We use cookies and other similar technologies (Cookies) to enhance your experience and to provide you with relevant content and ads. By using our website, you are agreeing to the use of Cookies. You can change your settings at any time. Cookie Policy.

Power of SaaS Communities in e-Procurement

Editor's Note: Be sure to sign up for the upcoming SOA Governance Virtual Conference.


By now, everyone has heard of social networking and Web communities. Many of us use Facebook and LinkedIn and MySpace to build personal and professional connections. We rely on Wikipedia and other wikis for information, and make our own contributions. We share photos on Flickr, post videos to YouTube, read and write blogs, use bookmarking tools like del.icio.us and StumbleUpon, and subscribe to RSS feeds.



We participate in community Web sites and message forums to learn and share information on just about every topic under the sun — pet care, bobblehead dolls, classical music, Harley Davidson motorcycles, you name it. And many of us buy in a community model.

Amazon, for instance, is in effect a buy/sell community that leverages aggregated data to inform prospective purchasers what other like-minded individuals have bought. If you buy on Amazon, or research electronic products at Cnet.com, chances are you read reviews from other buyers. On eBay you check seller ratings.

Those reviews are critical to buyer satisfaction and the market success of sellers and their merchandise. That’s the power of community. It swaps out “me” for “we.” It puts a premium on collective intelligence in a participatory and distributed model available to anyone with an Internet connection, anywhere in the world, to the benefit of all.

While communities and social networking flourish, many enterprises continue to languish with basic business functions. Many small and medium enterprises (SMEs), for instance, rely on paper-based processes and costly, complex on-premise applications to run procurement. The problem isn’t just that conventional procurement results in high costs, inefficiency and wasted resources. Those are only the symptoms.

The core problem in SME procurement boils down to sub-par communication, information access and knowledge sharing — pretty much the polar opposite of consumer-oriented Web 2.0 communities, when you think about it. These issues afflict all parties in a procurement network — buyers, accounts payable managers, end-user employees, inventory personnel and suppliers. And they extend across each step in the procurement cycle, from requisitioning to purchase order management to receiving, inventory management and invoicing.

Thinking Outside the Procurement Box

-1-

1  2  3  4  

   Next Page

Explore Our Topics

  • EDITOR'S BRIEFING
  • Virtual Conferences
  • Webinars
  • Roundtables

BPM in Action

March 10, 2011

The sixth annual BPM in Action 2011 Virtual Conference will explore cutting-edge market developments in BPM and describe how to leverage them for improved business operation and performance. More

View All Virtual Conferences

Smart Case Management: Why It's So Smart.

Date:Nov 05, 2009
Time:12:00 PM ET- (17:00 GMT)

REGISTER TODAY!

Date:Oct 29, 2009
Time:15:00 PM ET- (19:00 GMT)

REGISTER TODAY!
View All Roundtables
  • Research Library
  • Podcasts
  • News

Joe McKendrick: Part II of II: Designing Evolve-ability into SOA and IT Systems

In part two of Joe McKendrick's recent podcast with Miko Matsumura, chief strategist for Software AG, they talk about how SOA and IT systems need to change and grow and adapt with the organization around it.

Listen Now

Phil Wainewright: Helping Brands Engage with Social Media

Phil Wainewright interviews David Vap, VP of products at RightNow Technologies, and finds out how sharing best practices can help businesses understand how best to engage with online communities.

Listen Now

Peter Schooff: Making Every IT Dollar Result in a Desired Business Outcome: Scott Hebner of IBM Rati

Scott Hebner, Vice President of Marketing and Strategy for IBM Rational, discusses a topic on the top of every company's mind today: getting the most from IT investments.

Listen Now

Jessica Ann Mola: Where Will BI Fit In? Lyndsay Wise Explains

In BI, this tough economy and the increasing role of Web 2.0 and MDM are certainly topics on people's minds today. WiseAnalytics' Lyndsay Wise addresses each of them in this informative podcast.

Listen Now

Dennis Byron: Talking with...Deepak Singh of BPM Provider Adeptia

Deepak Singh, President and CTO of Adeptia, joins ebizQ's Dennis Byron in a podcast that gets its hand around the trend of industry-specific BPM.

Listen Now
More Podcasts
  • Most Popular
  • Quick Guide
  • Most Discussed

Quick Guide: What is BPM?

Learn More

Quick Guide: What is Event Processing?

Smart event processing can help your company run smarter and faster. This comprehensive guide helps you research the basics of complex event processing (CEP) and learn how to get started on the right foot with your CEP project using EDA, RFID, SOA, SCADA and other relevant technologies. Learn More

Quick Guide: What is Enterprise 2.0?

A lot of people are talking about Enterprise 2.0 as being the business application of Web 2.0 technology. However, there's still some debate on exactly what this technology entails, how it applies to today's business models, and which components bring true value. Some use the term Enterprise 2.0 exclusively to describe the use of social networking technologies in the enterprise, while others use it to describe a web economy platform, or the technological framework behind such a platform. Still others say that Enterprise 2.0 is all of these things. Learn More