In Part I of this series, we looked at how and why Best-of-Breed systems in procurement are replacing legacy ERPs. In Part 2, we look at some of the most significant improvements CPOs can expect from their teams when choosing Best-of-Breed solutions.
7 Best-of-Breed Benefits
CPOs are under immense pressure to step outside their comfort zones and develop modern, efficient procurement teams that do more than keep accounts and produce occasional reports
Here are 7 significant benefits CPOs can achieve by adopting Best-of-Breed procurement solutions:
- Repetitive tasks are automated – teams are freed from tedious spreadsheets and manual reporting duties.
- Fewer opportunities for “human error” – another benefit of automation is the elimination of any potential human errors. Advanced machine learning and AI allow these systems to produce error-free work while seeking out and highlighting any other existing inconsistencies.
- A happier team – most teams don’t enjoy the boring and repetitive tasks that are easily accomplished using automation technology. Team members often prove to be much happier and more engaged as their daily work becomes more dynamic.
- Improves siloes & organizational transparency – data is fully integrated, meaning teams can communicate more effectively and interact more efficiently – both within departments and throughout the organization.
- A value-added approach – being freed from manual reporting tasks means there is a lot more time for teams to get back to the basics – focusing on building great supplier relationships and other ways to measurably improve the value generated through the department.
- A strategy-based approach – instead of a centralized strategy from the top-down, teams have more time to help develop, analyze, and perfect departmental strategy.
- Procurement recognized – leadership tends to recognize, appreciate, and reward the contributions delivered by dynamic procurement teams performing at their full potential.
Teams Want CPOs To Empower Them
Let’s face it, most employees don’t enjoy spending a significant portion of their time performing tasks that can be done faster and more efficiently through automation.
By failing to use this technology, it gives the impression the organization is backward-thinking or not willing to invest in its own processes.
Not only does this deteriorate employee morale, it also significantly decreases overall efficiency.
Your employees want to be a part of the wave of the future. They want their efforts to make a real difference in your organization. They want to be empowered to make a real difference!
A Simple Solution (No Reinventing The Wheel Required)
Corporate leadership increasingly expects top CPOs to harness the power of modern technology and artificial intelligence to build a more integrated, efficient, and effective team.
Amazingly, most of this can be accomplished by integrating Best-of-Breed software that sits on top of your current ERP and delivers custom-tailored functionality where your team needs it most.
In Part III of this series, we’ll be looking at how choosing Best-of-Breed systems directly benefits CPOs and other C-Suite Executives.