target audience: TECH BUYER Publication date: Sep 2022 - Document type: IDC Perspective - Doc Document number: # US49669322
Five Key Learnings for Procurement Application Providers from the Procurement SaaSPath Survey
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Abstract
This IDC Perspective highlights the five key takeaways for procurement application providers from IDC's Procurement SaaSPath Survey. Survey respondents to IDC's 2022 Procurement SaaSPath Survey still find it difficult to perform procurement/spend analytics, which indicates that customers and buyers remain hungry for clean, transparent tools that support these capabilities. Despite the enhanced capabilities of procurement application tools, customers are not finding their needs met. We are still early in the digital procurement transformation and it is clear that the opportunities for procurement teams to leverage technology are expanding. Procurement vendors have much to do to answer that call.
"We drew many valuable insights from the respondents to IDC's 2022 Procurement SaaSPath Survey. We continue to see the themes of "easy" and "simplicity" rise to the forefront, particularly as they pertain to integration and implementation. Procurement needs help conducting analytics and is willing to pay more for the advanced functions of autonomy, intelligence, and AI/machine learning." — Patrick Reymann, research director, Enterprise and Procurement Apps, at IDC