In today’s volatile business landscape, supplier risk isn’t just a procurement issue—it’s a strategic concern that affects the entire enterprise. Disruptions in the supply chain, financial instability, quality problems, and reputational damage can emerge quickly, often with little warning. Unfortunately, many organizations don’t identify these threats until they’re too late…
Organizations across industries increasingly recognize the value of strict contract compliance in procurement. Ensuring suppliers adhere to agreed terms for goods and services is not just a legal formality – it delivers measurable business advantages. Below, we outline key horizontal outcomes of supplier contract compliance, with a focus on metrics such as cost savings, risk reduction, efficiency gains, cash flow improvements, audit readiness, rebate capture, and vendor performance.
Effective supplier onboarding is pivotal for organizations seeking to optimize their supply chains and maintain a competitive advantage. Companies can enhance their onboarding processes by addressing common challenges and implementing best practices. Leveraging advanced solutions like ServiceNow’s AI-driven Supplier Lifecycle Operations further streamlines these processes, ensuring rapid, accurate, and value-adding supplier integration.
Several people have asked ODS for our opinion on the recent announcement: ServiceNow Acquires Logik.ai and whether it creates overlapping functionalities with or enhances existing Source-to-Pay (S2P) capabilities.
Did you know that unmanaged tail spend can account for up to 20% of a company’s total procurement expenditures, yet involve 80% of the suppliers and transactions? This reverse distribution leads to high administrative costs relative to the value of the purchases.
Traditional RFx processes are slow and error-prone—but they don’t have to be. Discover how ServiceNow’s AI-optimized workflows help procurement teams accelerate RFx processes, reduce admin work, and make faster, smarter sourcing decisions.
Let AI support your supplier negotiation strategies with real-time supplier insights, market benchmarks, and risk indicators. Build stronger positions and drive better commercial outcomes.
Are you leaving negotiated savings on the table?
Missed rebates, unused volume discounts, and forgotten supplier incentives are common, especially when contract terms are buried in PDFs or scattered across emails. These missed opportunities are more than an annoyance—they represent real dollars lost.
For procurement leaders, cost optimization is a top priority, yet many organizations still rely on traditional category management approaches that are reactive, inefficient, and fragmented.
This article discusses some of the challenges teams face around supplier compliance and how ServiceNow can automate and optimize supplier compliance management
Centralizing contract terms can facilitate smoother operations and better profitability by reducing variances, monitoring for price increases, and optimizing for cost efficiency.
Price benchmarking is emerging as one of the most effective tools for ensuring organizations secure optimal pricing. By comparing supplier prices and leveraging real-time analytics, procurement professionals can confidently align spend with organizational goals—and avoid overpaying by as much as 20%.
Supply Base Operations (SBO) is a strategic approach to refining supplier relationships to boost efficiency, reduce costs, and enhance overall performance. For organizations leveraging the ServiceNow Source-to-Pay suite, SBO represents a powerful enhancement that unlocks significant value.
Managing inventory is a delicate balancing act. Too little inventory can disrupt operations and lead to stockouts, while excess stock ties up capital, increases holding costs, and eventually becomes a financial burden.
In today’s fast-paced business environment, efficiency isn’t just a luxury—it’s a necessity. ServiceNow is a great way to streamline request to delivery to reduce lead times, lower costs, and eliminate overhead.
Transform the way you handle Category Management with ServiceNow Source-to-Pay. Discover actionable insights and innovative solutions to make your procurement strategy a competitive advantage.
Better asset management is essential for operational excellence and cost-effectiveness, starting with employee requests and tracking them across their lifecycle
Effective cost management is crucial for every successful business. It ensures resources are utilized wisely, budgets are adhered to, and financial goals are achieved. One of the biggest challenges for running IT like a business has been assigning the cost of IT to the consumers of IT.
In today’s fast-paced IT environment, effectively managing hardware refresh cycles is crucial for optimizing operational performance.
Maverick spend arises when employees bypass standard procurement channels, often due to two key issues:
Complex Processes: Employees find traditional systems cumbersome and time-consuming for simple orders.
Urgency: Employees make out-of-process purchases to meet immediate needs.
