How CPOs See the Future? Highlights from the ProcureCon Report
Digitalization, Procurement Trends, Industry Trends and Technology
The ProcureCon Europe 2017 Survey Report is an interesting read. Consider this: 25% of the respondents were CPOs, 30% were Heads of Indirect Procurement, another 25% Heads of Direct Procurement, and 10% held the title of VP of Procurement – that is 90% of the respondents holding a strategic role within procurement. What is more, unlike many surveys, every respondent was personally interviewed by appointment. No hasty conclusions provided by a dubious audience, filling in an online questionnaire.
100 procurement leaders from across Western Europe and the Nordics (with 5% from the USA) were focused onto 3 topic areas: automation and the future of procurement, digital transformation, and suppliers and supply chains. They shared their views in total on 17 questions – which doesn’t seem like a lot, but when you see the depth of the answers you will agree that a lot of ground gets covered.
An automated future
Almost 50% of organizations surveyed see automation of procurement processes a high priority – the other half say it is on the radar. I think this somewhat generic question serves to highlight the current state of procurement: focused and proactive.
When reading further in the report, it becomes clear that the state of procurement is also ‘measured’. For example, when asked what the biggest benefits to implementation of a digital procurement strategy were, the top responses were highly quantifiable and directly measurable by various KPIs. To find out the actual responses in detail, I warmly recommend that you read the ProcureCon 2017 report.
Hot topics in procurement
You might also be interested to hear about the current thinking of procurement leaders on new technologies and the impacts of recent legislations like PEPPOL. How about supplier engagement and management of supply chain risk? Is this an ongoing conversation in your organization? Or perhaps supply chain finance is becoming more and more important also for your business, making it a hot topic in the procurement department. The survey touches upon all of these interesting talking points.
I won’t give it all away because that would be a disservice to the authors of the ProcureCon report. I will say, though, that I appreciated the fact that the report read like a discussion. There are some interesting summaries by industry experts in the beginning (my own included) plus anecdotal quotes supporting each response summary and all in all, the report feels entirely approachable.
I’d be more than happy to continue the conversation with you.
Rowan Lemley has over 10 years of experience in the purchase-to-pay arena. During that time, he has lead product marketing for AP Automation, B2B networks, eProcurement and Product Information Management solutions.
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