What if you could improve your procurement efficiencies while developing talent? Two birds, one stone?
Talent gap is still a concern to many procurement organizations. While the gap has closed in the last few years, research and experts agree that the problem is not going away any time soon. As the procurement function is asked to do more, I’d like to offer some examples for how digital transformation in general and implementation of a suitable eprocurement solution can help with this issue. The below are mostly derived from Eyvo’s user feedback and customer support issue analysis.
Skill gap exists on both technical, functional, and interpersonal levels. Normally, a company would hire new talent for the missing skills, provide internal training programs or pay for external development. We saw our clients gain on every aspect, some in a short time, some gradually. Examples include:
Technical savvy – by using a new software, there is a natural learning that takes place
Communication – our solution connects departments which encourages the frequency and quality of collaboration
Analytical thinking – exposure to comprehensive summary data fosters pattern recognition and consequent analysis-based actions
Our data shows that Eyvo clients tend to ask more complex questions less frequently over time. This indicates increased knowledge both on the technical skill level as well as procurement specific functional aspects. Examples include:
Supplier management – supplier performance and price analysis provide data driven decisions and actions rather than depending on historical practice or ‘gut feel’
Understanding other departments – procurement staff gains understanding of others’ pain-points and internal processes by the vehicle of interaction through the purchasing process
Eyvo’s clients have various strategies to tackle their most pressing needs. Examples include:
Resource allocation – allowing users different privileges to match them with their technical and functional skills, thereby saving time and optimizing efficiencies
Integration of departments – when non-procurement functions like finance, sales, marketing, and production participate, collaboration and ideas generate increased business value
Ecosystem – using our solution to its full potential allows our clients to have a significantly more efficient and collaborative relationship with suppliers that result in savings of many kind
eProcurement investment: training, resource allocation, insight
Making the investment in an appropriate procurement solution can help closing talent gaps. Whether it is training or interdepartmental communication, eprocurement provides benefits beyond efficiencies. The right solution can foster learning on both individual and organizational levels. The visibility of data naturally increases analytical thinking and evaluation of current practices. Change in processes and resource allocation (talent or funds) is often prompted by emerging user trends.
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