Tag: vendor management

The IT sector frequently embraces concepts such as the circular economy, sustainability, and ESG. Yet in practice, too many organisations still purchase, deploy, and discard technology with little regard for what follows. The uncomfortable question remains: who takes responsibility for the old equipment when the work is done?

Everyone understands that, in order for a retailer to be competitive, it must invest in the best technology to remove friction for customers and employees. Retailers must also provide the agility and capability to take advantage of big events such as Black Friday, improve operational efficiencies, and build long-term customer loyalty. However, many retailers have discovered that a technology solution decision is far more complex than it would seem. Therefore, instead of simply adopting new technologies, they should be investing in self-enablement.

While the property industry globally has traditionally been a laggard when it comes to the use of technology, focusing more attention on assets such as physical buildings rather than technology, this has rapidly changed. A growing number of businesses are now introducing technology platforms and solutions to enhance the client-tenant experience and to ensure more informed investment and property management decisions are made.

In 2021, the global procurement as a service market was valued at approximately US$ 6.3 billion. Given that the market has a projected compound annual growth rate of 7% for the next 10 years, experts forecast that the market is likely to reach a valuation of US$13.3 billion by the end of 2032.

Under Protection of Personal Information Act (POPIA), service providers will have to obtain a SOC 2 report to demonstrate to their clients that they are enforcing proper security and data privacy practices. Over 80% of private, SMME and large companies plan to revise their operations in the next few years.