Every growing company reaches a point when transaction volumes overwhelm misapplied IT systems and manual business processes. It’s apparent when executives and other key stakeholders spend more time searching to identify suppliers or sifting through email threads for key documents like contracts, which might actually be stored elsewhere because the staff doesn’t have a centralized system. When procurement processes become overloaded like this, businesses become at risk — they face risks such as renewing contracts with suppliers who don’t meet performance criteria or don’t have updated insurance documents, or the risk of missing out on a more competitive offering because the best suppliers were unaware of your RFP. KEY CHALLENGES • Disconnected sourcing and supplier manageme

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