Enabling the future of procurement
Today’s leading procurement organisations recognise that technology and automation will continue to improve all aspects of the procurement operating model, driving efficiency and effectiveness. Manually intensive and administrative tasks must be replaced by new technology which enables self-service, allowing procurement professionals to perform higher value activities that focus on suppliers and customers.
Technology will serve as the link between data and automation to enable integrated processes and create meaningful insights that will enable procurement to make better, well-informed decisions and guide the business. In the procurement function of the future, intelligent assistants will support everyday activities, and provide key data points will be used to enrich discussions and negotiations. Information will be available in real-time.
Procurement technology disruptors that are shaping the future include:
- extreme automation across the procurement cycle
- simple, adaptive, end-to-end automation beyond procurement
- value-added services, such as managed services and external insights, used to maximise procurement ROI
- AI and machine-learning deployed to be seamless and invisible
- end-to-end compliance controls and automation
"A digital procurement platform makes decisions, improves processes, proposes actions, and automates repeatable activities." – Yatin Anand, Managing Director, Procurement and Business Services, KPMG in the US
The CPO agenda for the future of procurement
It’s no longer business as usual for procurement. The scale and speed of transformation required to address the mix of disruptors impacting procurement is unprecedented. The key to success is to proactively develop a blueprint for how your procurement organisation can turn these disruptors into opportunity for competitive advantage and growth. Learn more about the future of procurement.