An effective cloud based Source-to-Contract (S2C) tool can be your saving grace during a crisis like this. Securing your supply chain is a constant struggle, so we've put together a list of questions to ask during your search.
Let's begin with the facts. Best-in-class organizations use S2C technology up to 400% more than all others. On average, this helps them achieve:
- 89% spend under management vs 51% all others
- 12.8 % realized annual savings vs 5.6% all others
- 82% on time delivery of projects vs 59% all others
- 50% reduction in administrative contract management costs compared to all others
Sources: Aberdeen Group & Goldman Sachs
While there is no shortage of S2C or upstream procurement tool providers, it can be a challenge to identify the ones that will actually enable your organization to function as more than just a an expensive file sharing platform.
Questions to Ask When Searching for a S2C Tool:
- Ease of Use – Always ask for a demo to see if the platform is user friendly. Widespread user-adoption is extremely important, and that will only happen if your team members find the tool to be easy to use. User friendly UI/UX is also important for suppliers and other stakeholders who will be using certain functions.
- Barrier to Entry – How much time does it take from implementation to full operation? At Scanmarket, we have gotten the implementation time down to 48 hours.
- Customization Options – Are you just a small fish in the provider's sea of multi billion dollar companies? Or, will the provider listen to your feedback and offer customization options to fit your needs?
- Support – Does the provider offer local support teams that understand your line of business, your language and whatever local challenges you might have?
- Implementation Process – Does the provider have a tailored implementation approach or is it one size fits all?
- Training – Do they offer access to initial and continuous training? Does the provider take on the responsibility of ensuring that you know and learn how to use every corner of the system?
- What is your gut feeling? Do you feel like this provider will give you the ROI you are looking for? Does it feel like they care about your success?
At Scanmarket we have a well defined process for on-boarding new clients on our S2C platform. However, no two businesses are alike, so we always tailor the process to the specific needs of the client. Read more about our implementation process here.