Kraft Heinz Fined $62M for Accounting Fraud
The SEC says the company's procurement division improperly recorded nearly 300 transactions to deliver unrealistic cost savings and inflate profits.
Tipalti Buys Approve.com to Boost AP Automation
Tipalti said the deal would enable it to offer automation of the entire accounts payable cycle from procurement through to payment.
Hire a Chief Procurement Officer – You Can’t Afford Not To
The modern chief procurement officer does a lot more than just “buy things” and sign contracts.
DOJ Plans Heightened Scrutiny of Government Contractors
The new "Procurement Collusion Strike Force" aims to root out antitrust crimes like bid-rigging and price-fixing in the procurement of government contracts.
Why Procurement Savings Get Lost in Translation
Create a "closed-loop" system so that business unit leaders don't eat up all the savings before corporate leaders can decide what to do with the gains.
Kraft Heinz to Restate Results for Nearly 3 Years
The company says employee misconduct resulted in the cost of products sold being understated by $181 million.
Procurement Lacks Tech Prowess
Few procurement organizations are applying digital technologies anywhere near optimally, and in fact many are actually regressing, Deloitte report suggests.
Robotic Process Automation — Changing the Finance Landscape
New robotic software will enable automation across a spectrum of processes and will work across different software platforms and systems.
SciQuest to Be Taken Private
Six years after going public, SciQuest sells to private equity firm Accel-KKR for $509 million.
Focus on Cash, Not Costs, in the Supply Chain
Free up cash flow by cutting excess days of supply and optimizing supplier relationships.
Delaying Supplier Payments Isn’t Always Smart
If you can process the invoice quickly, it may be better to take advantage of early-payment discounts.