Ongoing supply chain hiccups are a prime culprit in how fast companies of all size can build or expand B2B ecommerce.
The 2022 State of the Supply Chain Report, released this month, notes that more than 80% of suppliers say they lack access to fully automated systems for processing invoices or requests for proposals submitted by either existing buyers or potential customers. At the same time, however, 43% of suppliers cite the management of RFPs and invoices — crucial steps for landing new business and maintaining cash flow — as the processes offering the most benefits through automation.
“A lack of widespread automation on the supply side is creating inefficiencies that could stall broader progress and inhibit suppliers’ growth and performance,” says Georg Roesch, vice president of direct procurement strategy at Jaggaer, which released the study. “True supply chain transformation requires a fully digitalized and frictionless commerce experience for both buyers and suppliers.” Jaggaer is a provider of online procurement technology.
The study also found:
- 73% of suppliers say that shortages of products and materials are having a major impact on their business; other top challenges including inflation, cited by 69%, strained production capacity (53%) and geopolitical risks (50%).
- 59% of suppliers cite having a central commerce hub providing access to buyers as vital to improving business, followed by benchmarking data for competitive comparisons (57%) and automated workflows to improve collaboration (48%).