Supplier Performance And Risk Are Top Of Mind — Can Software Solutions Help?

In the current economic conditions, it's no surprise that supplier performance management (SPM) is the fastest-growing category of ePurchasing software. Companies desperately need a way to pinpoint their underperforming and risky suppliers and take appropriate action. The challenge is that while the SPM solutions on the market today can help collect the data and score the suppliers' functionality, they have a limited capability to manage a more complete risk profile. On top of that, vendors are still saddled with blocking and tackling issues like usability, a lack of functional depth, and spotty best practice support. The vendors are rallying, and next-generation solutions are on the horizon, but what can buyers do in the meantime? Given the current state of affairs there's not a perfect solution but taking a risk on emerging vendors or building over buying are options to consider.