IT Procurement: Definition, Types, and Benefits

Inefficient procurement processes cost American and Canadian companies over $1.5 billion annually. 

This suggests that inefficiencies remain costly despite procurement's critical role in most organizations' day-to-day operations.

The solution? Structured IT procurement with water-tight processes. But there’s a lot involved there—vendor management, budgeting, needs assessment, and much more. 

We know it’s not half as simple as it sounds.

So, we designed this IT procurement guide to show how you can make the process less intimidating. Read on.

TL;DR: 

• IT procurement is purchasing and implementing information technology per your organization’s policies.

• There are many different approaches to procurement in IT. You can directly contact suppliers and vendors or delegate the task to a third party to assess needs and find appropriate deals.

• Needs assessment is the first step towards formulating a procurement plan that works for your organization. 

• When carried out properly, IT procurement can provide better returns on operational expenses, reduced resource drainage, and hassle-free management of all organizational assets.

• Workwize simplifies IT procurement by shipping equipment directly to your employees, warehouses, or offices. Our centralized portal also allows you to manage all equipment.