Most organisations have recognised the need to automate their procurement and financial processes in order to increase efficiency and reduce costs. Some are making big strides in transforming these processes, some are just starting out, and others are lagging behind. But even in the most automated organisations, it would appear there’s a still a long way to go.
The 2016 Spend Control and eProcurement Technology Survey Summary looks at the current state of automation across eight distinct areas of Spend Control and eProcurement with breakdowns by private, not-for-profit and public sectors. It also provides a view of which of those areas organisations in each sector are focusing on for review and transformation today and over the coming year.
Although results varied significantly from sector to sector, a few key high level points from the report include:
- The areas with the highest levels of current automation across all organisation are: Invoice Receipt and Processing, Purchase-to-Pay and Spend Analysis.
- The areas with the lowest levels of current automation are: Supplier Relationship Management (along with the related area of Supplier Information Management), Contract Visibility and Management, and Electronic Supplier Commerce.
- The areas most indicated for current or near-term review and transformation are reasonably aligned with those that currently have a low level of automation, except that Spend Analysis topped the list even though it already has a relatively high level of current automation.
Overall, the number or organisations planning to focus on one or more areas in the near-term is incredibly high – suggesting Procurement is becoming more strategic and central to senior decision-makers change initiatives. A full 57% of the respondents’ organisations are focusing on review and transformation of at least one area TODAY and an even greater 77% of the respondents’ organisations plan to focus on one or more of these areas WITHIN 6 MONTHS.
About the Survey
The 2016 Spend Control and eProcurement Technology Survey was conducted in June 2016. Respondents were procurement and finance executives from organisations that attended The Spend Control Summit held at the Emirates Stadium in London.
The Spend Control and eProcurement areas covered by the survey included Spend Analysis, Strategic Sourcing, Supplier Information Management, Supplier Relationship Management, Contract Visibility and Management, Purchase-to-Pay, Invoice Receipt and Processing, and Electronic Supplier Commerce.
For further details and to download the full report, visit Spend Control & eProcurement Technology Survey Summary.