Procurement Transparency: A challenge or an opportunity?

Across a wide variety of sectors, buyers of outsourcing are starting to expect more transparency each and every time they procure services.

This is partially due to the rise of online price comparison sites, frequently put to use by consumers making online purchases. Those responsible for procurement also use these sites, and they’re beginning to wonder why there’s no equivalent for real time pricing, ranking and reviews in their B2B procurement processes.

Many service providers would love to be entirely transparent in their procurement dealings. However, the process is currently extremely time consuming and frequently prone to human error.

Now technology is on the verge of permanently changing things for the better. Systems can automatically collect crucial procurement information on the supplier’s behalf, arming buyers with the most up-to-date supplier information concerning quality and pricing every time services are procured. Opportune – the cloud-based benchmarking and savings engine – is leading the way with this kind of technology.