2017 Sourcing Automation Report

Improving Strategic Supply Chain Management with Electronic Sourcing Technology

When it comes to automating back-office, spend management-related processes, some technology initiatives are more appealing—and perceived as easier—to organizations than others. For example, while getting rid of paper invoices with an eInvoicing tool seems fairly straightforward, some companies hesitate to automate more strategic operations like sourcing for fear that the new system will be more trouble than it is worth.

A successful sourcing process enables an organization to obtain goods and services at the best possible prices, and the more control a company has in this process, the more efficient, strategic, and cost-effective their supply chain management will be. Automation tools like electronic sourcing (eSourcing) software provides a lot of control and visibility to sourcing departments. However, because sourcing is often much more delicate and complex than general procurement, many CPOs and other decision makers hesitate to disrupt the sensitive nature of the sourcing process with a technology implementation.

PayStream believes the long-term value of sourcing automation far outweighs the potential risks that come with adoption, especially when an organization is working with an experienced software provider that understands the sourcing process and the needs of sourcing teams.

This report includes:

– Current sourcing trends among organizations
– A guide to how decision makers can overcome adoption hesitations and use eSourcing to their organization’s best advantage
– A high-level overview of eSourcing features and services

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