3 Stages of Enterprise Procurement Technology Implementation

Succeeding in every phase to realize the maximum benefit.

When you’re trying to implement enterprise procurement technology, other somewhat related challenges have a way of floating to the surface. Many of them have been around for a long time, festering quietly in corporate silos, and any one of them can act as a barrier to forward progress and expanded visibility.

The most likely culprit is process inconsistency, especially when it is made worse by inefficient, manual efforts and poor internal communication. Add an additional factor like elevated supply chain risk, accelerated corporate growth, or strict regulatory requirements and the whole implementation may seem in question. That said, the scope of the challenge usually matches the extent of the need. Procurement’s leadership is required to push through and make the necessary changes.

There must be one standard, centrally managed process in order to realize the maximum benefits of enterprise procurement technology. Fortunately, being able to put enterprise-wide spend data in the hands of budget owners and decision makers is a powerful achievement. One that is well worth the effort. Let’s take a look at the three stages of making that happen.

Enterprise Procurement Technology Implementation Phase 1: What do we need?

There is no shortage of enterprise procurement solutions to choose from. Selecting the right one starts with an honest understanding of where your company is today and what you need from the technology. Internal discussions at this phase of the project should include:

• Building a functionality wish list that includes input from all teams and individuals that will interact with the system.
• Considering whether the company is open to working with multiple, integrated solutions or if one end-to-end platform is best.
• Discussing the desire to integrate enterprise procurement with other core systems already in place.
• Deciding if you want a system that is configurable or one that is fully customizable.

Enterprise Procurement Technology Implementation Phase 2: Can we get people to use it?

It is absolutely critical to communicate with stakeholders across the organization about what the platform will do for them, how using it will benefit them, and why they should start using it as soon as possible.

Post-implementation outreach, including user training, is a critical outreach opportunity for procurement. They should play a role in training each group of users and consider how they will interact with the information and functionality the system provides. Recognizing their unique use cases (How will they use the system and what kinds of things will they buy?) increases adoption from the outset and cements a positive relationship with procurement.

Enterprise Procurement Technology Implementation Phase 3: What improvements do we expect to see?

Having greater visibility into what the company is spending, what they are spending it on, and who they are spending it with allows for better decisions. People can be held accountable to their project budgets and the number of third parties working with the enterprise can be rationalized or “right sized.”

In addition, the benefits of enterprise procurement technology are not limited to savings and spend management; Anything that is processed using the platform can be tracked, reported on, and improved. For instance, how has the speed and/or accuracy of invoice processing changed? Remembering to include the impact of additional process efficiencies in ROI calculations captures the full benefit of the company’s investment.

Successful implementation process = sustainable business results.

As much as the focus of any implementation tends to be on changes to process and technology, people are at the heart of the opportunity – individually and collectively. Procurement needs to socialize change throughout the organization and work to secure active buy in from their stakeholders. That way they can ensure that the right tool for procurement is also the right tool for the business.

Experience for yourself how procurement on the Corcentric Platform is the right tool to help you achieve success at every stage of your process – schedule a personalized demonstration.