Numerous studies highlight the growing impact of digital technology on the procurement function:
Forward-looking procurement leaders are creating technology ecosystems designed to improve their processes, accelerate decision-making, and automate low-value activities.
They recognise the opportunity to revolutionise performance at every stage of the procurement process, by:
The procurement function of the future will be supported by real-time data and intelligent assistants, whose recommendations will enrich negotiations and buying decisions.
Increasingly, administrative tasks will become automated or self-service – freeing procurement professionals to focus on managing risk, boosting innovation and optimising costs.
And technology has a role to play in enabling this new emphasis. It can connect internal and external data sources, producing deeper insight to inform better decisions and provide strategic guidance to the business.
A global oil and gas firm is harnessing digital technology as a catalyst to transform its procurement capabilities. Thanks to an integrated ecosystem of solutions, the business has automated its strategy-to-pay process, and is generating deeper insights to inform better decision-making.
It’s no longer business as usual for procurement. The scale and speed of transformation required to address market disruption is extraordinary.
Success requires a blueprint for turning disruptive events into opportunities to drive competitiveness and growth.
This is what the future demands of procurement. Contact us today to start moving forward.
Download Report: The Future of Procurement
Explore our insights below to learn about the key imperatives for procurement in a changing world.
KPMG helps clients leverage emerging digital and automation technologies to address procurement challenges.