Based on recent research conducted by Art of Procurement and RFP360, 65.8% of procurement teams – nearly two-thirds – are using “productivity applications” to run their RFxs. Of that group, half of them do not use any other solution to support their sourcing activity.
So what is a productivity application?
Productivity applications include Excel, Word, email, Google Docs, etc. In other words, the same tools we’ve been using for years. They are accessible, convenient, and decidedly non-optimal for running RFxs.
For the half of the group who use productivity applications even though they have a sourcing solution, the decision is likely to be based on short-term perception of what’s ‘best.’ The problem is that over the long term – or even the course of the sourcing project – there are many times when that approach is no longer anything close to ‘best.’
Common challenges associated with using productivity applications to run RFxs include:
- Spreadsheet version tracking and completed document storage
- The time required to complete analysis for supplier feedback or award scenarios
- Category knowledge retention beyond the end of the sourcing project and through the life of the contract
This is just one example of what we learned from our research into Request Management, the practice of gathering all forms of structured data from partners and suppliers.
Download your copy of the full report today: Where Procurement Performance and the Supplier Experience Meet: Understanding the Opportunities Associated with Improved Request Management.