This whitepaper by The Hackett Group explores study findings that point
to supplier evaluation and contracting as prime candidates for
automation.
According to The Hackett Group’s research, companies devote an
average of 16 full-time staff to the sourcing process for every $1
billion in spend, and half of all strategic sourcing time is spent in
the supplier evaluation and negotiation phase.
The good news
is that solutions already exist—respondents noted that digital tools
speed up overall sourcing process cycle times by 30% and reduce
data-collection errors, leading to cost savings.
Read this report by The Hackett Group for strategies on how to:
- Reduce lengthy sourcing cycle times
- Enable category managers to identify opportunities for savings through automation
- Reap the top 3 benefits of digital and contract lifecycle management software
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