Law firms are increasingly interested in adopting procurement technology solutions, with a significant percentage planning investments in areas such as spend analytics, supplier relationship management, contract management technology, and invoice technology. These investments offer operational efficiency, risk mitigation, and improved client service, strengthening the procurement function's value within the organization. However, procurement leaders face challenges in gaining executive support, limiting their ability to serve as strategic partners. To overcome this, procurement leaders should align their goals with the firm's priorities, measure the impact of procurement investments, and regularly report the findings to stakeholders to demonstrate value and establish procurement as a strategic partner.
This article was originally published on SpendMatters.
- Cost & spend management
- Outsourcing
- Procurement
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