Blog | Quantum

23Sep, 2021

Spend Analysis: What it is and Why You Need It

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Defined as the process of identifying, gathering, cleansing, grouping, categorizing and analyzing an organization’s spend data, spend analysis is accomplished with the goal of decreasing procurement costs and improving efficiencies...

23Sep, 2021

What is a Procurement Officer?

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Who is a Procurement Officer? What are the Duties of a Procurement Officer? Honestly, being a procurement officer isn’t an easy job. Because it is the procurement officer’s responsibility to...

11Sep, 2021

7-Step Sourcing Process

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7-Step Sourcing Process—Explained in Detail The sourcing process can be a complicated one. Strategic sourcing is an enterprise-wide process. It needs inputs from all departments and teams across the enterprise....

11Sep, 2021

Bargaining Power of Suppliers

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How does it affect your business and how can it be minimized? Knowingly or unknowingly, most procurement professionals are affected by the concept of the bargaining power of suppliers. Some...

25Aug, 2021

What are Vendor Management Role and Responsibilities

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What are Vendor Management Role and Responsibilities? A lot of hard work goes into vendor management, which makes it a crucial part of an enterprise’s success. Before we jump into...

25Aug, 2021

What is a Procurement Contract?

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What is a Procurement Contract? Types of Contracts in Procurement For project managers and procurement professionals, utilizing the right type of procurement contract can have a substantial influence on the...

16Feb, 2021

Supplier Relationship Management: Why it’s Important for Your Company

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In a nutshell, supplier relationship management is important because a long-term relationship between an organization and its suppliers allows for the free flow of feedback and ideas. Over time, this...

05Jan, 2021

Contracts Management: Why You Need It

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Contracts should be considered assets, and as such they can optimize an organization’s process to maximize the value they represent. The bottom line is this: There are few things all...

24Dec, 2020

A Well-Engineered Contracts Management Software System Can Save Money and Provide Real Value

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Regardless of the industry or niche a business/company may serve, contracts are a major component of daily operations. Created for business partnerships, labor, vendor transactions, customers and more, contracts almost...

11Nov, 2020

Diversity Spend Tracking: What is it?

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Diversity Spend Tracking: What is it and What are the Benefits? Diverse supplier spend refers to the amount of money an organization spends with diverse-owned businesses when purchasing products and...