Financial services companies are sceptical of the benefits of e-procurement in HR, according to research by Highams Consulting.
It shows that 85 per cent of companies do not use e-procurement for HR, although interest is starting to increase.
E-procurement, which is the purchasing by departments of equipment and training via the company’s intranet, is only used by 25 per cent of banking HR teams. While 45 per cent of broking companies believe that e-procurement will improve HR’s effectiveness, only a small proportion of bankers and insurers agree.
Clive Williams, executive director at Highams Consulting, said, “There are many inefficiencies in organisations’ internal business processes, particularly in procurement. HR is an area where efficiency can be improved, however there appears to be a lack of knowledge amongst the retail and financial services organisations with regards to the benefits of e-procurement.”