STEP CHANGE: How Business Networks are Changing the Procurement ParadigmDecember 7, 2012 Blog
Industry analysts are seeing a paradigm shift in the way trading partners communicate, transact, and collaborate and Business Networks are at the core of this shift. There is much discussion by analysts around the evolution of Business Networks moving from a transactional platform to a more innovative and collaborative platform, providing real-time data through trust relationships versus old fashioned data transfers.
Given the amount of time and resources that are invested in mapping and exchanging data in the procurement arena, it is not surprising that best-in-class procurement professionals leverage the intelligence and efficiency of business networks, with usage growing on average 20% year on year.
Ardent Partners research found in its CPO Rising 2012: Keeping Score survey that 42% of all procurement departments report that business networks have had either a critical or significant impact on their business. In their recent research,Ardent Partners found that procurement departments are using business networks more frequently and achieving greater results from their usage. Read more on Ardent Partners’ insight into the business network trend.
On December 13th, Andrew Bartolini of Ardent Partners will discuss How Business Networks are Changing the Procurement Paradigm on a live webinar.