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Procurement technologies, intended to facilitate and support the sourcing and management of goods and services, have evolved significantly over the last 15 years. However, the effective adoption and use of electronic procurement technologies (EPTs) is still a “black box” for many companies, and postulated benefits remain elusive. Many practitioners are overwhelmed by the proliferation of EPT offerings, are faced with user adoption resistance, and are questioning the efficacy of EPTs.
To address these challenges and to provide insight into the current state of EPT adoption, a two-phase industry study was conducted by Zycus and Michigan State University. The Study consisted of a series of in-depth interviews followed by wide-ranging surveys with procurement leaders. The results provide insights as to the drivers and barriers of user adoption, types of EPTs being utilized, adoption best practices & leading performance metrics.