Tags: procurement

BioProcure is Not Your Typical Office Job

BioProcure is Not Your Typical Office Job

BioProcure is a strategic sourcing and procurement services firm. We assist emerging biotech research organizations and the venture capital firms funding them with lab procuring, data entry, and purchase matching. Our only job is to focus on procurement and front-end AP for our clients and helping them grow and succeed is what we like best! […]

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Procurement vs. Purchasing – What’s the Difference?

Procurement vs. Purchasing – What’s the Difference?

Although the words are used interchangeably more often than not, procurement and purchasing are not synonymous. First, let’s take a look at their definitions: Procurement: The act of obtaining or buying goods and services. The process includes preparation and processing of a demand as well as the end receipt and approval of payment. (Source: BusinessDictionary) […]

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Tips To Understand Procurement Spend

Tips To Understand Procurement Spend

In order to efficiently manage your procurement, the first step is to understand your purchase spend, which is much easier said than done, especially without a dedicated procurement team. Below are tips to get you started with your procurement spend analysis. Identify Sources Before you can begin to collect data to analyze your procurement spend, […]

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Why Hire Procurement Services

Why Hire Procurement Services

Companies small and large make the business decision to hire firms to do procurement services for them. Good procurement strategies are often what sets apart profitable companies from struggling ones. Procurement requires a unique level of knowledge on market trends, cost saving, and compliance. A strong procurement outsourcer can leverage its expertise and relationships to […]

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Automation in Procurement

Automation in Procurement

This is a guest blog by Paul Giese. Paul is the founder of intheBlk software, a firm that specializes in long-range planning and ASC606 revenue recognition for biotech organizations. When he isn’t working on financial models, Paul enjoys spending time with his wife and one-year-old son. You can find more thoughts by Paul on Twitter […]

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Accounts Payable for Non-Accountants

Accounts Payable for Non-Accountants

Accounts payable is a term that we must understand in order to be effective procurement professionals, and that all executive team members must understand in order to successfully run a business. In simple terms, accounts payable is a record of what the company owes in terms of payments owed to others, such as suppliers and […]

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Everything You Need to Know About E-Procurement

Everything You Need to Know About E-Procurement

In a time when the world lives online, people have begun to utilize virtual communication in both their personal and professional lives. Communication isn’t limited to video conference calls or emails with family and friends though. In fact, communication between suppliers and customers is a topic more businesses are showing interest in. This online communication […]

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