Constrained budgets, leaner workforces, having to “do more with less” and the necessity to report on value contribution are all increasing the need for technology to help drive procurement transformation. At first glance, Enterprise Resource Planning (ERP) systems get the attention of Finance and IT, but the realities of associated cost, project length and lack of procurement functionality quickly become a harsh reality. What some companies are doing, is temporarily putting ERP systems on the back-burner to make room for more nimble and leaner solutions, like eProcurement, which can yield immediate results.
Companies are looking at the entire procurement ecosystem to drive quicker turnarounds on bids and easier communication between the company and their supply base to increase efficiency. Organisations need technology to enhance transparency, drive sustainable cost savings, gain more supply base value, reduce supply chain risk and influence innovation. Existing mainstream ERP tools have failed to deliver these capabilities and have notable gaps in proactively helping procurement deliver more value to the business.
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