5 Tips for Streamlining Your Procurement Process

In today’s fast-paced business environment, streamlining procurement processes has become essential for businesses of all sizes. Procurement, which involves the acquisition of goods and services, is an integral part of any business. However, the process can be time-consuming, expensive, and complex.

Our Tips for Businesses Looking To Streamline Their Procurement Process

  1. Define Your Procurement Strategy
    The first step in streamlining your procurement process is to define your procurement strategy. A procurement strategy outlines how your business will acquire goods and services to meet your objectives. It should be aligned with your overall business strategy and consider factors such as cost, quality, and time. By defining your procurement strategy, you can ensure that all stakeholders understand the procurement process, and you can establish clear policies and procedures.
  2. Leverage Technology
    Technology has made procurement processes more efficient and transparent. Automation tools such as procurement software can help streamline procurement activities, including purchase order creation, supplier management, and invoice processing. By leveraging technology, businesses can save time, reduce costs, and improve accuracy.
  3. Negotiate with Suppliers
    Effective negotiation with suppliers can result in cost savings and improved supplier relationships. Before entering into a contract with a supplier, it’s essential to conduct market research to determine the fair market value of the goods or services you need. Negotiate the best possible terms, including price, delivery time, and payment terms.
  4. Establish Standard Operating Procedures
    Establishing standard operating procedures (SOPs) can help streamline the procurement process. SOPs provide a framework for procurement activities and ensure that everyone follows the same process. Standardisation can help reduce errors, increase efficiency, and improve compliance.
  5. Measure Performance and Continuously Improve
    Measurement and continuous improvement are critical to streamlining the procurement process. Establish key performance indicators (KPIs) and regularly measure performance against them. KPIs could include metrics such as cost savings, supplier lead time, and quality of goods or services. By measuring performance and identifying areas for improvement, businesses can continually refine their procurement processes and achieve greater efficiency.


In conclusion, streamlining your procurement process can lead to cost savings, improved supplier relationships, and increased productivity. By defining your procurement strategy, leveraging technology, negotiating with suppliers, establishing SOPs, and measuring performance, businesses can achieve greater efficiency and improve their bottom line.

Financing Technology Purchases: How to Make Smart Decisions

In today’s rapidly evolving business landscape, technology plays an increasingly crucial role in driving growth and staying competitive. But for many businesses, the cost of upgrading technology can be a significant barrier to success. Fortunately, there are several ways to finance technology purchases, from leasing to financing to buying outright. In this post, we’ll explore each of these options and provide guidance on how businesses can make smart financing decisions that align with their budget, timeline, and business needs.

Leasing Technology

Leasing technology is a popular financing option for businesses looking to stay up-to-date with the latest tech trends without breaking the bank. With a lease, businesses can access the latest technology without having to pay the full purchase price upfront. Instead, businesses pay monthly or quarterly lease payments for the use of the technology over a set period, typically 24 to 60 months.


  • Low upfront costs
  • Flexible payment terms
  • Tax benefits
  • Access to the latest technology


  • Higher overall costs compared to purchasing outright
  • Potential for hidden fees and charges
  • Limited customisation options
  • No ownership at the end of the lease

Financing Technology

Financing technology is another popular option for businesses looking to purchase technology without paying the full purchase price upfront. With financing, businesses take out a loan to purchase the technology, and then make monthly or quarterly payments over a set period, typically three to five years.


  • Ownership of the technology
  • Potential tax benefits
  • Lower overall costs compared to leasing
  • Customisation options


  • Higher upfront costs than leasing
  • Interest rates and fees
  • Possible impact on cash flow
  • May require collateral

Buying Outright

Buying technology outright is a straightforward option that involves paying the full purchase price upfront. This option is best suited for businesses with ample cash reserves and those looking to customise their technology solutions.


