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Companies 'must consider automating procurement'
Companies may be missing out on saving by failing to introduce automation into their procurement processes.
The Aberdeen Group has conducted a survey of 130 organisations showing that the majority of firms are still relying on manual paper-intensive processes in contract management, rather than automation.
This is despite most best-in-class organisations already employing automated systems, as well as the fact that relying on cumbersome manual processes reduces transparency and are less efficient overall, reports Supply Management.
With 66 per cent of poll respondents stating that better control of spending is a key pressure and reason for improving contract management, the analyst group said more widespread adoption of contract management technology is essential.
"Organisations distinguishing themselves as procurement leaders are those driving towards paperless contract management automation," the report said.
This comes after research from procurement consultancy Efficio last week revealed that companies which cut back on supply chain capabilities are likely to incur greater costs later down the line.
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