That’s the challenge chief procurement officers are facing.
Because businesses are facing unprecedented change and disruption. The industry landscape is constantly evolving, and for some organisations, their very existence is under threat – especially in the new reality. Consumerisation, increasing regulations, and shifts to outcome-based pricing are just a few reasons why procurement leaders are re-evaluating their strategies.
Then there’s the impact of automation and analytics, self-service, and a myriad of user-friendly processes, policies and procedures. Add to this the ever-present pressure to do more with less, and it would appear the role of procurement is shifting dramatically, with a focus on adding value.
Procurement has a bright future. It just needs a strategic re-evaluation, and to harness new technologies to become more agile and resilient.
Leading procurement organisations have developed an agenda to deal with disruption. They are moving into the future by becoming:
Use deep supply market insights and predictive analytics to deliver on organisational needs.
Become user-friendly by delivering seamless procurement experiences and business compliance.
Drive supplier performance and take partner relationships to a new level.
Integrate within the wider supplier risk and value chain agenda, while driving a social, sustainable agenda.
They are also enabling the future of procurement with:
How do you harness technology to re-energise and re-focus procurement’s activities?
How do you capitalise on data to drive work prioritisation and deliver superior procurement experiences?
Are your procurement professionals ready to become relationship brokers and data masters?
How do you restructure procurement to enable flexibility and a stronger connection to other parts of the business?
KPMG Powered Procurement provides an out-of-the-box Source-to-Pay operating model that helps clients transform their S2P process – accelerating delivery and achieving maximum value from their technology investment.
A pre-configured cloud solution, embedded with years of KPMG leading practice and enhanced with automation, Powered Procurement can help you to quickly transform and derive value from your move to the cloud.