Procurement Compliance During the Holiday Season

With the holidays approaching, your office environment may be a bit more relaxed, but that doesn’t mean your procurement compliance should ease up. However, it can be hard to ensure all your end-of-the-year purchasing still follows compliance protocols with more employees working remotely and/or having finance and procurement take time off. Fortunately, there are ways to stay on top of c...

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Category: Procurement CPO

How to Avoid Busting End-of-Year Procurement Budgets

As the year comes to an end, it's important to not let a more relaxed work environment around the holidays turn into a recipe for disregarding strong business practices. In particular, you don't want all the hard work you've done throughout the year to manage budgets go out the window through undisciplined spending and a lack of oversight. Instead, finance teams should look to leverage a...

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Category: Video
Category: News Awards

Sandeep Gauba, Announced as Honoree for 2019 Top Entrepreneurs Award

September 27, 2019 (Atlanta, GA)  -  Sandeep Gauba, CEO and President of GoProcure, an award winning B2B e-commerce platforms, was announced as an honoree for 2019 Top Entrepreneur Awards hosted by TiE Atlanta. The awards recognize Atlanta entrepreneurs who have built and grown their companies to bring in a minimum revenue of $2 million and no more of $100 million, and has been in busine...

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Category: Diversity Suppliers

How Diverse Businesses Can Grow Their Customer Bases

Becoming a more diverse company helps organizations improve in a myriad of ways. Not only can diverse businesses have more equitable workplaces with broader talent pools, but they also can leverage diverse perspectives to spark innovation. For example, companies that report above-average diversity of their management teams also report more revenue coming from products and services launch...

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Category: Diversity Suppliers

4 Ways to Build a More Diverse Supplier Base

Incorporating more diversity in your supplier base in terms of working with more women-owned, minority-owned, veteran-owned and other diverse businesses can yield significant benefits for your company, including more innovation and improved procurement quality. But while the benefits are clear, it’s not always obvious to businesses how they can start sourcing from diverse suppliers, espe...

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Category: Diversity Suppliers

How Minority and Women-Owned Businesses Can Grow as Suppliers

Diverse businesses such as minority and women-owned companies may feel like they lack certain opportunities to gain access to new customers and grow, but the good news is that the tide is starting to shift. Increasingly, companies recognize how diversity can boost innovation and improve areas such as procurement, which is leading to more opportunities for diverse businesses to grow as B2...

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What Does Diversity Have to Do With Procurement?

Throughout all levels of a company, diversity can yield a variety of benefits, ranging from boosting innovation to improving recruitment to helping brands live up to their values on inclusion and social responsibility. But while it may be relatively apparent how having more diverse perspectives within boardrooms and throughout an employee base can lead to new ideas and ultimately growth,...

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Category: Diversity

Add Diversity to Your Supply Chain to Boost Innovation

Companies of all sizes are increasingly recognizing that building more diverse organizations not only helps create a more just, equitable world but also yields a variety of business benefits. For example, companies with above-average diversity among their management teams report a higher amount of so-called innovation revenue, i.e., products and services launched within the preceding thr...

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Gaining Visibility Into Unmanaged Spend Can Lead to Innovation

Small purchases by employees for products like office supplies or services like office cleaning may not seem like a big deal, as you may think that whatever your company spends in these areas pales in comparison to your largest expenses like payroll and rent. When left unmanaged, this spend can start to add up, create compliance risk, and ultimately lead to poor business decisions. The g...

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Tail Spend Management: Hype or Real?

While tail spend management has traditionally been more of an afterthought compared to larger, more strategic spending, these small purchases can still add up to significant amounts and affect organizations’ risk management, employee experience and more. Fortunately, more procurement leaders are paying attention to tail spend now, particularly with the advent of e-procurement platforms l...

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How Poor Spend Data Affects Financial Business Decisions

Businesses are increasingly utilizing data to optimize everything from marketing to talent recruitment, and procurement should be no exception. Yet many companies have significant room for improvement in this regard, as they only have visibility into how they’re spending with their largest suppliers, while many smaller ones get overlooked. In fact, only 6% of procurement leaders say they...

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Category: News Awards Diversity

GoProcure Named Diversity Supplier of the Year by the Georgia Minority Supplier Development Council (GMSDC)

ATLANTA--(BUSINESS WIRE)--GoProcure, a leading procurement solutions company that provides a B2B e-commerce platform, was announced as the winner of the Georgia Minority Supplier Development Council’s (GMSDC) Supplier of the Year Award. GoProcure was selected for its innovative spend management and e-procurement solution and for its continual commitment to diversity suppliers. The GMSDC ...

