SIG Resource Center

What does a good software procurement process look like? - Vertice

As new technologies continue to emerge and companies look for ways to innovate and gain competitive advantage, it comes as little surprise that the average organization's software stack is growing by as much as 18% each year. But while procurement leaders are under increasing pressure to manage the sheer volume of tools now being subscribed to across the business, it's not the only challenge they have to contend with. Another major hurdle is the spiraling cost of these tools, with annual prices rising by an average of 12% and four times faster than general market inflation. Then, there's the increasing occurrence of maverick spending, an issue that's not only contributing to wasted spend, but also putting many companies at risk of security and compliance issues. The bottom line is, SaaS purchasing has become incredibly complex, time-consuming and often more expensive than it needs to be. So, what's the solution? What does a good software procurement process actually look like? Here's everything you need to know. 

Category Specific
Information Technology (IT)