Whilst procurement technology can benefit businesses, it can also suffer from IT support and budgets
Research conducted by Sapio and commissioned by Wax Digital has highlighted the benefits and issues surrounding procurement technologies.
The findings suggest that IT support, complexity, analytics, resistance to change, and budget are some the top issues among respondents when reaching eProcurement targets.
From the 97% of those survey who are still capable of achieving benefits, 42% will achieve the benefits fully whist 57% will generate more benefits despite not realising every advantage.
Only 1% of the respondents claim they will not achieve any more benefits at all.
On average, those surveyed were reaching 52% of the full range of eProcurement benefits on offer.
There is a 23% gap between benefits currently being reached and those being achieved over the eProcurement system’s full lifecycle.
From those question, the findings suggest that the largest benefits gaps was personal productivity, affecting 37%.
“These research findings show that there is a real appetite to improve the performance and effectiveness of procurement through technology and there are many strong solutions on the market to help them do this,” stated Daniel Ball, Director at Wax Digital.
“However, if the wrong technology choice is made or the conditions for implementation are not carefully planned, organisations may only achieve some of the potential benefits.”
“Procurement professionals clearly know what stands in the way of them extracting the most from eProcurement.”
“Now they need to focus on how to successfully minimise these barriers and increase their project outcomes.”