Can Savings Shift Their Shape? In today’s highly digital world, chances are pretty good that you have at some point been impacted by or actively participated in a software implementation or update. Acquiring new software or making upgrades can certainly rack up the savings, but it can also create the opportunity for savings to turn into hidden costs if the company is not careful in how they approach the changes.
There are three primary types of software that we will explore in this article: Source-to-Pay, Contractor Management Solutions, and Vendor Management Solutions. Knowing what each type is designed to support and how to properly incorporate them into your software network can empower you to make strategic decisions that establish a lasting legacy of success for your company, and it all starts with remembering the basics.
Managing a global contractor program in an asset-intensive industry comes with a high degree of complexity and is regularly impacted by outside forces that affect how business is conducted. As companies in these industries are looking to gain more visibility and improved oversight to their contractor engagements on a global scale, how can they navigate the amplified complexity with a Contractor Management Software?
Oilfield services companies play a critical role in supporting the oil and gas exploration and production sector, providing essential expertise, equipment, and services to enable the successful execution of complex projects. In many instances, these companies rely on 3rd party service providers to fulfill specific components or execute entire turnkey projects on their behalf. While this arrangement offers several benefits, it also introduces a layer of complexity for oilfield services companies to effectively manage these 3rd party service providers.
It may seem counterintuitive to rush out and purchase software in financially challenging times. However, investing in the right software solutions during all these challenges can be a strategic move that yield long-term benefits for businesses. By leveraging technology to optimize processes, improve management, and stay competitive in a rapidly evolving market, businesses can position themselves for growth and resilience, even in uncertain times.