How to Transform

This guide discusses our three pillars to accelerating procurement digital transformation. The pillars work in concert to provide a blueprint for success by helping you reimagine the procurement process to stay at the forefront of industry changes.

Pillar 1

Reimagine the Process

Sourcing, contracting, planning, buying, delivering, invoicing, paying – procurement is a complicated process. In this new digital era, automation is just one essential aspect to increasing speed and efficiency. Leaders must also take advantage of smart, guided experiences to further remove modern complexities and add intelligence at every stage of the cycle.

This means using tools that allow you to take a step back and see not only what tasks are directly in front of you, but also what new opportunities are worth exploring. Role-based content and tailored steps create a simple, streamlined workflow that prompts appropriate action, while advanced technologies work in the background to make it all more autonomous. This frees you from an endless array of unnecessary tasks so you can focus more energy on strategic imperatives.

Pillar 2

Drive Deeper Collaboration

Lack of collaboration leads to lack of visibility. Poor visibility is a major challenge that often increases risk across the supply chain and impairs decision-making. Better visibility means knowing exactly what inventory levels are like within your facility, your supplier’s facility, and even their supplier’s facility. This information not only alleviates the risk of overreliance on certain suppliers, but also helps to predict and prevent product shortages and overages. Here are some top tips to help you enhance collaboration – and, therefore, visibility – across your supply chain.

Pillar 3

Connect to the Core of Your Business

Procurement stretches across your entire company, so spend management must flow across all your processes and systems.

But basic integration of purchase order and invoice information is just the beginning. To deliver the degree of speed and innovation needed, you must connect your guided procurement process and strong supplier partnerships to the rest of the business.

This means integrating procurement with product and strategic planning on an open, extensible platform that supports the goals of finance, operations, and the entire business.