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Harnessing AI in Procurement: Can we revolutionize Resource Efficiency and Strategy Execution?

Revolutionize your procurement process with Artificial Intelligence. From automating routine tasks to enhancing strategic decision-making, discover how AI is transforming procurement into a more efficient and insightful function. Many times, procurement is viewed as "just" a back office cost center, with its employees being so overburdened with operational duties that they fail to fulfill their ... Read more

Examining the Relationship Between Supplier Performance Management and Supply Chain Visibility

Two entangled threads that stand out in the complicated fabric of business operations are supply chain visibility and supplier performance management. They both contribute to the supply network's overall success and resilience. Despite their apparent contrasts, these two concepts are inextricably linked and function in tandem to foster resilience, efficiency, and competitive advantage. Transparency ... Read more

Supplier Performance Management: A mutual Win-Win Strategy if done right

Supplier Performance Management (SPM) becomes essential in the quest for a profitable and efficient supply chain. Your supply chain's efficiency depends on how well your suppliers perform, thus it's critical that you carefully control and monitor their business practices plus leverage these insights for improving your supply delivery to your clients. The Importance of Performance ... Read more

Supply Chain Visibility: A Game Changer

The effectiveness and efficiency of your supply chain play a big role in determining how successful your firm is in the current global economy. However, because modern supply chains are global, dynamic and complex, maintaining operational excellence and cost-effectiveness can be a difficult task adding layers of process & people within your organization to manage ... Read more

Beyond Business: The Remarkable Journeys of Extraordinary Business Leaders

In this thought-provoking episode, Thomas takes us on a journey into the world of fintech, startup, procurement, supplychain, and sustainability. With his extensive background in strategic sourcing, purchasing, and management of categories, commodities, suppliers, and various projects, Thomas is a true trailblazer in the field.

The Impact of Customised Supplier Sustainability Assessments on Procurement Decisions

Explore the evolving landscape of procurement in a socially and environmentally conscious era. Discover the crucial role of supplier sustainability data as a compass for responsible decisions. Uncover challenges in assessing sustainability, navigating a complex landscape in modern procurement.

Aligning Procurement & Finance in the Digital Age

In a recent captivating CFO 4.0 podcast episode, our Founder & CEO, Thomas Siersbæk Heller-Njor, joined host Hannah Munro to share a profound insight that sets the stage for a dynamic discussion: Procurement and finance, when aligned, can be the driving force behind business success.

Shielding Your Business from Fines and Legal Risks Amid Global Sanctions

Unveiling the dynamic partnership between procurement and finance: a harmonious blend of objectives, risk management, and data-driven insights. Discover how their synergy orchestrates financial success.

Exploring Differences and Alignments within Procurement and Finance

Navigating the Data Imperfections

Navigating through data challenges can be daunting – from elusive data quality to managing vast volumes of information. In this article, we debunk the myth that perfect data is the only key to success. Discover how CFOs can excel even with imperfect data, opening doors to growth and innovation.

Combating Corruption in Procurement

The road to avoiding corruption in procurement requires a holistic approach that prioritises integrity, transparency, and fair competition.

Inter Force Denmark membership

The significance of national security in an uncertain world and CostBits’ partnership with InterForce Danmark.

Embracing a New Approach to Work

Explore the importance of flexibility in the modern work culture, emphasizing the need for companies to recognize and accommodate the diverse lives and priorities of their employees, ultimately leading to a thriving workforce and sustainable success.

Procurement and AI - a man in a suit sit next to a robot

Embracing AI in Procurement

While AI reshapes the procurement professional’s role, we emphasise the enduring importance of human interaction and relationship-building.

Why Procurement Deserves a Seat at the Table in Strategic Decision-Making

Procurement is a critical function in any organization, yet it’s often left out of strategic decision-making. In this blog, we’ll explore why procurement deserves a seat at the table and how it can contribute to the company’s strategic direction.

Bridging Business Gaps Through Reflective Procurement

Thanks again, Kelly Barner and Art of Procurement for the wonderful opportunity to share CostBits perspectives on the podcast. We at Costbits look forward to future collaborations and discussions!

The Rollover effect of the war in Ukraine on EU and US companies

The ongoing conflict in Ukraine has far-reaching consequences not only for Ukraine but also for the wider European and US regions. The war has led to economic sanctions, geopolitical tensions, and an overall increase in uncertainty for businesses operating in the region.

BestAuction

Contractbook

Microsoft

kompasbank

Fair play works

When the two top atheletes in the worlds hardest and most competitive race can agree on FairPlay – maybe we can hope for the same between buyer & supplier?

Microsoft partnership

What a wonderful way to start a happy Friday here CostBits 🙂

Staying friendly – every day

A short inspirational read on what we are building to AVOID at our linkedIn (CostBits)

Agile Spend Analytics for SMEs

Thank you James Meads for supporting our ventures and listing us on your page.

What a blast we will have!

Happy New Year! ✨ For Costbits, 2022 has been the year things really got going.

Always give more than you take

⭐Tis the season to be jollyyy⭐, as Christmas is just around the corner ?

Karina Sundbæk

? We’d like to welcome Karina Sundbæk to the team as an advisory board member!

Thank you all 🙂

At Costbits, we have a lot to be grateful for this year.

Every day is Black Friday

Here at CostBits, every day is black Friday! ?

Lars Runov

Here at Costbits, we are always working to build a strong, passionate, and communicative team, and are therefore proud to announce Lars Runov to our team as an advisory board member!?

BestAuction

At CostBits, we are proud to announce a new partnership with BestAuction! ?

Henrik Larsen

We are excited to announce Henrik Larsen to the team as an advisory board member.

Digital Tech Summit

We are thankful for the outstanding and insightful event that Digital Tech Summit 2022 has provided for a start-up such as our own ?.

Spooky is back…

At CostBits, we wish you a spooky Halloween!

Claus Finderup Grove

At CostBits we’d like to welcome Claus Finderup Grove to the team as an advisory board member ?

Being presentable – maybe…

We are excited to announce that CostBits will present at the 2022 Digital TechSummit

Nordic Fintech Week

At Costbits, we are thrilled to have had the chance to present at Nordic Fintech Week

On stage – in a bit…

Great start with investors and partners here at Nordic FinTech week.

Free coffee anyone?

Winning as a team with great partners

Meeting friends

Great days at TechBBQ

We’d love to meet you

Contact us anytime for anything relating to cost! If our solution can help then that’s great – but if you just need general advice and guidance on how to improve your company cost performance – contact us anyway and we will gladly support with free guidance!

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