For most Chief Procurement Officers and their teams in 2021, technology has become a powerful enabler of the sustainable efficiencies and strategic value that can transform operations and improve performance. As a result, selecting the right technology has never been more important. And, as business proceeds into a post-pandemic world, solution selection has never been more important to a procurement department or team.
Major market forces, like innovation, globalization, and the speed of business, have heightened competition and pushed enterprises to pursue broad and systemic agility and intelligence as a way to grow, or at least maintain, market share. In this environment, an enterprise’s talent, systems, and operations must be well-integrated, highly-collaborative, and laser-focused.
On the technology front, several large, overarching trends have taken hold across the marketplace that help to better align many of today’s solutions with the fast-evolving needs of the modern business. Chief among these top technology trends for procurement professionals (based upon our 2021 survey and 350+ respondents) are the use of cloud-based solutions and the push by enterprises to adopt “solution suites” instead of a collection of standalone or one-off solutions, an approach which has increased by more than 50% increase over the past five years. The suite approach can include Strategic Sourcing suites, P2P suites, full Source-to-Settle suites, and multiple applications within a single RFP.
Next Thursday, November 4th, I’ll be examining these trends and discussing The Six Keys to Selecting the Right Technology (click to register). Along with former Ardent Partners’ star alumni, Vishal Patel (of Ivalua), the presenttaion will look at the quantified value that the average procurement team gains when linking its system while also highlighting the pitfalls associated with disconnected systems. but above all, we will be diving deep into the key considerations when choosing a new technology platform, including adoption, usability, data management, and user experience.
WEBINAR DETAILS
Vishal Patel, VP of Product Marketing at Ivalua
When: Thu, Nov 4, 2021 · 11:00 AM Eastern Time (US & Canada) (GMT -4:00)
Where: Online
Tagged in: Ardent Partners Research, Events, Innovation, Solution Providers, solution selection, Technology
