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Ways to Measure Procurement Profit and Loss for your Business

Measuring Procurement Profit and Loss: A 2025 Guide for Business Leaders

Procurement is no longer just about purchasing—it’s a strategic driver of financial performance. One of the most important ways to prove procurement’s value is by measuring procurement profit and loss (P&L). By linking procurement activities directly to balance sheets and income statements, businesses can demonstrate procurement’s impact on profitability, efficiency, and resilience. This article outlines […]

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Why Maintaining Supplier Relationship Management is Important?

Supplier Management / By Zycus

In this article, you’ll learn about why maintaining supplier relationship management is important to your procurement function. Why Organizations Rely on Supplier Relationship Management? In a volatile business environment, to increase the competency and add new competitive advantages, organizations rely on supplier relationship management. Having a healthy relationship with the suppliers, helps organization receive better

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These 5 Contract Management Best Practices can do Wonders!

Contract Management / By Zycus

What is Contract Management? Contract Management refers to the systematic administration of contracts made with various parties, including employees, customers, partners, and vendors. This process is crucial for ensuring that all contractual agreements are adhered to and managed effectively. The individual responsible for overseeing contract management is known as a Contract Manager. This role involves

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You Sure Didn’t Realize these Benefits of Strategic Sourcing

Procurement Technology / By Zycus

In this article, you will learn about the various benefits of strategic sourcing and why it is worth any investment for emerging organizations. We’ll discuss an overview of ‘Strategic decision making on future sourcing projects.’ Strategic sourcing helps enterprises identify, evaluate, negotiate, and implement the optimal mix of goods and services. The Sourcing Cycle Today,

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3 Steps to Reducing Spend Through Procurement – BFSI perspective

Procurement Technology, Spend Analysis, Strategic Sourcing / By Zycus

Although the economic environment is more benign than at this time last year and there are signs of recovery, banks and financial services firms are still facing uncertainty. Slow economic growth coupled with new banking regulations on the horizon — such as Basel III, which will require banks and financial services firms to hold more

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This is What Happens When you Implement Spend Analysis

Spend Analysis / By Zycus

For long, we have wondered how to harness spend for analytics that can improve business performance. Now Spend Analysis is the answer with procurement evolving every day. It is because of such technological evolution; procurement could transform its image from being a transaction to more strategic. The transformation not only helped the delivery of value

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Procurement in a Galaxy very very near you: How Yoda’s teachings apply to your procurement processes. (Part 4)

Procurement Technology, Spend Analysis / By Zycus

“Size matters not. Look at me. Judge me by my size do you?”―Yoda to Luke (The Empire Strikes Back) As Yoda talks about the substance and not the size that matters, it holds for your spend solution needs as well. In the Procurement Galaxy: Vendors might sell you their heavy weight solutions capable of doing

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Procurement in a Galaxy very very near you: How Yoda’s teachings apply to your procurement processes. (Part 3)

Supplier Management / By Zycus

“Faith in your new apprentice, misplaced may be, as is your faith in the dark side of the Force.”―Yoda to Palpatine (Revenge of the Sith) It’s the duel between the Jedi Master (Master Yoda) and the Sith Lord (Darth Sidious) when the Sith Lord tells that Yoda would see the real power of the dark

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