Larger fiscal deficits call for stricter compliance to government tender guidelines
There is a greater need for public sector tenders to be more strictly awarded according to government’s guidelines. The outcome of tender awards influenced by government officials with stakes in corporate companies, bribery and financial mismanagement is not just that incompetent people receive a contract, but also the waste of government’s steadily shrinking pockets.Professor Justin YIfu Lin with Minister in The Presidency: National Planning Commission, Trevor Manuel.
Posted by Editor at 10:00 AM | Comments (0)
The 'silver bullet' in managing travel and entertainment expenses
Organisations that do not use an automated travel and entertainment (T&E) expense management service are falling behind in almost every measure of financial management.These organisations as ‘laggards’ and presents figures showing that they pay 37% more to process their expense reports; they take three times longer to reimburse employees; and they are essentially working in the dark when it comes to controlling travel expenditures accoring to a a 2008 report by researcher Aberdeen.
Posted by Editor at 11:31 AM | Comments (0)
A minefield of misinformation - Tackling the challenges of BEE perception
It’s been two years since the introduction of BBBEE (Broad Based Black Economic Empowerment) and yet there is still a critical need for information about this phenomenon. This lack of information perpetuates misconceptions around BEE – rather than empowering employers with the right framework for implementation, the limited knowledge available creates an emotional environment that is counter-productive to the precepts of BEE.
Posted by Editor at 10:56 AM | Comments (0)
Finally, first BEE verification agencies accredited
The Association of BEE Verification Agencies (ABVA) has welcomed the announcement by the Minister of Trade and Industry, Mandisi Mpahlwa, in terms of verification agencies that have completed the accreditation process conducted by the South African National Accreditation System (SANAS) on behalf of the Department of Trade and Industry (DTI).
Posted by Editor at 8:15 AM | Comments (0)
World Class Operational Procurement: Committing the Funds - Anatomy of a Purchase Order
Part 5 of a ten-part series that examines key operational aspects of the so-called “Purchase to Pay” value chain
by Independent Contributor, Peter Alkema – Head: Purchase to Pay at ABSA
“Until such time as a Purchase Order (PO) is created by the customer and received by the supplier, no legally binding purchase process has been initiated,” Peter Alkema, Head: Purchase to Pay, ABSA, told SmartProcurement. Although there are generally agreed principles for POs (it could be written by hand or generated by a purchasing system), it must at least display certain header and line item information. In most cases it will have been created at the end of an approval workflow that began with the creation of a shopping cart (see Part 2).
Posted by Editor at 6:56 AM | Comments (0)
World Class Operational Procurement: What is compliant spend?
Part 1 of a ten part series that examines key operational aspects of the so-called "Purchase To Pay" value chain
By Independent Contributor, Peter Alkema - Head: Purchase to Pay at ABSA
Posted by Editor at 8:43 AM | Comments (0)
