Tag Archives: infographic

Traditional vs Automated Procurement Process

Got major procurement issues in your organisation? You may well be able to use technology and automated procurement to solve them.

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The procurement process is much more complex than it looks. The more complex it is, the higher the number of issues. An automated procurement process can help you prevent and resolve these issues. However, many companies still rely on a manual process. 

Let’s understand the challenges of the traditional procurement process and the ways automation can help.

Challenges of Traditional Procurement Process

A company practicing traditional procurement process faces a lot of challenges. Here are some of the major challenges of a traditional approach:

1. It’s Time Consuming

A traditional procurement process consumes a lot of time of both vendors and companies. As a result, it slows down the entire process and affects productivity. In addition to this, it can take days to communicate a single message and get the job done.

2. Chances of Duplication and Fraud

In a traditional procurement process, everything happens on paper so it becomes difficult for your team to keep track of everything. That’s why there’s little to no transparency in the dealings. This can lead to malpractice such as duplication of contracts or fraud. A single incident of fraud can affect your company’s reputation. 

3. Inefficient Data Management

An offline procurement process involves a lot of paperwork, so data management becomes challenging. In addition to that, it also increases the risk of errors. In spite of this, 54% of companies are still using a paper-based invoice process. 

Paper-based records are always vulnerable to tampering or loss of information and data. This can put your company in a troublesome position.

Benefits of Using Automated Procurement Process

Here are some important benefits of using an automated procurement process: 

1. Improves Efficiency and Speed of Procurement Process

By automating your procurement process, you can not only speed up the process but also increase efficiency. This helps your procurement team by saving a lot of their time for other important tasks.  

With an automated process, you can automate all the repetitive tasks. This helps you cut down on the amount of manual work for your team. It allows them to handle much more important and complex tasks. 

2. Creates a Centralised System

As mentioned above, a traditional procurement process can lead to duplication and fraud in contracts. For any company, there’s nothing scarier than this.

However, automation can help you minimize instances of duplication and fraud. It helps you create a centralized system for all of your data and documents. This allows your procurement team to easily track down the required documents.

3. Reduce Manual Errors

Unlike a traditional approach, automation eliminates paper-based documentation and decreases the risk of errors. When you follow a traditional approach, it not only consumes a lot of time but also invites risk.

So, it’s best to automate your procurement process and encourage a paperless process to reduce manual errors. It also allows you to store information and data easily and safely.

Do you want to learn more about issues in the procurement process and how automation can help you fix them? If so, check out this infographic from PurchaseControl.

Major Procurement Issues & How to Fix Them with Technology

Image courtesy: PurchaseControl

‘Tis The Season To Waste Lots Of Food….

An estimated 1/3 of the world’s food is wasted along the supply and consumption chain from farm to kitchen. What can you do to help this Christmas?

NaturalBox/Shutterstock.com

This morning you may have discovered your milk was spoiled and tossed it in the garbage before trying to find something else to eat. Maybe you didn’t finish your whole breakfast and that went in the trash, too.

You’re not alone. An estimated 1/3 of the world’s food is wasted along the supply and consumption chain from farm to kitchen. How much does that add up to? A lot!

And with Christmas just around the corner and an estimated  £64 million’s worth of food set to be wasted in the UK alone, it’s the perfect time to start reducing some of that waste!

There are a lot of programs helping to combat food waste this Christmas. Some supermarkets have started to offer items past its best before date at a reduced rate and are providing food for those most in need. There are also a number of  steps you can take to help in your home as well.

How Much Food Do Humans Waste?

Via: InvestmentZen.com

Read more on food waste and sustainability in our articles on Earth Day and supply chain regulations.

Infographic: Nailing Your Next Presentation

Want to grab your audience’s attention with the first sentence of your presentation and keep them intrigued throughout? These presentation do’s and don’ts will have you presenting like a pro in no time!

Some people jump at the chance to present, while the very thought of getting up in front of an audience can make many of us feel weak at the knees. One thing is certain – no matter how junior your role may be, you will have to deliver a presentation at some point in your career.

Here’s how you can nail it.

There are two crucial elements to making a great presentation. The first is what you say and the second is how you say it.

If you have great content, your presentation has an excellent basis for success.  As a presenter, it will give you confidence to ace the delivery, but there are still some important points to remember.

This infographic was originally published on Walkerstone.com. 

Everything You Need To Know About Bitcoin In One Super Infographic

 The precise workings of Bitcoin are still a mystery to many but here’s everything you need to know about the rise of the digital currency. 

 

Bitcoin is a digital currency which uses peer-to-peer technology. It doesn’t require a bank for making online transactions worldwide and is also known as the first cryptocurrency that does not use central repositories. As such, it’s classified as a decentralised currency by the U.S. treasury.

The currency was first introduced in 2008 to a cryptographic mailing list. On 9th January 2009, the first version (1.0) of Bitcoin was released and on 12th January, the first transaction took place.

Presently, Bitcoin prices are climbing and there’s a whole host of significant, and widespread, clients. Pennsylvania was the first state in U.S. to  accept Bitcoins back in 2013.

UK bank, Barclays, have revealed that they will be the first to facilitate  users in making charitable donations using the currency outside their system.

Total Processing has created an infographic to explain The Rise and Rise of Bitcoin since 2008.

Toby Dean works on behalf of Total Processing in content creation and marketing. He creates engaging graphics and content that help businesses stand out from the crowd. Over the past seven years has worked with dozens of SME’s in both an agency and freelance capacity.