5 tips on buying procurement technology (Part 3) — Find the right vendor for you

In my Spend Matters PRO series on five tips to think about before you invest in procurement technology, we covered the need to identify the root cause for why you want to invest in procurement technology, as well as why you should learn how to walk before your run, which covers tips 2 and 3. In this, the final installment of the series, we will look at the last two recommendations.

To recap, the five tips are.

1. Identify business objectives ✅
2. Don’t try to do everything at once ✅
3. Focus on the basics first ✅
4. Select a solution and vendor that meets your requirements

5. Review and redesign processes, and perhaps even your organization, as part of the preparation and implementation

So, by now, you have identified the business objectives to why you need and want to invest in new procurement technology. You have also prioritized these objectives and planned out how to approach the implementation. Now the next step is to find the right solution(s) and implement them. So how do you do that? By having completed these first steps it becomes easier. But you still need to make sure that you find the right supplier that meets your requirements and make sure you are not led astray by vendor marketing. After that, you need to make sure the solution gets implemented properly.