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Sourcing, Contract Management, and Supplier Management Cloud – Business Users Benefit From Savings Enablement

The past decade has seen significant reinvention of existing procurement tools focused on decision support and information management. Historically, many companies have relied on manual approaches to sourcing, contract management and supplier management (e.g., fax, email, office) or the installed software capabilities of ERP extensions or other third-party solutions, many with limited capabilities.

Over the past decade, a period of punctuated equilibria within procurement technology, cloud models have come to dominate a range of solution areas. Cloud capabilities typically result in quick implementations with limited or no IT involvement. Rapidly deployable in a cloud environment or behind a firewall, the approach has empowered the procurement community in a range of ways including ease-of-use and general front-line business user accessibility; permitting experienced sourcing experts as well as more traditional "buyers" to walk up to a tool set and be productive with little or no training. As a result, procurement teams can get up and running quickly with the solution to start generating savings.