Technology is the enabler that will allow you to automate your transactional activity. However, making the right choice is key.
A poor choice could result in your business being stuck with an inflexible process and limited buy in from system users.
The right choice is the solution that will encourage a positive uptake from staff, improve process efficiencies and lead to cost savings which will demonstrate significant ROI.
Solutions designed to automate the Procurement function only will not suffice. The focus is on making the process efficient and effective for all parties, not just Procurement.
Evaluating solutions can be tricky but any technology you consider should at least have the following features:
Easily adopted– look for solutions with an intuitive interface – that is one that looks familiar to other systems and has few clicks to achieve an objective. Systems with catalogue like interfaces will appeal to users, as these are the most familiar to them. This encourages use and also minimises the time needed for staff training.
Cloud Based– a cloud-based solution is important in a number of ways. Such solutions tend to be more cost effective and for any company with multiple offices and home-based workers, it enables workers to have 24x7 access to real-time data from the system.
To find the best fit, consider the size of your company, the type of spend you are targeting and the variety of spend categories you are seeking to cover.
Large companies are better served by an enterprise level platform designed to integrate with other internal systems and the more complex needs of a larger organisation. However, it is important to address specific categories with speciifc add on solutions to maximise on the gains.
Medium sized companies may have to choose a single solution. Guidance here would be to weight the needs of the users above all other concerns. Adoption, when there is only one solution, is critical for medium sized companies to achieve return on investment.
Once you have lined up a shortlist of potential technology providers then contact them all and request a one to one personalised demo to help you establish whether the solution is a good fit for your needs. Insist on the demo being tailored for your business and request key functionality you need is demonstrated. This will weed out inflexible suppliers and suppliers with inflexible products.