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Dubbed Trust Your Supplier, the blockchain network enables businesses to more efficiently validate and onboard their vendors while maintaining a secureaudit trail of buyer-supplier interactions down the supply chain, reports in ZDNet said Monday (Aug.
Key Strategies for Effective Spend Management Below are proven strategies for CFOs to enhance spend management, complemented by our firsthand experiences of supporting businesses with these approaches. Before proceeding, we conducted a 6-month historical audit and uncovered $250,000 in billing errors from the supplier.
Then, there are events like the Target breach, a security lapse rooted at one of the retailer’s suppliers, that resulted in millions of dollars in costs to the company. Earlier this month, FICO revealed plans to roll out a new kind of score: the Enterprise Security Score.
Supplier management is an increasingly important part of the AP process, though can be more difficult to automate. New automation capabilities from procure-to-pay solution provider Zycus aim to support a streamlined vendormanagement process, including contract management.
An India-based startup helping businesses better manage their suppliers has raised new funding from investors. Reports on Wednesday (July 13) revealed SirionLabs secured $12.25 SirionLabs provides multinational companies with a way to manage and analyze supplier contracts and provide auditing and other solutions with the information.
There are security costs, theft risk, tracking of how cash is used, vendormanagement, the lack of payroll infrastructure in place, the 10+ percent premium charged for paying taxes with cash, cash courier services and the sheer amount of time required day in and out to manage the flow of paper bills.
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