2018 PROCURECON BENCHMARKING REPORT: Driving Procurement Transformation
The 2018 Benchmarking Report by ProcureCon is a great collection of insights into the collective mind of the Chief Procurement Officer (CPO).
The ProcureCon report, supported by OpusCapita as a partner, reveals the development of the eProcurement market and provides fresh insight into the status of procurement transformation in European organizations. 100 CPOs shared their thinking around their key procurement challenges, goals, and trends, which makes this report a useful source of information to any organization building a business case and working toward procurement automation.
One of the key findings from the report indicates that CPOs’ focus is shifting away from cost reduction as a top priority toward Total Cost of Ownership instead. In the future, Data Analytics and Artificial Intelligence appear to be high on the list of most useful procurement automation technology in the future, but procurement organizations are also looking into other innovative ways to benefit from digitalization and improve procurement performance.
The CPOs shared their views on topics such as:
- What are the key success factors of digital procurement technology?
- What kind of automation technology is used now and what will be most useful in the near future?
- What is the role of supplier performance management?
- How are the procurement teams set up?
- At what level is the ability to create a sourcing event for indirect goods and services?
Based on the report, the pace of change in procurement is only picking up speed. Read the 2018 Benchmarking Report by ProcureCon to stay on top of procurement market trends and to find out how your organization compares to others in Europe.