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Importance of Vendor Audit for your Start-Up

Last three years have been very difficult for start-ups. It has been a tight- rope walk for founders to run their startups, cut costs, show profitability and raise funds. While organizations are taking all sorts of measures to sail the boat through these tough times, it’s been hard. The recent downround of #Pharmeasy and many more to come is only amplifying the grim situation. One of the most common measures organizations take to cut costs is to let go of employees, make systems and processes lean. However, an important area which is often neglected is the cost vendors bring to the system.  Let’s take an example, even a series A funded startup will have 20-30 vendors or agencies working with them. Series B, the number could be up to 75+ and so on. The larger the organization, the more the number of vendors could be. Therefore, a proactive vendor management and vendor audit becomes a crucial part to run your organization profitably and efficiently. Here are some advantages of conduc...
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OIL AT $70: A GOOD POINT OF BALANCE?

With oil prices hovering at a 3 year high, the question that everyone has on his or her mind is where are the prices headed from here on? While the fundamental and technical analysts may have differing opinion on the same but if the price sustains around current level will be a very good point of balance between the money and power hungry nations. Ever since US has gone big on shale oil, the oil producing majors comprising the OPEC (Organization of Petroleum Exporting Countries) have had a tough task of keeping the oil prices tied up in a leash. The cartel has kept the production low for many months now. The same had to be done to keep the US production of shale oil low and maintain its own monopoly. Now, a mix of factors led to a rise in crude oil prices in 2017- rising demand, production cuts etc. Now, with crude at $70, in a way it’s a point of truce/point of harmony between US and OPEC nations. US President Donald Trump visited OPEC leader Saudi few months back and it...
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