Digital Procurement Transformation
Procurement transformation is often part of a wider business initiative and typically involves a tremendous amount of change, including new roles and responsibilities, processes and technologies. Respecting the sequence of People, Process and Technology is key given the importance of getting the first two right before introducing the digital enabler of transformation — procuretech. The prospect of this much change can be daunting, but a procurement leader with access to the right knowledge and tools can direct Procurement to achieve sustainable value delivery – and we’re here to help.
Spend Matters is furnishing you with clear, actionable and phased advice for a successful, digitally fueled transformation through the expert resources linked on this page to help you survive your journey of change.
The guide is an invaluable tool for anyone thinking about starting or actively undergoing a digitally-enabled procurement transformation. All of the phases are peppered with real-world case studies from the people who have been in your shoes; so you don’t have to step into the same holes they’ve already avoided!
Please consult all the resources you find below, but to get you started we recommend you start out by reviewing these three in-depth articles:
- Part one outlines the stages for digital procurement transformation
- Part two looks at the foundations required to build a digital roadmap
- Part three is concerned with the design of the roadmap itself
Phase 1: Setting the Stage
What is digital procurement transformation and how can it be a critical performance enabler and source of value creation? How do you recognize the need for transformation – and how do you know you’re ready? Explore this and more of what to expect in the ‘setting the stage’ phase.
Phase 2: Building the Foundation
Keen to get started? Here is more about how to approach procurement transformation, building a digital procurement roadmap, the critical role of data, identifying quick and long-term wins and making the case for procuretech.
Phase 3: Driving Adoption
Success at this stage relies heavily on change management, learning how to identify and engage key stakeholders, building coalitions to support the transformation journey, exploring the psychological aspects of change, how to address resistance and build a culture of adaptability, and aligning goals across teams.
Stakeholder Buy-In Value Propositions
Common cross-functional stakeholder objectives for Sourcing, Spend Analytics, CLM, SRM & Risk and P2P technologies.
Download Now20 Key Diagnostic Stakeholder Questions
Gather input upfront to map status quo, scope, buy-in, risks, implementation and change management challenges.
Download Now
Phase 4: Designing and Implementing
This practical stage of the transformation addresses resourcing (gaps), designing the organization, options for rollout and strategies, allocating skills and responsibilities, and conducting current and future state assessments (with downloadable templates).
Procurement Technology Capability Roadmap Templates
Download source-to-pay maturity assessment roadmap templates to help you gauge the current state of your procurement capabilities at a high level.
Download Templates Now
Phase 5: Making Technology Work for You
Get advice on the best method to selecting the right technology for your needs, navigating the complex solution provider landscape, avoiding the pitfalls in tech selection, explaining best-of-breed vs. full-suite solutions and building a flexible, scalable tech stack.
Phase 6: Measuring and Sustaining Success
With a 70% ‘failure’ statistic hanging over digital procurement transformation efforts, this is an all-important stage for procurement, finance and the business. Focusing on defining success metrics and tracking ROI is the crux of this section, covering setting measurable goals and KPIs, tools and frameworks to track and realize ROI and adapting to emerging technologies and future trends.
