Spend Management Technology Trends

What Are Today's Trends In Purchasing Technology?
In the late 1990's, purchasing saw a rapid influx ofimpressive technology solutions. The dot-com bust obliteratedmany of the solution providers and their technologies, butwe're now once again seeing advances.
While the late '90's were characterized by niche providers,today's providers are offering technologies that combine manyof those specialized capabilities in a multi-purpose,integrated offering increasingly known as Spend Managementtechnology, which encompasses:
eProcurement - eProcurement systems bring the ease of a retailshopping experience to corporate procurement. Users browseonline catalogs of pre-approved goods and services fromcontracted suppliers. The requisition to payment process isfully automated.
eSourcing - eSourcing allows suppliers to access all RFPmaterials online and submit their proposals using onlineforms. Purchasers can view and analyze supplier submissionsvia a Web browser. Reverse auctions allow suppliers todynamically improve their proposals after seeing theirrelative rank or the bids of competitors.
Spend Analytics - Analytics modules make it easier forpurchasers to segment their purchases by categories and accesscategory-specific information such as the amount spent, thenumber of suppliers used, and more.
Supplier Management - Modern systems capture supplierperformance data and allow purchasers to run queries toidentify suppliers' on-time delivery performance, qualityhistory, and other metrics.
With the evolution from best-of-breed models to a one-stop-shop for all Spend Management needs, you're likely wonderingwhat the future holds for technology. "I'm impressed with theprogress ERP providers are having on the eProcurement side ofthe equation," said Jason Busch, Managing Director of AzulPartners and editor of the blog www.spendmatters.com. "I'mequally impressed with how best of breed vendors are breakingnew ground on such areas as supplier performance management,supplier operational and financial forecasting, sourcing andbid optimization, category management, and services SpendManagement."