Zycus and MSU Collaboratively Uncover the Challenges and Opportunities of Implementing Procurement Technologies
06 March 2015 - 1:30AM
Business Wire
Zycus, the leading source-to-pay procurement solutions provider,
in collaboration with Michigan State University (MSU), announces
the release of its comprehensive research study titled ‘The Drivers
and Barriers to Effective User Adoption of Procurement
Technologies.’
Based on a two-phase industry study conducted by Zycus and
Michigan State University, this research report authored by Dr.
Tobias Schoenherr, Associate Professor of Supply Chain Management
at Michigan State University combines interviews with leading
procurement practitioners and a comprehensive survey that garnered
over 140 responses. Some of the key findings from the study
include:
- Procurement professionals overall,
believe that enabling procurement technologies (EPTs) are highly
useful business tools. Respondents suggested that these
technologies facilitate improvements in personal performance,
productivity and effectiveness on the job.
- By far the leading motivator driving
organizations to adopt EPTs is a desire for better internal
integration and visibility.
- The most common EPTs currently in use
are spend analysis, financial savings management, and contract
management.
- The greatest challenges organizations
face in adopting and implementing EPTs included: staff preferences
for legacy systems, issues in change management, the demand for a
user-friendly environment, a lack of time permitted to learn the
new system, perceived loss of control, and technology being seen as
an expense rather than an investment.
- The report uncovers that once an EPT
has been implemented, additional adoption challenges can emerge.
These include the fact that the full capabilities of the system are
often not realized by users, specific reporting functionality is
not always offered, high supplier interface costs and data validity
issues.
- Companies are addressing these
challenges by implementing both formal and informal training
sessions, actively promoting success stories and demonstrating the
specific benefits of these systems.
Speaking on the release of the new report Zycus VP of Corporate
Development, Richard Waugh said, “As part of our ongoing commitment
to furthering best practices in procurement, we’re proud to release
this study in collaboration with MSU.”
“There is a lot of positive feedback that many firms are already
reaping the benefits of well implemented procurement technologies
and that’s fantastic to hear. We have also uncovered some of the
pain points around implementation which should help guide firms
that are looking to implement procurement technology in the
future,” Waugh said.
Discover the 12 key drivers and 16 major barriers to user
adoption in the exhaustive Zycus-MSU collaborative research report.
Access full report here.
About Michigan State University
The nation’s pioneer land-grant university, MSU is one of the
top research universities in the world. Home to nationally ranked
and recognized academic, residential college, and service-learning
programs, MSU is a diverse community of dedicated students and
scholars, athletes and artists, scientists and leaders. The
department of Supply Chain Management in the Eli Broad College of
Business has been ranked No. 1 four years in a row by US News &
World Report.
About Zycus
Zycus is a leading global provider of procurement software suite
comprising of modules for both the upstream and the downstream
parts of the Source-to-Pay cycle. Our product portfolio
includes applications for strategic procurement- Spend Analysis,
eSourcing, Contract Management, Supplier Management and Financial
Savings Management and operational procurement- eProcurement,
eInvoicing. Our spirit of innovation and our passion to help
procurement create greater business impact are reflected among the
hundreds of procurement solution deployments that we have
undertaken over the years. We are proud to have as our clients,
some of the best-of-breed companies across verticals like
Manufacturing, Automotive, Banking and Finance, Oil and Gas, Food
Processing, Electronics, Telecommunications, Chemicals, Health and
Pharma, Education and more.
To learn more about the Zycus, address e-mail to
information@zycus.com or visit http://www.zycus.com/
Zycus Inc.Priyanka Potdukhe, 1-866-563-9219Manager- Public
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