The procurement challenges presented to modern business owners haven’t changed much over the years, but the solutions used to face them certainly have. Implementing an expensive ERP system (a challenge in itself) is no longer the go-to solution for addressing procurement issues.
Hani Abou, founder and CEO of Tradogram, was recently featured in an article by The Telegraph, showcasing an interview conducted by Business Reporter’s Alastair Greener about the Future of Business Management in 2019.
During the interview, Hani discusses a number of challenges which have been faced by business teams for years during the management of the procurement process, including:
Maintaining high-quality suppliers/vendors
Ensuring the best value for money
Achieving full transparency throughout the process
Facilitating smooth communication and proper documentation of data
Enhancing staff performance and work environment
“Most companies used to try implementing procurement software through ERP systems. Dedicated procurement software is less complicated, more affordable, and more comprehensive than what these systems typically offer.” -Hani Abdou
These issues sing true across a number of studies and reports presented online, including a top 6 list of procurement challenges compiled by the Chartered Institute of Procurement & Supply (CIPS) back in 2017, which emphasizes the consequences of neglected supplier management.
The unchanging nature of these problems that bar efficient, effective purchasing processes stand as a testament to the need for procurement solutions that are designed to address them.
Involved in the procurement sector since 1986, Hani originally founded Tradogram in 2014 upon discovering that affordable solutions to address his own challenges as a procurement professional weren’t being offered on the market.
Since then, Tradogram’s design has been focused on overcoming the top recurring challenges in procurement, including:
Planning and executing an organization-wide procurement strategy (How?)
Reducing the time needed to complete the procurement cycle
Training new procurement personnel on using a procurement system
Adhering to budget limitations to avoid overspending (Avoid these common pitfalls)
Exchange rate variations between multiple currencies
Getting higher management involved and convinced of the need for procurement software can often be an obstacle for organizations. However, a report by PayStream has indicated that this may change soon - with 55% of mid to large sized businesses adopting online procurement solutions.
The ability to address and overcome the most common issues faced by procurement professionals has become an easier task with the inception of accessible solutions for businesses of all sizes.
You can read the original article published by Business Reporter and watch the full interview featuring Hani’s address to procurement challenges in 2019 here. You may also be interested in browsing Business Reporter's January edition of their digital magazine, which features a section on procurement in its list of covered industries.