Innovation, branding, and business model aside, if your business is rife with inefficiencies and led by poor decision-making, your potential for growth will become stunted. Whatever sector or industry you are in, procuring goods and services both efficiently and strategically will accelerate the success of your business. Effective procurement reports and processes will save you time and money while making your business more productive and sustainable.

If your procurement process costs you valuable time and incurs unnecessary costs, you may end up falling behind your competitors.

However, we live in a digital age where statistics, data, and deep-dive insights reign supreme, giving us the power to spot potential issues and inefficiencies within the business. Thanks to the right KPI software, it is much easier to identify trends and set goals that will ultimately increase productivity, drive growth, and boost profits. Procurement reporting is no exception.

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While they have always played a pivotal role in business success, the terms ‘data report’ or ‘business report’ haven’t exactly been synonymous with creativity or innovation. Data reporting is often seen as a necessary evil created by analysts and consultants to offer functional operational insights. As such, the term usually conjures up images of static PDFs, old-school PowerPoint slides, and big tables. Usually created with past data without any room for generating real-time or predictive insights, data reports were deemed obsolete, consisting of numerous external and internal files, without proper data management processes at hand.

But in the digital age, it doesn’t have to be this way. In fact, the business intelligence industry has evolved enormously over the past decade, and data reports are riding the crest of this incredible technological wave.

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Software-as-a-service (SaaS) is becoming an increasingly viable choice for organizations in search of accessibility, functionality, and versatility in a cutthroat business environment.

It’s possible for companies to run SaaS software solutions and online data analysis without the need to rely on installing and running applications on their own computer systems and data centers. As such, these innovations are rising in popularity every year.

SaaS is taking over the cloud computing market. Gartner predicts that the service-based cloud application industry will be worth $143.7 billion by 2022 — a level of growth that will shape SaaS trends in 2021.

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Business intelligence has undergone many changes in the last decade. Each year, we hear about buzzwords that enter the community, language, market, and drive businesses and companies forward. That’s why we have prepared a list of the most prominent business intelligence buzzwords that will dominate in 2021.

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The modern world is evolving faster with the passing of every year. If you don’t pay attention to the changes or keep up the pace, it’s easy to fall behind the times (and the market) while other companies beat you to the punch.

The solution? Get to grips with the latest tech, IT, and computer buzzwords and understand what they mean in a living, breathing business context.

While that may sound easier said than done, here, we’re going to explore the 10 definitive IT & technology buzzwords you won’t be able to avoid in 2021. These essential buzzwords will shape the professional landscape in 2021 and beyond, giving you insights into what to expect and where to invest your efforts in the new year.

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