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5 Ways to Improve Spend Management Without a Procurement Department

For midsize companies without a procurement department, spend management may be somewhat of an afterthought. Understandably, these businesses often feel like they need to direct their limited resources towards other initiatives such as increasing sales, but today’s technology makes it increasingly possible for midsize companies to easily improve spend management. In doing so, midsize bus...

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Are Procurement Teams Ready for AI?

Artificial intelligence (AI) offers exciting potential to improve procurement functions, from helping to recommend products to improving fraud detection. However, many companies are still in the early stages of incorporating AI into procurement. Only 2% of procurement leaders have fully deployed AI/cognitive technologies, finds a Deloitte survey. At the same time, AI appears likely to be...

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Three Ways Predictive Technology Improves Tail Spend Management

When it comes to procurement, the little things count. Small supplier relationships that tend to sit outside the strategic focus of an organization—the tail spend of procurement—may seem insignificant, but altogether, they can comprise an unwieldy group that outnumbers core vendors and cuts into profit margins. Fortunately, procurement teams can utilize predictive technologies that turn ...

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Strategic Procurement Casts A Wider Data-Capture Net

In an interview with the Managing editor of pymnts.com, Sandeep Gauba, CEO of GoProcure, shares insights on Tail Spend and the impact of FinTech in the world of procurement B2B FinTech has made leaps and bounds in the world of procurement, enabling large enterprises to automate a significant portion of their purchasing processes. Strategic sourcing, data integrations with ERP and account...

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No PunchOut, No Problem...

While many companies are starting to understand that they need to get a better handle on their tail spend — those small transactions that sit outside a company's strategic spend but which can add up and cut into profits —too often businesses run into technology roadblocks in this area. Businesses often find that their procurement systems lack interoperability with certain suppliers and h...

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Category: News Awards FinTech

GoProcure, Blazing the Trail to Deliver State-of-the-Art FinTech Capabilities to the World of Procurement

ATLANTA--(BUSINESS WIRE)-- GoProcure, a leading provider of tail spend procurement software, has been selected as a winner of the Technology Association of Georgia (TAG) FinTech ADVANCE Awards for its proven and innovative FinTech solution. The TAG FinTech ADVANCE award recognizes innovative U.S. FinTech companies that have an established customer base, generate revenue and demonstrate s...

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4 Ways FinTech Innovations have Transformed B2B Payments and E-Commerce

The growth of financial technology (fintech) has not only changed the way people bank and invest, but fintech innovations are also transforming the way we transact. In the B2B sector, that includes changing and improving the way companies pay for goods and services and use e-commerce. Specifically, fintech innovations have transformed B2B payments and e-commerce in the following ways: 1....

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Category: News

A New Look for GoProcure...

ATLANTA, Ga. -- GoProcure, a leading provider of tail spend procurement software, today announced the launch of its new brand, characterized by the introduction of a new logo and visual identity. This move signifies the company’s growth as a principal partner to organizations seeking to improve tail spend management.  “At GoProcure, we believe technology and people together create magic....

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Category: News Awards

TAG FinTech Society Names GoProcure as a 2019 ADVANCE Award Winner

ATLANTA, GA-March 20, 2019 - The Technology Association of Georgia (TAG), the state’s foremost organization devoted to the advancement of Georgia’s technology industry, today announced the 2019 TAG FinTech ADVANCE Award winners. The winning companies include Brightwell, Featurespace, GoProcure, Greenlight, GROUNDFLOOR and Safe Systems. This year’s six TAG FinTech ADVANCE Award winners re...

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Category: Procurement CPO

Do You Fit the Profile of the Next Generation Procurement Executive?

In the last decade procurement operations have primarily focused on purchasing effectiveness: improving the skill sets of their staff, developing good negotiators, driving strategic sourcing activity, utilizing e-procurement tools to get deeper penetration and more control of spend (a center-led solution). Moving forward, we need to truly understand and grow with the business. Transactio...

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Category: News Awards

GoProcure Named Top 50 “Rising Star” Technology Company

ATLANTA, GA–October 10, 2017 — Venture Atlanta, the South’s premier technology innovation and investor conference, recently announced the 50 companies selected to present and showcase their wares at its 10th annual event to be held October 11-12 at the College Football Hall of Fame in Atlanta. Through the years, Venture Atlanta has earned a reputation for consistently identifying tomorro...

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Category: News Awards

GoProcure Named One of Georgia’s Top 40 Most Innovative Companies

ATLANTA, GA-February 15, 2017 -- The Technology Association of Georgia (TAG) today announced the Top 40 Most Innovative Technology Companies in Georgia. TAG’S Top 40 Awards recognize Georgia-based technology companies for their innovation, financial impact, and their efforts at spreading awareness of the state’s technology initiatives throughout the U.S. and globally. TAG’s Top 40 is spo...

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