ENTERPRISE IT
Procurement Digitisation : When One Platform isn ’ t Enough - Gary Levitan
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By empowering procurement teams with the technology and data , organisations can better manage risk by making informed purchasing decisions .
“ A failure to digitalise procurement processes will ultimately hurt the overall businesses in several other ways too – through higher costs , slower deployment of equipment , employee dissatisfaction and a competitive disadvantage .”
Don ’ t get left behind As Nethercot describes , it is concerning , therefore , that almost a quarter are still not moving in this direction . Especially , when it is possible to do this without heavy investment .
“ For example , by working with suppliers that offer live supply chain data , procurement teams can gain ready access to the information they need to make smart decisions and buy at the best times . By integrating these information streams within their own systems , they can also start to enable digital workflow and approval systems that will allow them to act faster .
“ None of the barriers to digitalisation are insurmountable , yet four out of five organisations still say they are yet to fully do so ,” Nethercot concludes . “ Those who have a clear vision and are putting plans in place will get there sooner , however – and they will enable their organisation to act more efficiently and effectively in the process .”
60 June 2023