ASSET OR OBSTACLE?
Will Technology Support Oil & Gas Procurement Teams During Operation Epic Fury?
Despite AI and cutting-edge procurement technology, assessing and onboarding contractors is a top challenge for over 50% of procurement teams.
Here’s how procurement technologies are helping (and holding back) oil and gas procurement teams during Operation Epic Fury.
Advanced Technology. Persistent Problems.
What’s really going on?
High Procurement Technology Adoption
Today’s procurement teams use the latest and greatest tools and technologies.
71%
Use Contractor Risk Management Technologies
Use Contractor Risk Management Technologies
65%
Use Artificial Intelligence & Analytics
Use Artificial Intelligence & Analytics
64%
Use ERP Solutions
Use ERP Solutions
Too Many Tools?
Over 50% of procurement teams use 5 different tools to assess contractor, vendor, and supplier risk.
60% Spreadsheets
51% Physical/Onsite Audits
44% Home-Grown Solutions
60% Public or Subscription Online Data Bases
Too Little Time?
Only 35% of procurement teams assess contractor qualifications in less than 1 business day.
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