ICYMI: Technology Providers Identify Top Procurement Trends, Challenges

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Over the last couple of months, Spend Matters has talked to a number of procurement technology providers about what they expect to be the major trends for 2016. From managing new risks to a focus on user adoption, these trends will likely impact procurement organizations over the next 12 months. In case you missed any of these posts, we’ve rounded up the top trends and challenges providers predict for the year ahead. You can check out each post, too, to see how the providers plan to tackle top procurement challenges with their specific technology solutions.

Determine: Responsive Platform Design

Millennials are demanding. And, the demands of the generation are now hitting the procurement technology market. These 18- to 33-year olds want mobile and social features, even in their buying platform. Constantine Limberakis, director of product marketing for Determine (formerly Selectica), recently told Spend Matters mobility of a procurement technology is increasingly becoming a main focus. If a technology solution lacks that mobility, Determine has realized, it is an immediate “no-go” for millennials. This is because these workers want to be able to access a solution on a tablet or smartphone as well as their work computer. Making procurement technology solutions that can be responsive to mobile devices as well as look good and are easy to use will be a main focus for the space in 2016.

Read the full article here: Millennials, Mobile and Cloud Security: Determine Shares its Predictions for 2016

BuyerQuest: User Adoption

BuyerQuest CEO Jack Mulloy said user adoption of e-procurement systems would be a top priority for procurement organizations this year. When an organization adopts a new and useful technology solution, it only makes sense you want to ensure people actually know how to use it and are integrating it into their daily work routine. As Jack pointed out, higher user adoption rates lead to better contract compliance, a higher percentage of catalog-based purchase orders and overall higher savings for the organization.

This seems like a no-brainer. Unfortunately, it still is a challenge for procurement organizations. It will be the No. 1 focus for procurement this year, according to BuyerQuest.

Read the full article: A Drive Toward User Adoption: BuyerQuest Shares its 2016 Procurement Predictions

riskmethods: Overall Increase of Risk

Increased external risks, globalization and regulation compliance will expose organizations to new risks in 2016, riskmethods Founder and Managing Director Heiko Schwarz told Spend Matters. Risk management is nothing new, but it will continue to be a top challenge for procurement in 2016. The chance for more extreme weather, continued political turmoil and growing global supply chains are all adding to the number of risk factors organizations have to face. For instance, more companies will likely move out of China this year as the cost of doing business there rises. These companies will set up operations in new territory — places like Northern Africa, Schwarz said — which will increase supply chain complexities and open the organization up to new risks. Managing these risks properly will be key in 2016.

Read the full article here: Globalization Creates New Avenues for Supply Chain Risk: riskmethods Shares its Predictions for 2016

Beeline: Tackling the Talent Gap with Self-Sourcing Technology

The talent gap will very much continue to be a challenge for procurement and supply chain in 2016. As such, organizations need to be creative in how they attract and retain talent to the company. According to Colleen Tiner, senior vice president of product management for Beeline, self-sourcing is one solution proving effective for procurement organizations and contingent workforce managers. Self-sourcing allows organizations to access and engage talent directly for contract work. Beeline’s customers using self-sourcing tools have reported time and cost efficiency improvements, Tiner told Spend Matters.

Read the full article here: The Rise of Self-Sourcing: Beeline Shares Its 2016 Procurement Predictions

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