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Selecting Services Procurement Technology – Options, Approaches, and Philosophy

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Selecting the best technology set for any procurement or operations organization is never easy. Vendors bombard companies—and those that influence company buying decisions, such as analysts and consultants—with functional detail after functional detail, often attempting to differentiate at such a level that even the experts who review such products often throw their hands up in despair. In the case of services procurement, this could not be more true, owing to both the diversity of the provider ecosystem and the range of philosophies and approaches brought to the table by different providers. Moreover, in the case of contingent labor procurement, managed services providers (MSPs) that take ownership of any administrative and strategic components of contractor and statement of work (SOW) lifecycle management also have a voice in the decision process. But perhaps the most important element of any decision on services procurement technology is the identification of partners that can support the entire buying lifecycle of “live” commodities (as opposed to inanimate widgets). This means ensuring that any platform under consideration takes into account critical aspects of both cost and non-cost-based sourcing and supplier management elements.

Download the first paper in the Services Spend Compass from Spend Matters.