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Procurify Blog

Month: February 2018

A New Leader’s Guide to Efficient Budget Management

Dani Hao Dani Hao

Effective and efficient budget management is the cornerstone of a successful business operation. It is close to personal financial management, but more complicated due to the size, structure, and short and long-term objectives. It requires planning, commitment and discipline to the plan. It consists of planning and implementation that provides…

February 27, 2018

A Procurement Veteran From Nestle Is Changing The Way Charter Schools Are Run

Nitant Narang Nitant Narang

In 2013, Damon Norris — a seasoned business leader who, in various capacities, worked at a string of Fortune 500 companies — took a decision that would take his career into places he had never imagined. Until that year, Damon had held a high-ranking, not to mention lucrative, position at…

February 21, 2018

How to Implement an Expense Management Process to Save Costs and Prevent Overspending

Dani Hao Dani Hao

In the course of official company assignments, employees may incur some expenses that must be charged to the company’s account. However, although these decisions were made from the employee’s end, there are ways to strategically manage these expenses proactively to save costs while still providing employees with the ability to…

February 16, 2018

How to Create an Effective Vendor Management Process

Dani Hao Dani Hao

A key stakeholder in any successful business is the vendors they work with, which takes a lot of care and consideration to make sure that the company is maximizing the value they are getting out of the relationship with the vendor.

February 13, 2018

All You Need to Know About Accounts Payable

Dani Hao Dani Hao

This comprehensive article will cover what is accounts payable as a whole, including its role in accrual accounting systems, how to create accounts payable and to facilitate a good audit trail, and will also explore the pros and cons of having a cash vs accrual-based accounting system.

February 6, 2018