What is preventing technology adoption in procurement? (Part 1)

  • “Dirty” data
  • Poor integration across different systems or applications

Quality and availability of data

  • No standardisation: different data formats, structures etc.
  • Validity and accuracy: incorrect, incomplete, out-of-date information

Poor integration across systems or applications

From a technological angle

From a practical angle

  • Lack of data visibility across different third-party risk management stakeholders, e.g. procurement, legal, engineering etc.
  • Important decisions made in silos, increasing risk exposure
  • Supplier disengagement: time could be spent on value-add activities instead of repetitive data entry across different tools

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Felix

Felix

Enterprise marketplace platform that connects orgs & their supply chains. www.felix.net