Archive for February, 2023

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All costs can be controlled. YOU ARE OVERPAYING!

Friday, February 10th, 2023

 

Dave Wenig is the Senior Vice President of Sales and Services at SafeSourcing Inc

If you talk with some executives or purchasers, they will tell you that now is not the time to work on controlling costs. Interestingly, some of those folks have now been saying that for years. Let me tell you a little secret – they are wrong. That opinion is costing their organization a fortune.

I do not intend to tell you all the categories for which we are still out here reducing costs, but I will tell you a few. The truth is, there are ways to control your costs that go beyond just reducing costs. Controlling costs can be just as effective.

These are a few of the dozens of areas where we are still consistently reducing costs:

  1. Paper Coffee Cups
  2. Waste Removal
  3. Equipment Rentals
  4. Plastic Cutlery
  5. Labels
  6. Print Fulfilment
  7. Bottled Water
  8. Retail Displays

As I said, cost reduction is not the only way to control costs. Other overlooked areas where an RFP or RFQ process can improve your cost control capabilities exist too. If you want to learn how other are using index language, multiple vendor awards, and other tactics to better protect their organizations against cost increase, let us know and we can focus on that next.

For more information, please contact SafeSourcing.

 

 

 

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So, what’s on your procurement roadmap this year?

Thursday, February 9th, 2023

 

Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc

I was just reading a post from my friend Jason Busch at Spend Matters on LinkedIn. He was discussing investment in our space #procurement which always seems to draw interest from the investment community both Private Equity and Venture Capital.

A quote from Jason caught my attention, as it is what we do and what we have done at SafeSourcing for years. “Reframe (or extend) your value proposition to cost take out and cost reduction. Historically these solutions did fine in past recessions. Hard dollar savings never go out of style.  Even some carbon solutions can be reframed this way”! Jason also went on to say to “Consider services and solutions “surrounds” to improve the numbers if you’re not already nailing your plan”.

Isn’t it funny that the bottom-line basics of procurement are what they always have been, provide services (ours are white glove) and solutions that reduce costs, improve profits and earnings amongst other related deliverables.

SafeSourcing is a Procure to Pay SaaS based provider of a number of e-Procurement solutions and associated white glove services that are part of our SaaS offered SafeSourceIt™ eSourcing suite. These include but are not limited to SafeContract™, SafePO™, SafeDocument™ and our SafeSourceIt™ Global Supplier Database that includes over 557,000 vendor/suppliers.

For more information, please contact a SafeSourcing Customer Services Associate.

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Electronic Invoice Presentment and Payment or EIPP

Wednesday, February 8th, 2023

 

Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc.

Paying invoices electronically  has been SOP (a thing given or done as a concession of no great value to appease someone whose main concerns or demands are not being met) for years, yet many companies continue to insist on paying their invoices with physical checks and snail mail trying to buy a few extra days of cash preservation. Often the response is that electronic payments are too expensive. Anyone with a browser can find out that this is malarky or meaningless talk or nonsense.

EIPP is short for Electronic Invoice Presentment and Payment. This is a B2B system of issuing invoices to customers over the internet and receiving payment on the invoices electronically. This can be accomplished in a Biller-Direct model, where payment is received directly via the biller’s website, or Bank-Aggregator, where a banking institution acts as the payment distributor to all of the receiving businesses.

Help your vendors by paying your bills electronically and on time.

If you would like to learn more about our daily posts or other SafeSourcing free tools like our SafeSourcing Wiki, please contact a SafeSourcing customers services associate.

 

 

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With WFH, Do these measure still Motivate Employees?

Tuesday, February 7th, 2023

 

Today’s re-post is by Gayl Southard, VP of Administration at SafeSourcing.

Traditional methods of motivating employees is all very familiar within organizations: good compensation and bonuses for targets achieved, praising teams’ performances, encouraging joint decision  making, and leading by example are all second nature to many business people.  As time and business evolve so must the ways we try to get the best from employees.  Listed below are five ways to motivate employees.

    1. Help Employees Understand the “Why”. When a new employee is added to your organization, make sure they are aware their role is vital. Explain exactly why they are doing their job and what they are out to achieve in making clients and customers’ lives easier. Give employees a purpose. A self-motivated employee is more personally accountable for their objective.
    2. Acknowledge all Progress Made. It is imperative for employees to feel like they are accomplishing something and their work makes a difference. Make sure to acknowledge progress is being made rather than a target not being hit. It is demotivating if a specific target has not been hit and giving up at that point is detrimental to future success. If employees receive recognition for whatever they do in the right direction, it will inspire them to work harder to exceed their objectives.
    3. Provide Career Development.Encourage employees to develop their skills, as well as the role within the organization. Opening job vacancies to existing staff will increase motivation and entice them to invest more in the organization.
    4. Encourage Work-Life Balance. Modern workplace puts emphasis on the importance of a balanced work-life. A happy employee is a motivated employee – develop fun and leisure activities in your organizations, such as celebrating birthdays, graduations, first-home purchases, as well as other significant milestones.
    5. Know Employees as Individuals. It is wise for Directors and team leaders to invest time in developing a good rapport with their employees. Every individual – even when doing the same job has a unique skill set and work style. Having an open-door policy so people feel you are accessible and open to their views makes them feel appreciated.

Safesourcing is motivated to help you achieve your business goals! For more information on how we can help you with your procurement needs or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.

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Executive Insight, Omar Hosari, 12/15/15

 

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Can We Collaborate?

Thursday, February 2nd, 2023

 

Today’s blog is by Margaret Stewart, Director of HR, and Administration at SafeSourcing Inc.

You have probably heard that phrase so many times, you might not even recall the first time you heard it. The reason it is such a popular phrase is because it has remained true and helpful throughout. Even during early school years, we are taught how to work with others to accomplish some task – because it is such an important skill and helps to accomplish goals throughout life.

In our current climate, it is still important to be able to work together. We work within our organizations and use the skills of those strongest in certain fields to help the group as a whole. In fact, we do this so much that we choose people based on their strengths and their ability to fulfil the organization’s needs – making a hundred heads better than one.

Sometimes the need extends further than within an organization. This is where collaborating with another organization can help! In fact, this is something SafeSourcing does quite often. Let us say you need to source, as an example, plastic bags. Perhaps you do not buy enough to get much of a discount. Here we can collaborate. With a SafeSourcing collaboration, your plastic bag quantities and other organizations’ quantities combined can expand the resources available to you and could get you a more competitive price.

If you are not sure if collaboration is right for you, you can still collaborate with SafeSourcing to help you get the services or supplies you need from the vendors that can help you the best. SafeSourcing has the expertise that can help strengthen whatever project you are set to undergo.

For more information on what the SafeSourcing team can offer you, or on our Risk-Free trial program, please contact a SafeSourcing Customer Service representative. We have an entire team ready to assist you today.

References:

  1. http://safesourcing.com/ContactUs/tabid/60/language/en-US/Default.aspx
  2. https://www.zippia.com/advice/home-improvement-industry-statistics/

 

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