Resources

It’s Time Procurement Caught Up With The Fourth Industrial Revolution

Today, alongside the fourth industrial revolution, we have a fourth type of procurement software, particularly software-as-a-service (SaaS).

The big difference is that SaaS is intangible, invisible. In fact, the only place where you can be sure of noticing this category of spend is the dent it puts in your finances, after the fact.

No wonder that the senior director of IT sourcing at a Fortune 500 retailer called software “the silent killer of your company’s budget.”

Read more to learn how to approach SaaS procurement today.

Today, alongside the fourth industrial revolution, we have a fourth type of procurement software, particularly software-as-a-service (SaaS).

The big difference is that SaaS is intangible, invisible. In fact, the only place where you can be sure of noticing this category of spend is the dent it puts in your finances, after the fact.

No wonder that the senior director of IT sourcing at a Fortune 500 retailer called software “the silent killer of your company’s budget.”

Read more to learn how to approach SaaS procurement today.

Spend Management Is a Competitive Advantage

Companies are spending millions on growth software, but without intelligent spend management, they’re bleeding cash through inefficient processes. Prioritizing spend management delivers benefits across the entire organization, not just in finance. Yet, many businesses are quick to invest in sales and marketing tools while neglecting spend control—and that discrepancy is costing them. This report shows how modern spend management delivers greater ROI and helps you build the case for necessary resources.

99% of finance execs say spend management boosts efficiency.

Without it, you’re wasting time on manual tasks that could, and should, be automated.

78% of leaders link it directly to revenue growth.

Spend management isn’t just back-office—it's fueling top-line growth.

Companies using modern tools are 26% more confident in their operational efficiency.

Integrated systems mean better control, fewer errors, and more impact.

Drive savings and efficiency at any stage

Discover why hundreds of companies choose Tropic to gain visibility and control of their spend.