There’s no doubt that procurement can get complicated quickly. There’s a reason 75% of procurement organizations have not improved their productivity since 2011. It’s difficult to believe since the rise of technology should have made businesses more efficient. Yet, growth has stagnated.
The issue is how complex supply chains have become while technologies that are supposed to make procurement easier have poor usability, long implementation cycles and minimal compatibility with existing processes or other technologies. The truth is that technological innovation has been at a standstill with very few companies willing to make improvements to the sales and marketing funnels.
Some companies, like Vroozi, have created technology that embraces the mobile revolution and makes procurement more accessible, but a CPO survey by Deloitte reveals that these technologies and companies are few and far between. Most CPOs are dissatisfied with the user experience of their technology. They require technology that will improve the performance of their procurement professionals, not make it more difficult.
The unfortunate reality is that many procurement and sourcing managers still depend on spreadsheets to gather and organize data, instead of using an all-in-one tool that simplifies the process and draws actionable conclusions for improvement and savings. The key to overcoming the technological barriers faced by companies and procurement professionals is to make information more accessible with the right technology.
Procurement isn’t just about getting the best deal from a supplier; it’s a strategically important function that should be aligned to the overarching company goals. To make this happen, procurement leaders need easy access to all relevant information right at their fingertips. They need to know and understand their currency exchange, geopolitical climante, supplier contracts, product quality data, supply data and commodity trends. Even a spreadsheet that can handle that level of information can’t present it in a logical and clear manner.
Instead, companies shouldn’t see technology as a barrier, but with software like as Vroozi’s Mobile Platform, they should see it as an opportunity to quickly pull data from across multiple systems and organize it into a single dashboard. The dashboard allows your team to analyze, streamline, manage and complete the entire procurement process from finding the supplier to closing the purchase and receiving the product.
There’s no need to waste time, money and energy managing multiple technologies or reviewing a plethora of excel spreadsheets and tables. Managers need to be able to slice and dice the procurement process to better understand the impact of every decision. Compiling all data into a single system streamlines the process from identifying solutions to approving purchases.
When information is more readily available, companies can more quickly and efficiently make long-term, goal-oriented decisions that end with improved productivity and savings.