Minhan added that the chief culprit is that most e-procurement users have dedicated insufficient resources to enabling and managing product content in an electronic catalog. The ability to quickly and easily load, cleanse, standardize, normalize and maintain that data is critical to success.
"Enterprises that select the appropriate tools and dedicate sufficient resources to managing product content effectively are more likely to receive the supplier cooperation required to achieve greater returns from their e-procurement investments," he predicted.
The survey was conducted in January at a two-day meeting of the ePlus Content Advisory Council. Participants included representatives from Fortune 500 firms and other large organizations who assist ePlus in determining the product content management functions required for effective e-procurement and spend management programs. The majority of respondents have more than 20,000 employees.