When businesses brainstorm ways for maximising their ROI, they often resort to supply chain optimization, sales efficiency, and other oft–taken paths. While these are bedrocks for an organization's success, businesses can look elsewhere as well for a positive impact on their ROI.
IT procurement may not be at the forefront of every company's agenda, but adopting modern IT procurement practices can help a business increase their ROI by 3x.
Importance of IT Procurement
IT procurement plays a vital role in ensuring that a business has access to the technology and tools it needs to succeed. Procurement teams are responsible for selecting, sourcing, and managing the technology products and services that a business requires to operate efficiently. Managing thousands of computers connected to a single network at the same time is no mean feat. These teams must also ensure that the technology products and services not only meet the needs of the business, but also provide value for money.
Traditionally, IT procurement has been a complex and time–consuming process. The process involves multiple stakeholders, including IT teams, procurement teams, and suppliers, and can be challenging to manage. However, by adopting modern procurement practices and technologies, organisations can streamline their processes, reduce costs, and improve supplier relationships. This ultimately leads to higher ROI for the business.
