TECHNOLOGY
63 % Almost two-thirds of IT buyers still rely on manual systems to complete standard procurement tasks
procurement professionals to achieve digitalisation – with 74 % saying they are either working on their digital transformation plans , are part way through implementing it or are looking to move in this direction .”
What ’ s clear is that , given time , digitalisation will become the norm . That must be a concern for those organisations not currently taking steps in this direction .
“ When it comes to recruiting and retaining the best procurement talent , a failure to digitalise will impact an organisation ’ s ability to find and keep the best people ,” Nethercot asserts . “ This will affect the quality of the workforce and impact long-term business performance .
What ’ s more , as we continue to experience a period of global uncertainty and sustained periods of supply chain disruption , organisations will need tools in place to manage their suppliers . By empowering procurement teams with the technology and data , organisations can better manage risk by making informed purchasing decisions .
“ A failure to digitalise procurement processes will ultimately hurt the overall businesses in several other ways too – through higher costs , slower deployment of equipment , employee dissatisfaction and a competitive disadvantage .”
Don ’ t get left behind As Nethercot describes , it is concerning , therefore , that almost a quarter are still not moving in this direction . Especially when it is possible to do this without heavy investment .
“ For example , by working with suppliers that offer live supply chain data , procurement teams can gain ready access to the information they need to make
92 August 2023