First published on the Actuate blog on February 4, 2015.
Think back to the last big purchase you made. Maybe you bought or rented a home, purchased a car, or chose a new computer or mobile provider. If you’re a smart shopper, you considered your decision from many angles: Does the product or service meet my needs simply and elegantly? Is the manufacturer solid and reliable? Will my choice serve me well into the future?
We face similar questions when we decide on a third-party vendor to embed technology in the apps we build: Is the technology powerful enough? Is it easy to embed? Will the vendor be around in the future? Will the technology evolve and improve as my needs – and those of my customers – change over time?
Elcom International faced such a decision almost a decade ago. Elcom’s software product, PECOS, digitizes the procurement process; Kevin Larnach, the company’s Executive Vice President of Operations, describes PECOS as “Amazon for business,” with extensive controls and business process integrations required by leading governments, utilities, businesses and healthcare providers. More than 120,000 suppliers provide products in PECOS through Elcom’s global supplier network, and PECOS is used by more than 200 organizations worldwide to manage more than $15 billion in total spending annually.