Part of Spend Management doctrine dictates keeping a close eye on costs and justifying technology and other expenditures based on returns. This makes a new study that recently came out all the more interesting.
Last night, a Spend Matters reader pointed me to a study from Hackett Group that I found intriguing. The report found that world-class procurement organizations spend 27% more than their peers on technology, despite spending 27% less overall on total procurement operations. The study also found that leading procurement operations run with 38% fewer staff than the average. You can read the high level findings from the report by navigating to the "Inside Hackett" and "News Releases" on the Hackett Group's site.
Interesting stuff, but vendors should not take this as carte blanche to push technology at the expense of process. Still, it's validation that Spend Management technology is a smart investment. -Jason Busch