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The Evolution of Corporate Procurement Systems

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Published:  January 24, 2017
Access Level:   Free
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Today’s corporate procurement systems operate similarly to the way people shop at a supermarket. Users make all purchase decisions individually, decide which aisles to go down, compare products, place the items they want in their shopping cart and pay for them at checkout. At the end, the user will have had a good or a bad experience and will decide whether to frequent that supermarket again.

Corporate purchasing has similarly become a self-service activity. And just as in supermarkets, providing a successful shopping experience is key for getting people to use a purchasing system consistently.

While this evolution in corporate procurement would not have been possible without the foundation laid by ERP systems, these technologies have not evolved to accommodate this new style of purchasing. This is why e-procurement solutions exist.

These solutions are capable of tackling new procurement challenges and providing successful purchasing experience in complex scenarios for organizations with multiple ERP systems; dozens of offices; hundreds or thousands of employees; transactions in multiple currencies and languages, mobile, and automation requirements; and, critically, the need to analyze, control and optimize all organizational spend.

Download this white paper and explore what is required from e-procurement solutions to succeed in the era of evolved corporate procurement and our predictions for what the e-procurement solution of 2020 will require!

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