The impact of COVID-19 on Spend Management software projects

For any organization in the middle of a software implementation, recent events may have just pulled the rug out from underneath them.

In the best of times, these projects are challenging, but teams are also having to deal with remote working, IT resource shortages and business models that seemed perfectly reasonable at the start of the project but now seem like an uphill climb, and in some cases obsolete.

While it could be argued that the full impact of this epidemic on businesses and supply chains is still unknown, projects are still moving forward. There may have been changes to time-frame or scope, but resilient businesses, and providers, are adapting. Forbes states that, "Now is the time for enterprise software providers to go the extra mile for their customers across all industries and help them recover and grow again."

According to CPO Strategy, "With the world shifting to a virtual landscape, procurement teams must accelerate digital transformation to keep up with the pace required by the business." And from using communication tools rather than face-to-face meetings, to full implementations online, many companies are displaying the agility that is needed to not only survive, but to thrive.

A good example of this is Eidos media, a world leader in the development of content management and digital publishing solutions, implementing Proactis to streamline its spend management process. The initial implementation was for the Milan office, where 90% of the organization’s spend takes place. The solution was implemented completely digitally and remotely, and the people at Eidos are able to access the platform anytime, anywhere and from any device, even during uncertain times. The Proactis solution has enabled business as usual with the organization able to focus on crucial management objectives and minimizing risk.

This is just one example of how smart, agile companies are adapting to the situation and continuing to implement software solutions to benefit users.