Zycus and Michigan State University Launch an Extensive Study on Procurement Technology Adoption

PRINCETON, NJ September 11, 2014 – Zycus, a world leader in Procurement Technology solutions across the source-to-pay cycle, announced today that it has embarked on a major new procurement technology (PT) research initiative in collaboration with Dr. Tobias Schoenherr, Associate Professor of Supply Chain Management at the Broad College of Business, Michigan State University.

“Procurement technologies have evolved significantly over the last 15 years, and new applications are constantly being developed,” observes Dr. Schoenherr. He notes, however, that many companies remain challenged with obtaining initial funding, widespread user adoption or significant measurable ROI in relation to procurement technology investments. The study is, therefore designed, to provide insights on:

• The impact of procurement technologies on firm performance.
• Best practices for driving user adoption of new technologies (among both internal users and suppliers).
• End-user satisfaction and productivity metrics attributable to technology adoption.
• Key user-identified gaps in current technology and prioritized roadmaps for future enhancements.
• Environmental characteristics (contingencies) that heighten the impact of procurement technologies on firm performance

Intelligence gathered in Phase 1 has been used to inform and generate a broad-based study questionnaire for Phase 2, which is currently being deployed to procurement professionals across North America. Assoc. Professor Dr. Schoenherr will produce a detailed report of study findings.

Phase 1 of the study – based on in-depth interviews with organizations identified as leading adopters and advanced utilizers of procurement technologies – has already been completed. Intelligence gathered in Phase 1 has been used to inform and generate a broad-based study questionnaire for Phase 2, which is currently being deployed to procurement professionals across North America.

Assoc. Professor Dr. Schoenherr will produce a detailed report of study findings. The survey participants will receive an exclusive copy of the report well in advance of its public release. As an added incentive to accelerate data gathering, one lucky respondent will win a Kindle Fire HDX and the first 35 to complete the study’s Phase 2 questionnaire will each receive $25 amazon gift vouchers.

“As a company that is 100% committed to procurement-led business performance improvement, we invest heavily not only in developing great solutions, but in thought-leading research to empower CPOs and their teams to obtain maximum ROI from their procurement technology investments,” says Zycus CEO and founder Aatish Dedhia. “By partnering with Michigan State University, we ensure the research is objective, relevant, rigorous and statistically significant. We look forward to sharing the resulting intelligence with all who give so generously of their time to make such in-depth research endeavors possible.”

Learn more or participate in the study here.