Technology is a central catalyst for change in organizations of all shapes and sizes. I remember the tedious process of preparing an organization for the implementation of a new CRM system back in the early 2000s. I also remember the insights that system brought to the sales, marketing and customer support teams that made the company more profitable over time. And while that process of implementation, training and support was tedious, it was worth it. The technology changed our business. It helped us do more with less.
In the procurement department, technology enables change that can improve communication with suppliers. The right solutions make it easier to track performance and develop more ideal risk management tactics. These are great results of technological innovation that we’ve witnessed in recent years, but what will be the #1 supply chain technology trend for 2017?
Supplier and Customer Insight and Support
Technology has changed the way we collect data. In the past, companies utilized data to better themselves. At getSayDo, we’re helping companies collect and share insights with their suppliers. Instead of talking about what suppliers can do to improve business, our partners learn what they can do to help their suppliers (which, in turn, improves business for all stakeholders).
Ultimately, the more you know about a supplier, the better decisions you can make. The better you can control the budget and manage operations. There’s no such thing as “knowing too much” about your supply base. Improved insights allow for better communication, increased productivity and improved bottom lines.
Data gathered through technology enables organizations to analyze trends more quickly, allowing for better decision making regarding supplier relationships.
Technology is essential, but many procurement pros are reluctant to adopt. Because technology is constantly evolving, there’s always a risk that companies face when deciding which system to use or what app to install: how long will it take for this to be outdated? Are newer, better tools coming? How soon?
The key is to have in place a systematic method for better understanding your suppliers (and vice versa) and staying relevant and competitive in today’s fast moving business world.
So where do you start?
I’m glad you asked. Take a moment to download our free whitepaper to learn more about getSayDo and our solution to supplier-customer relationships. It’s a quick introduction to 360-degree supplier relationship software. And while we exist thanks to some pretty fancy technology, we aren’t going out-of-date any time soon. You can even test drive us for free to experience for yourself the power of supplier-customer alignment. It doesn’t take much to get started.