According to Gartner, North American companies spent $1.4 billion on sourcing and procurement applications in 2013. For their investment, companies are seeking two fundamental benefits:
• Lowering costs for the goods and services they buy
• Making their employees more productive
But are companies really getting their money’s worth? To answer this question, Topline Strategy Group conducted a study that surveyed 241 sourcing and procurement professionals at 201 unique U.S. companies with $500 million or more in annual revenue. These participants rated 426 individual deployments of sourcing and procurement systems across five application areas—Spend Analytics, Supplier Information Management, eSourcing, Contract Lifecycle Management, and eProcurement. Topline Strategy Group also conducted follow-up interviews with a subset of survey respondents to learn more about their experiences.
Key Findings: While some companies are getting their money’s worth, a large number are only somewhat getting their money’s worth, and far too many are not getting anything for their investment.
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