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“The Futurum survey revealed that enterprises with 50,000 or more employees need at least 11 corporate executives to sign off on a typical procurement,” said Shelly Kramer, principal analyst and founding partner at Futurum Research. “This raises an alarm as nearly one-third of respondents acknowledged that a lack of group consensus is a major impediment or risk to successful procurement of enterprise software solutions.”
Among some of the other key findings of the Futurum Research survey, a majority of respondents said they have changed their business models during the past two years, with 39 percent reporting the changes as “significant.” Nearly half said software or solution needs also have significantly changed during that same period. As a result, most decision-makers are targeting ways to streamline the procurement process. The current process has failed to work sufficiently for more than a quarter of the survey participants.