Procurement Technology Needs Identification

Procurement Technology Requirements Identification and Roadmapping Consulting

Corcentric’s Procurement Technology advisers help Procurement teams determine what it needs from its technology and develop plans to get there.

Digital technologies promise to take Procurement to the next level in its strategic evolution. Providing for more efficient collaboration and a better return on investment, tools powered by advanced analytics and automation consistently grow more robust and accessible.

Kick-starting Procurement’s digital transformation is easier said than done. The Procurement technology landscape is crowded and the hype surrounding new sourcing and spend management solutions makes things even more overwhelming. With few solution providers in the consultative space, Procurement is typically left to assess its needs, navigate the market, identify technology providers, and implement new solution on its own. Corcentric closes this gap with our Procurement Technology Advisory services.

Corcentric’s Procurement Technology Advisers provide customized, hands-on support navigating the Procurement Technology landscape to ensure Procurement understands what it needs from its tools and determine the most efficient way of meeting those needs.

Whether you’re looking to introduce Procurement to a new  Contract Management tool,  eSourcing suite, or Vendor Management platform, Corcentric’s Procurement Technology Advisers have the experience and subject matter expertise to pair Procurement with a best-fit solution and tailor Procurement’s processes the realize its full potential.

Procurement Technology Needs Identification

When Corcentric’s Procurement Technology advisers conduct a Needs Identification, they’re looking to answer the following questions.

  • What are the strengths and weaknesses or Procurement’s current solutions?
  • How do stakeholders throughout the organization perceive Procurement’s solutions?
  • Are issues with Procurement’s solutions related to inefficiencies in the function’s approach to people and processes?
  • What is Procurement hoping to achieve with a new solution?
  • Is the organization properly equipped to implement a new Procurement solution?

To answer these questions, Corcentric’s Procurement Technology advisers embed themselves within a client’s Procurement team. There, we’ll assess the current state of Procurement’s operations to understand what it wants and needs from a Procurement solution.

  • Corcentric’s Procurement Technology advisers begin by consulting with Procurement’s leaders to determine the organization’s vision. Assessing the efficacy of their current Procurement solutions and determining short and long term goals, they begin to understand where Procurement can and should improve.
  • Then, our Procurement Technology advisers conduct interviews with Procurement end users and stakeholders across the organization. This provides a sense of how well Procurement’s current solutions are meeting the organization’s needs.
  • The Procurement Technology team then observes the solution in action. As part of a broader Procurement Maturity Assessment, this period of observation allows the experts to assess areas where Procurement’s people and processes could be better aligned to leverage the function’s solutions.
  • Leveraging our knowledge of the Procurement Technology landscape, the Procurement Technology advisers will provide recommendations for vendors capable of meeting your organization’s unique business objectives.

Procurement Technology Roadmapping

After diagnosing Procurement’s technology needs, Corcentric’s advisers go about developing a process for effectively meeting these needs. In creating a Procurement Technology Roadmap, Corcentric aims to answer the following questions and more:

  • How long will it take to implement Procurement’s new technology?
  • How will Procurement and other departments allocate their time and resources?
  • How will Procurement respond to the emergence of new technologies?
  • How can Procurement ensure its new tool produces the intended ROI?

With your technology requirements identified, our Procurement Technology advisers will develop a technology roadmap to guide you through the selection and implementation process. Our roadmap for digitizing procurement will explore items such as:

  • Implementation phases that accommodate Procurement’s capabilities and capacity
  • Training programs to ensure Procurement acts in an informed, strategic manner.
  • Clear roles and responsibilities for stakeholders within Procurement and across the organization.
  • Milestones to track progress and performance against Procurement’s goals.
  • Guidelines informed by Corcentric’s knowledge of the Procurement Technology marketplace.
  • Regular check-ins with Corcentric’s Procurement Technology advisers to ensure alignment.

Kick-start Procurement’s digital transformation with Needs Identification and Roadmapping services from Corcentric’s Procurement Technology advisers.