Procurement Pros Eye Digitalization
July 1, 2022
new survey reveals that 90% of global procurement leaders are urgently
transforming their operating models and processes to better meet the challenges
of today’s volatile, uncertain business world. The survey gathered insights from
more than 170 leaders around the world across all business sectors and company
The findings highlight that digital transformation will be a top priority for
the next three years as global organizations adopt innovative, new technologies
that enable them to pivot quickly and react to rising costs from both inflation
and supply chain disruptions.
The survey also reveals that the new-look procurement model will be
characterized by digital operating processes that reduce costs, inject agility
and resilience, increase business value, and enable companies to do more with
less as they actively seek ways to reduce costs, gain efficiencies, and improve
their bottom line.
Key findings from the survey include:
90% of companies expect a relative or significant change in their procurement
operating model over the next three years to build more agility and resilience.
87% are prioritizing building digital and data teams to gain predictive
insights, deploy new technologies, and react more quickly to future disruption
and economic change.
81% of procurement leaders believe there still needs to be more support
from within their businesses to enable this crucial digital transformation.
50% of organizations aim to move to a business procurement-centric
organization, acting as advisors and business partners rather than executing
The economic impact of the global pandemic, inflation, and the war in
Ukraine has accelerated procurement’s transformation from a transactional
function to a key enabler of business growth with multiple new objectives of
agility, transparency, resilience, collaboration, and social impact.
has a unique opportunity to lead company performance during these unpredictable
times, building vital agility and resilience into supply chains and value
chains,” said Globality Chief Revenue Officer Keith Hausmann. “Utilizing
innovative digital technology means enterprises no longer have to rely on
suppliers in a single location or even a single country, minimizing operational
and geopolitical risks while also generating immediate cost savings.”
The survey shows that global procurement leaders understand the crucial role
they can play in futureproofing their organizations and positioning them to be
able to react more quickly and effectively to meet future unexpected
“Procurement leaders are looking further ahead,” said Lance Younger, CEO of
ProcureTech. “They are creating ecosystems of solutions, anticipating the
adoption of new technologies, driving digital-first delivery across the supply
chain, and embedding agility in preparation for future changes.”
tion and client service will undoubtedly create a positive
impact for our clients and the market at large.”