Procurement decision makers expect predictive analytics and IoT to have biggest technological impact – says survey

Xchanging plc, a business technology and services provider, has issued the third set of results from its 2015 Global Procurement Study, focused on how technology is transforming supply chain operations. The study is a major international project that surveyed 830 procurement decision makers across the UK, Europe and North America.
Savings tracking (77%) and spend analytics (76%) technologies are the most widely implemented, in the context of a tough economic climate where spending cuts and streamlined processes remain a priority for businesses. This mirrors respondents stated priority key performance indicator (KPIs), the top four all being cost related (47% cite cost savings realised as their most important KPI; 19% revenue impact, 16% cost savings identified and 14% cost avoidance).