IT Procurement Process It is the continuous process of purchasing IT (information technology) assets to drive organizational goals and efficiency. Your IT process and procurement should always reflect company objectives by getting the most out of your IT spending. IT procurement is a series of activities and procedures for sourcing IT assets. With an IT procurement policy, your business can seamlessly execute its projects with the critical IT products and services by its side. Your managed IT services provider must understand the IT system procurement process to be able to obtain high-quality hardware and software solutions for your organization. The starting point is to identify your IT requirements. You must determine if you need a new IT product or service. At this stage, you will be collaborating with internal teams to identify the needs of the company. The next step is that you need to review your IT investment business case and find justifications before initiating the IT procurement approval process. Some of the best practices in IT procurement include the following: the IT asset procurement process should aim to meet your business goals, without any resulting inefficiencies due to integration challenges or training as well as creating close supplier relationships with specific vendors and IT service providers in a bid to earn warranties and/or discounts.