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Two lessons from a 2016 Gala
LinkedIn
December 05, 2023
In 2016, I traveled to Colorado with my wife, Nada, as she attended an annual public health conference. Seizing the opportunity to enjoy some hiking in the beautiful Rocky Mountains.
Thoughts on Hiring And Delegation. The Caliber Ratio
LinkedIn
November 13, 2023
I recently had this realization about delegation, and came up with this framework.
Manual labor operates in the principle of "Addition", while cognitive and professional tasks work in "multiplication"
Hold on, don't give up on me yet. Let me explain.
Practices to Turn Cost Center into a Profit Center
Penny
July 25, 2023
Supply chains are a cost center in many companies, but can be turned into a profit center if some effective practices are applied. In this blog, we will address some methods that can be used to turn supply chains into a profit center and it was a pleasure discussion with Abdullah Al Tassan who has four decades of experience.
We recently realized that amongst our customers #CFOs are the ones that are mostly enthusiastic about Penny Software . I personally thought it would be procurement managers. It makes sense. Digitizing #procurement helps maximize #savings, enhance #efficiency, and gain #control. Outstanding #CFOs understand that #procurement is not a cost center. It's a "saving partner" and the backbone of the organization.
Saving Big in The Freight Business with Digital Procurement.
Penny
February 21, 2023
Established in 1940 with a single shop selling everyday items, YK Almoayyed has grown into one of the most successful and fully diversified commercial organizations in the GCC, with operations across the region. Employing over 8,000 people, the company delivers products and services in key industry sectors, including automotive, construction, heavy equipment, electronics, home appliances, and luxury goods
Take Control of your Spending
Penny
February 12, 2023
Spending, spending, spending. That is all many businesses seem to do and their commercial success will depend heavily on how they manage their operational spending and procurement process. Subsequently, taking control of spending and having visibility is essential. Otherwise, you’ll lose track of what you have spent money on, who you have spent with, and whether you are getting value for money.
Making your Cost Efficiencies Effective
Penny
February 05, 2023
We all work hard to give our businesses the best chance of achieving commercial success by generating as much revenue as we can to increase our company’s bottom line. But it’s not just growing revenues that can give your bottom line an uplift.
Procurement vs Purchasing: Don’t get the two Ps mixed up
Penny
January 29, 2023
Procurement and purchasing, both starting with 'P', are often used interchangeably in business. However, procurement is a strategic approach to sourcing and supplier management, considering quality, cost, and risk. In contrast, purchasing is transactional, focusing solely on the buying process. Understanding the distinction is vital as one is transactional, while the other prioritizes long-term business interests.
Say Goodbye to The Spot Buy
Penny
January 22, 2023
Many companies – particularly those that are young and need to respond quickly to events – rely on being able to make small spot purchases. Spot buy can be necessary when emergencies happen, when the value of a purchase is considered too small to warrant procurement or when unexpected project costs demand immediate action. Indeed, spot buying can be part and parcel of operational agility.
General Ledger Accounting – Everything You Need to Know
Penny
January 17, 2023
Making sense of how your company is performing and whether it is heading towards success or failure rests on good General Ledger Accounting. The good news is that with the acceleration of the digital economy and maintaining the perfect ledger is easier than ever.
The Pros and Cons of Centralized Purchasing
Penny
January 05, 2023
For many companies, centralized purchasing can save time, money, and manpower. But, for others, it risks becoming a bottleneck and a hindrance to productivity. So, what’s the solution?
Unpacking The Three R’s of Procurement
Penny
December 27, 2022
The procurement of goods, services, and information can be a full-time job and – for the uninitiated – potentially confusing. The use of different acronyms doesn’t help.
Get a Grip on Tail Spend and Get a Grip on Costs
Penny
December 26, 2022
For less formal procurement functions, tail spend – or ‘indirect spend’ – can become a long-term problem that is hard to identify. But what is tail spend, and how can it be tackled?
Grow up with Category Management
Penny
November 06, 2022
Building a business presents growing pains, but category management can simplify the process. As teams expand, tracking purchases and expenses becomes complex. Handing over purchasing responsibilities is challenging but essential for growth. Category management procurement is crucial as purchasing categories and decision-making complexities increase.
Ditch The Calculator – Spend Analysis Belongs in The Board Room
Penny
October 27, 2022
Spend analysis is crucial for sustainable growth beyond just cutting costs. Often overlooked by small to medium businesses, it's essential for strategic boardroom decisions, especially in today's uncertain economy. Rising costs make spend analysis vital for informed corporate choices, aiding in contract compliance, efficient cycles, and intelligent sourcing. Here's how to begin.