  • Ownership of the technology
  • No additional costs or fees
  • Ability to customise solutions
  • Small impact on cash flow
  • Cons
  • Higher upfront costs
  • Potential for rapid technology obsolescence
  • No access to the latest technology
  • No tax benefits
  • Tips for Making Smart Financing Decisions


Regardless of which financing option a business chooses, it’s essential to make informed decisions that align with its budget, timeline, and business needs. Here are some tips for making smart financing decisions:

Consider cash flow: Will the financing option impact the business’s cash flow, and if so, how? Make sure to factor in monthly or quarterly payments and any associated fees when determining affordability.

Understand the terms: Read the fine print and understand the terms of the financing agreement, including interest rates, fees, and repayment periods.

Compare options: Compare leasing, financing, and outright purchase options to determine which one aligns best with the business’s needs and budget.

Seek expert advice: Consult with a financial advisor or technology expert who can help guide the decision-making process and provide insights into the latest technology trends and financing options.


In conclusion, financing technology purchases is a critical decision that can impact a business’s bottom line, cash flow, and long-term success. By considering factors like budget, timeline, and business needs, and by following the tips outlined in this post, businesses can make smart financing decisions that enable them to stay up-to-date with the latest technology trends while maintaining financial stability.

How the Internet of Things is Changing Connectivity for Businesses

The Internet of Things (IoT) is rapidly changing the way businesses operate. It refers to the concept of connecting devices, sensors, and other objects to the internet and enabling them to communicate with each other. This technology has the potential to transform the way businesses operate by providing real-time data and insights that can help companies make more informed decisions.

What is the Internet of Things?

The Internet of Things refers to the concept of connecting everyday objects, devices, and machines to the internet and enabling them to communicate with each other. These connected devices can be anything from smartphones and wearables to cars, home appliances, and industrial equipment.

IoT devices have sensors and processors that allow them to collect and exchange data with other devices or a central server. This data can be analysed to provide insights into how the device is being used, its performance, and its environment. For example, a smart thermostat can sense the temperature and humidity in a room and adjust the heating or cooling accordingly.

How is the IoT changing connectivity for businesses?

  1. Automation and Efficiency:
    Firstly, with connected devices and sensors, businesses can automate processes and reduce the need for manual intervention. For example, in a warehouse, sensors can be used to track inventory levels, monitor equipment performance, and detect anomalies. This data can be used to optimise workflows, reduce downtime, and increase productivity.
  2. New Business Models:
    Secondly, the IoT is enabling new business models and revenue streams. With connected products, companies can offer new services and experiences that were not possible before. For example, a smart home security company can offer real-time monitoring and alerts to homeowners, providing an additional layer of security and peace of mind. This creates new opportunities for businesses to generate revenue and build brand loyalty.
  3. Pervasive Connectivity:
    Thirdly, devices and sensors are being integrated into everything from cars to medical devices, creating a network of interconnected objects that can communicate with each other. This connectivity creates new opportunities for data analysis and insights. With the right analytics tools, businesses can gain insights into customer behaviour, operational performance, and product usage patterns. This data can be used to improve decision-making and drive business growth.
  4. Cybersecurity:
    Finally, with more devices and sensors connected to the internet, there is a greater risk of cyber-attacks and data breaches. Security measures need to be put in place to protect data and devices from unauthorised access. This requires a robust security strategy that includes encryption, access controls, and monitoring tools.


In conclusion, the IoT is changing connectivity for businesses in significant ways. It is enabling automation, creating new revenue streams, providing new insights into customer behaviour and operational performance, and creating new security challenges. As an IT manager, it is essential to understand the potential of the IoT and the challenges it presents. By developing a comprehensive IoT strategy, businesses can take advantage of the benefits of this technology while mitigating the risks.

9X5 joins NSW ICT Services Scheme Panel

9X5 is proud to be a supplier for the NSW Government under the NSW Government ICT Services Scheme, which is a mandatory whole-of-government arrangement by which suppliers deliver ICT services to NSW Government.
This arrangement ensures NSW government agencies can find and procure the goods and services that best meet their needs. The Scheme arose from extensive consultation about how government and industry can make the most of procurement opportunities.