PROCUREMENT STRATEGY
“ Data will always originate in various sources , but it should all flow to a single Source-to- Pay ( S2P ) platform ”
ALEX SARIC CMO , IVALUA
decisions across procurement ’ s growing and often conflicting priorities , such as between cost and sustainability , leaders must access a large and expanding set of information . Due to specialised data providers , this invariably requires a broad ecosystem . As new sources of information become available and regulatory reporting requirements expand , this ecosystem will continue to grow . “ To support procurement , a digital ecosystem must be able to provide easy access to all information needed to support ever more complex decisions and be agile enough to adapt over time ,” he adds . “ Ultimately , if a digital ecosystem can ’ t keep up , it will fail in its ability to help support procurement teams in their immediate priorities and longer-term goals .”
While for Matthew , he believes the challenges are fourfold : integration complexity , data management , change management and security , with issues posing technically complex and resource-intensive , especially with legacy architectures in place . “ Many companies have a legacy architecture in place that IT manages exclusively in many cases , which compounds this challenge ,” he says . “ Data is becoming
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