Webinar Notes: The Future of Procurement Technology:  Portable, Powerful, Pivotal

This week’s webinar notes are from a July 25th webinar hosted by the Next Level Purchasing Association and presented by Santosh Nair, GEP’s Vice President of Client Services and Innovation. Although the on demand version is only available to NLPA premium members, you can read what they had to say about SMART by GEP in this recent blog post.

Despite the changes being seen in the consumer technology marketplace, enterprise solutions have been slow to take advantage of the growing availability of mobile technology. As demand increases for Smartphone and tablet solution accessibility, enterprise solutions in general, and procurement solutions in specific, will need to change at a rate faster than they have in the past.

Being a large solution provider is no longer the advantage it used to be. Instead, companies are trying to work like their smaller entry-level competitors (or the earlier version of themselves) in order to reap the benefits of an entrepreneurial mindset.

The procurement domain is as subject to disruptive technology as any other. These disruptions are likely to come from four main sources:

Procurement is stuck in old technology, and is not embracing mobile and social capabilities proactively, despite the potential improvements to cost and adoption.

According to Nair, the current state of procurement technology includes:

But despite the fact that these performance levels are perceived by many to be best in class, Nair believes it is not good enough, as it leaves several gaps that lead to diminished performance and lost opportunities:

Has your procurement organization embraced the use of mobile and/or social technology? What disruptive forces do you anticipate? Join the conversation by commenting below or on Twitter: @BuyersMeetPoint.