It’s Time to Embrace The Purchase Order
Penny
October 20, 2022
Purchase orders are essential for businesses to ensure timely payments and enhance efficiency. UK data reveals 13% of invoices remain unpaid annually, while 48% of US small business invoices face delays. This impacts SMEs globally, leading to working capital shortages and increased financial risks. The core issue? Absence of purchase order numbers.
Procurement Terminology – Unpacked and Explained (and how to survive in the digital economy)
Penny
October 12, 2022
Growing businesses often overlook evolving procurement terminologies essential for digital transformation. Adapting to these terms can unlock significant procurement benefits. Modern solutions aim to streamline operations and reduce costs. It's crucial to distinguish between frequently confused acronyms: P2P, R2R, and Q2C.
Common Healthcare Procurement Problems & How to Solve Them
Penny
August 26, 2022
Technology has revolutionized healthcare, enabling online consultations and advanced surgeries. While celebrating these advancements, common healthcare procurement issues have been overlooked. Addressing and understanding these challenges is the focus of this article
Hospital Procurement: Essentials You Need to Know
Penny
August 23, 2022
Amidst the uncertainties in healthcare procurement, experts advocate for modern technology to enhance supply chain solutions. E-procurement, successful in industrial and retail sectors, optimizes supplier management and sourcing. Yet, questions remain about its impact on hospital procurement, which this article aims to address.
Why Suppliers and Buyers Need E-Sourcing
Penny
August 20, 2022
While eSourcing advantages are clear to buyers, suppliers often fear automation biases towards buyers. Contrarily, eSourcing offers dynamic feedback and fosters strategic collaboration, benefiting both sides. This article highlights five ways eSourcing is advantageous for both parties.
Why Real Estate Needs E-procurement
Penny
August 17, 2022
Many real estate businesses hesitate to embrace e-procurement due to concerns about accuracy, costs, and deal complexities. Yet, a deeper dive reveals numerous advantages of e-procurement in the industry. This article aims to shed light on these benefits for real estate professionals.
Why Use Procure-To-Pay (P2P)?
Penny
August 16, 2022
For all businesses, understanding the procure-to-pay process and its automation is crucial. From ordering to payment, tracking transaction status should be seamless. This article delves into the procure-to-pay continuum, its significance, and the advantages of digital software in the process.
How Does E-Sourcing Work in the Supply Chain
Penny
August 13, 2022
Studying the supply chain involves analyzing the complete procedure, with procurement being a small part. Effective collaboration with suppliers and stakeholders is vital for timely product acquisition. E-sourcing plays a pivotal role in sourcing optimal materials. This article explores how e-sourcing enhances the supply chain process.
3 Steps to Optimize Your E-Procurement Process
Penny
August 10, 2022
Modern technology has advanced procurement, but e-procurement setup still requires strategic planning. Inexperienced managers with flawed strategies can amplify risks. Incorrect e-procurement methods can result in data errors, supply shortages, and unfit vendors. This article highlights three key changes to streamline the e-procurement process.
What Is The Impact of an E-Marketplace on Procurement Processes
Penny
July 26, 2022
Maintaining cost-effectiveness while expanding is a daily challenge for businesses. With changing consumer software purchasing habits, companies are moving away from traditional annual procurement cycles, ready to adopt automated solutions as needed. E-Marketplaces are pivotal platforms driving this change. This article delves into the role of e-marketplaces in modern procurement.
Anecdotes are helpful in delivering one’s point. But one must use them delicately. An excessive use of anecdotes could be very distracting from the intended message.
While this seems obvious in verbal communication, I noticed that book authors often commit this classic mistake.
Inaugural member of the Saudi Leadership Society
and the Misk 2030 Leaders Program - two
exclusive initiatives that were launched by the
Mohammed Bin Salman Foundation (Misk), in
association with global academic and business
partners, to leverage the skillet, experience and
legacy of select Saudi leaders towards realizing the
national transformation efforts of the Kingdom's
Vision 2030.
Founded in 2012 by former entrepreneurs and McKinsey alums; Careem was earmarked as one of the hottest startups in the Middle East. With 30% monthly growth, we are one of the fastest growing companies in the region, operational in more than 50 cities from Morocco to Pakistan.
penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQ/RFP, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.
