| There is an increasing pressure on cost efficiency within the enterprises. Partners and regulatory bodies are plagued by need for transparency in procurement process to effectively manage production sharing agreements. Complex and voluminous purchase requirements are driving niche investments in procurement analytics and eProcurement. With EP reaching unexplored territories, connecting to existing supplier base effectively through electronic commerce is attracting investments. Global supply chain, supplier management, rationalizing supplier base and cost, while maintaining transparency in procurement practices are emerging reasons cited as investment benefits by the buyer community. eAuctions are gaining in volume.
However, the implementation of eProcurement is encountering extreme scenarios from the perspective of design, implementation etc. While some of the ERP vendors offer limited extended enterprise capabilities, any successful implementation of eProcurement is still driven by process improvements/reengineering, phased approach, cultural changes, strong functionality and interface capabilities. Most of the asset management vendors provide strong eProcurement capabilities thus continuing the ever increasing complexity in the replacement market. |