It doesn’t matter how innovative your brand is or how groundbreaking your business model might be; if your business is ridden with glaring inefficiencies, your potential for growth is eventually going to get stunted.
In fact, an IDC study showed that over 80% of business leaders surveyed from sales, HR, procurement, and other departments agreed that issues arise because companies are equipped with different internal systems and applications that don’t ‘talk’ to one other. 43% of the surveyed staff also said they often have to copy and paste or rekey in information, thereby wasting time and hindering productivity.
Now, regardless of the sector or industry, the procurement of goods and services in a timely and efficient manner is one of the primary drivers of success. If your procurement process costs you valuable time and incurs unnecessary costs, you may end up falling behind your competitors.