PasuTech LLC DBA Fairshop is an Ecommerce company focusing on home improvement products. The company differentiates itself by its unique algorithm and state of the art technology structure that allows it to operate in an efficient and scalable way. Fairshop works with over 120 warehouses in 29 states and serves customers through multiple channels of sales.
Penny Software - ProcureTech100
Penny
July 01, 2023
The ProcureTech100 identifies and champions the 100 pioneering digital procurement technology, data and analytics solutions that are supercharging procurement and the enterprise.
The ProcureTech100 are the pioneers that are inspiring and driving procurement digital transformation. Pioneers that are customer centric, innovative, high growth and making a social impact. Pioneers that are agile and scalable, with teams dedicated to creating an impact that matters.
Selected from over 4,000 digital solutions from across the planet, using enriched proprietary data and analysis, combined with the collective experience of over 70 procurement leaders, technology experts and B2B investors.
Calling all Procurement Leaders! Join us for a State-of-the-art Procurement Program in MENA! We are thrilled to announce the upcoming launch of the much-awaited Second Procurement Edition in Dubai!
After the resounding success of our inaugural event, we are back with an even more enriching and insightful experience tailored to meet your procurement needs. Join us for a day of networking, knowledge-sharing, and industry expertise as we delve deeper into the world of procurement excellence.
Date: 15th November, 2023
Time: 8:30 AM
Venue: The H Dubai, UAE
What to Expect:
Keynote presentations by industry thought leaders
Interactive panel discussions on the latest procurement trends
Exclusive insights into the evolving procurement landscape in Dubai
Opportunities to connect with fellow procurement professionals and expand your network
Unveiling of the Second Procurement Edition and its exciting features
Don't miss out on this golden opportunity to enhance your procurement knowledge, gain actionable insights, and connect with like-minded professionals.
اقتصاديات الوحدة للشركات الناشئة
Penny
April 04, 2023
في هذه الحلقة من بودكاست في الريادة ناقشنا طريقة قياس و تحليل الاداء المالي لمنشأتك عن طريق اقتصاديات الوحدة.
ضيفنا أ.اياد الدعلوج، الرئيس التنفيذي لشركة "بني" و مدير عام سابقًا لشركة كريم، شرح بشكل مفصل مفهوم اقتصاديات الوحدة وطريقة تطبيقاتها حسب نموذج العمل. تطرقنا كذلك الى أهمية هذه المؤشرات من وجهة نظر المؤسسين و المستثمرين وكيفية تأثيرها على الجولات الاستثمارية
Penny Software & Supply chain and Procurement Society Roundtable in Riyadh
Penny
September 05, 2023
We had the privilege of hosting the Penny Software & Supply chain and Procurement Society Roundtable in Riyadh, hashtag#Saudi_Arabia. The event was a huge success, bringing together leaders from various organizations across both the public and private sectors. We had a fantastic time networking and learning from some of the best in the business. Thank you to all who attended and made it such a valuable, experience.
If you want to learn how digitizing #procurement can help you maximize efficiency and saving, book a free consultation call with a #digitalprocurement expert at Penny.co
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Two lessons from a 2016 Gala
Thoughts on Hiring And Delegation. The Caliber Ratio
Practices to Turn Cost Center into a Profit Center
Saving Big in The Freight Business with Digital Procurement.
Take Control of your Spending
Making your Cost Efficiencies Effective
Procurement vs Purchasing: Don’t get the two Ps mixed up
Say Goodbye to The Spot Buy
General Ledger Accounting – Everything You Need to Know
The Pros and Cons of Centralized Purchasing
Unpacking The Three R’s of Procurement
Get a Grip on Tail Spend and Get a Grip on Costs
Grow up with Category Management
Ditch The Calculator – Spend Analysis Belongs in The Board Room
It’s Time to Embrace The Purchase Order
Procurement Terminology – Unpacked and Explained (and how to survive in the digital economy)
Common Healthcare Procurement Problems & How to Solve Them
Hospital Procurement: Essentials You Need to Know
Why Suppliers and Buyers Need E-Sourcing
Why Real Estate Needs E-procurement
Why Use Procure-To-Pay (P2P)?
How Does E-Sourcing Work in the Supply Chain
3 Steps to Optimize Your E-Procurement Process
What Is The Impact of an E-Marketplace on Procurement Processes
100 CPO Summit 2023
Jordan Start-up Expo
The team at Penny
Penny Software - New Video
