Digitizing all parts of doing business is on everybody’s lips. Yet it proves to be challenging for most. Why? During a webinar focusing on digitizing sourcing strategies and operations some clues were given.
How automated and digitized is your sourcing process?
- 5% of the attendees use a full eSourcing cycle end to end..but
- 43% manage suppliers and/or contracts electronically…yet
- 36% of attendee sourcing operations are manual
Using the same definitions and having the same understanding is key if we are to be able to compare with each other. Below a Scanmarket and Basware definition over the full Source to pay cycle – in which they collaborate. Basware covering 6-8 (+1) and Scanmarket 1-5.
Highest priority sourcing objective?
As 41% (choosing the one highest sourcing objective) choose driving down supplier costs – another 32% chose increasing visibility and control to be the highest priority.
Recorded session on demand
Take a look at the on demand webinar where Cathrine Engman at Basware share why they enable a session focusing on eSourcing and eAuctions. Further, Dan Gianfreda at Scanmarket give an excellent overview over digitizing sourcing strategies and operations and what that could mean. Following this link you get access to the recorded session.
What is stopping you from becoming more digitized and automated?
So – what is stopping companies from becoming more digitized and automated (suggesting that that could lead to increased visibility and control and lowered supplier costs).
- 41% stated other priorities come first (consider for a while what sourcing and procurement professionals spend their most time on)
- 34% lack senior management buy-in
- 32% do not see eSourcing and eAuctions as enough value bringing
- 24% mentioned internal resistance
- 12% mentioned lack of budget
In summary it could be argued that since 36% have manual sourcing operations and only 5% a full eSourcing cycle there is a clear room for improvement. Driving down costs and increasing visibility are the highest priorities and believing digitizing and automating would increase at least visibility, one could wonder what other priorities come first.
Poll results in images
Welcome to join us another time – all who register to join live sessions also receive the slides which are usually quite valuable to view.