Gartner’s “E-Procurement by the Numbers” report provides insight into the who, how, and what of e-procurement. Gartner analyzed data collected from 109 e-procurement solution users and 32 e-procurement solution vendors. The report analyzed the following six categories:
- Who is adopting e-procurement solutions
- How e-procurement vendors offer their solutions (SaaS vs. hosted)
- How organizations are fitting e-procurement solutions into their broader application portfolios
- What organizations are deciding in terms of e-procurement solution scope and usage policy
- How organizations are integrating their e-procurement solutions internally and externally
- Which capabilities organizations are considering for future e-procurement investments
According to report recommendations, “Do not avoid specialty e-procurement solutions because they need to be integrated to an accounting system or ERP; this type of integration is standard functionality.” To get the most out of your e-procurement implementation, Periscope suggests full financial integration to prevent hundreds of wasted manual data entry hours. Periscope has experience integrating to major ERP systems, accounting systems, and even homegrown mainframes. The majority of Periscope’s BuySpeed customers are fully integrated and can pull in account codes, do budget checks and push out ready-to-pay transaction files.
Gartner also recommended to, “Mandate employee e-procurement solution usage to maximize spending under management, and to achieve contract compliance goals.” Organizations realize the necessity of utilizing negotiated pricing agreements to drive bottom line savings. Full employee participation is required to manage all spend, not just a portion of your financial flow. BuySpeed clients who manage all spend experience higher savings and have greater financial insight for tactical planning and budgeting.
Gartner surveyed respondents to find out what improvements they would like to see in their e-procurement solution. The results revealed that improved ease of use and e-invoicing are the top two areas of interest for future investment. According to the report, “Prospective e-procurement solution buyers should favor vendors with recent investments in ease of use and e-invoicing, since these vendors are in touch with evolving market requirements.”
Periscope strives to develop contemporary software solutions that are as effective and user-friendly as possible, to maintain leadership in public sector e-procurement. Periscope’s seen a rise in consumer interest surrounding e-invoicing and has invested time and resources accordingly. E-invoicing completes the final step in automating the procure-to-pay process. Clients utilizing BuySpeed e-invoicing experience increased efficiencies, error reduction, faster settlement and improved visibility.
Supporting Resources
Analyst Report – E-Procurement by the Numbers (ID Number: G00223684)
Gartner reports are available at www.gartner.com (http://www.gartner.com).
All statements in this report attributable to Gartner represent Periscope Holdings Inc.’s interpretation of data, research opinion or viewpoints published as part of a syndicated subscription service by Gartner, Inc., and have not been reviewed by Gartner. Each Gartner publication speaks as of its original publication date. The opinions expressed in Gartner publications are not representation of fact, and are subject to change without notice.
