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Banking: The Imperative for Procurement Digital Transformation

Over the last decade, very few industries have faced as much disruption as the banking industry. Pressure from new non-traditional competitors, coupled with evolving customer demands, are forcing banks to rethink their business models and services. Innovations such as blockchain and digital currencies add complexity to an already dynamic industry. Further, the explosion in digital banking in support of the customer has created increasingly sophisticated cyber and fraud risks that banks must manage. Digital technologies help banks tackle these challenges and position their organizations for future success, enabling speed, agility and improved customer engagement. Procurement plays a key role in helping executives gain full visibility into spend across business lines to better support the business and improve management of suppliers, cost, risk and compliance. To understand Procurement’s readiness to support their organizations, SAP collaborated with Oxford Economics on research into procurement digital transformation and supplier collaboration. Download the Document

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