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UK firms 'not taking full advantage of e-sourcing'
British companies are yet to take full advantage of the benefits e-sourcing tools can provide in terms of improving procurement processes.
This is according to a new report from consultancy firm State of Flux, which has found that this technology is currently underutilised, despite being available for around 15 years, reports Supply Management.
It means firms are not gaining the benefit of savings in excess of 20 per cent, which can be provided by e-auctions when used correctly.
Of those polled, around 62 per cent said they have utilised e-sourcing tools for less than five years, while 70 per cent have never used contracting functionality due to their perceive complexity, as well as a lack of investment in training for end users.
Dominic Hastings, executive consultant at State of Flux, said: "The money and effort put into acquiring the tool is usually far greater than the investment put into embedding processes, communication and training, to ensure efficient and effective utilisation of the tool."
In June 2012, Chartered Institute of Purchasing and Supply representation manager Emma Scott called on British businesses to embrace mobile technology and real-time information as another method of improving procurement efficiency.
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