Companies seem to be doing a pretty good job these days of leveraging their buying power and negotiating favorable pricing. Especially in these economic times, sourcing initiatives have been very successful.

There are any number of tools and techniques available to achieve these results. eSourcing, eRFX, and consortiums are just a few examples of how lower prices are being negotiated.

Companies recognize that realizing actual savings is another matter — eProcurement systems must provide a way to ensure that employees are taking advantage of the great pricing that has been negotiated.

Maverick buying is still a challenge for many companies. Integrations of Contract Management systems with traditional eProcurement systems is fast becoming the next frontier for profits in the P2P world.