Gartner recently published an action plan for procurement based on current trends impacting corporate functions which include: pervasive digital capabilities, data scrutiny, eroding process ownership and the rise of platforms and networks. The impact of these trends require procurement departments to make several shifts to meet the business’s increasing demands.
Adopting an eSourcing strategy now will help procurement teams progress through the five key shifts. These shifts are as follows:
- Value drivers – moving from cost savings and risk mitigation to execution speed and business insight.
- Procurement’s role – transitioning from sourcing executor to sourcing advisor.
- Business role – developing new tools and processes that make it easier for business partners to source events on their own
- Delivery model – focusing on business partner management and less on transactional work
- Resources – Reallocating budget toward personnel and technology (i.e. automation software)
Why eSource by triSaaS?
According to Gartner, 75% of procurement executives consider displacing low-value activities to spend more time working with business partners an urgent issue. Procurement’s shift from reducing costs and risk to eliminating inefficiencies and identifying new sources of value will be imperative for future success.
Our eSourcing software enables procurement teams to run tenders up to 85% faster, allowing more time for collaboration between other business functions. By streamlining and automating existing processes, our platform makes data collection and analysis extremely quick and easy. Improved analytics also allows procurement to make informed decisions and achieve better outcomes.
Roles and delivery model
In the future, business will perform mid- and low-tier buys whereas procurement will become more strategic, focusing on more high-value work. For procurement to pivot into a ‘sourcing advisor’ role, the business partners will require tools that simplify processes. Gartner cites that 69% of business partners prefer the process be easy to execute.
eSourcing makes it easy for even non-procurement functions to perform lower-tier buys so that procurement can spend more time coaching partners and focus on strategy and high-value work. Imagine a solution that automates your existing processes and is so intuitive that business partners can quickly run events with little to no support from procurement. You see, our incredible support team is there to assist from start to finish including the first event setup and the post tender review. This frees up procurement’s time to advise on an ‘as needed basis’ and focus on more important work.
Investing in eSourcing technology along with professional skill sets will undoubtedly enhance the purchasing experience and outcomes. In fact, Gartner revealed that visibility (analytics) and execution speed (automation) are the key advantages of investing in procurement technology like eSourcing.
triSaaS offers unrivalled analytics capabilities. Our software’s ability to instantly analyse supplier data is what makes eSourcing by triSaaS so different from other solutions. We provide real-time visibility and total transparency to all parties involved in the eSourcing process at a cost that won’t break your budget. In fact, we’ll tailor a solution that meets your operational and financial requirements. And you’ll be delighted with our exceptional training and on-going support for all users across the organisation.
Is your procurement team ready to make these shifts? Your action plan should include eSource by triSaaS. Let us help propel your business in 2020 and beyond – it’s not too late!
Register for a free online demo to see how powerful our software is and how easy it is to use.