Digital Procurement, Digital Transformation – Five Important Points for Procurement Leaders to Consider

We have a new briefing paper to bring you today, Digital Procurement, Digital Transformation - Five Points for Procurement Leaders to Consider Now, which was written by Peter Smith, before he stepped back from Spend Matters, and sponsored by independent spend management solutions provider, Jaggaer.

There has been considerable discussion around “digitisation of procurement”, which sometimes we suspect has generated more heat than light, as it were. Pretty much anything that involves a tablet or smartphone has been described as the latest “digitised solution” it seems!

So, for the sake of clarity, in this paper we start by defining the terms used around ‘digital transformation,’ which tend to be thrown around rather carelessly. There is plenty of confusion it would seem about the use of the word “digital” in procurement and wider business circles, so we take a look at what the words (and their concepts) mean to us: Digitisation, Digitalisation and Digital transformation.

We then take a look at some of the areas where advances are being made, because there is no doubt that change is happening now, notwithstanding the hype around the topic. Procurement leaders and professionals therefore need to decide whether to ride the wave and perhaps get ahead of the curve (to mix our metaphors) – or whether to stand back and risk losing out, personally and organisationally.

The paper then looks at five key points (such as the central importance of data) relating to digital procurement transformation. Assuming procurement executives take the positive approach, we suggest these are well worth considering as plans are developed and implemented.

You can download the paper here, free on registration, and we will be back with some extracts from it in coming days.

It is also worth noting that this paper draws heavily on a very good and detailed 2017 report from Jaggaer, titled “Just Hype Or The New Standard? - A Study Based on the Complete Results of the Global JAGGAER Digital Procurement Survey”. 

The report is an impressive piece of work, based on a survey of procurement practitioners but with a considerable amount of intelligent commentary that goes well beyond just survey results. It gets into issues connected with digital procurement and transformation, so if you find our short briefing relevant and useful, we heartily recommend you check out the original report too.

This year, Jaggaer is launching an updated survey which asks the question: How digital is your procurement organisation? It is an expedition to discover How Close We Are to reaching that holy grail of ‘procurement digital transformation.’ The survey aims to uncover where organisations genuinely stand in the uptake of digital procurement, and to what extent it is seen as just hype, or the new standard.

As well as being part of, and contributing to, a valuable and current body of knowledge for procurement, by answering just 12 questions about digital procurement within your company you can gain the following insights to help your organisation reach its 'digitalisation' goals:

  • Current Digital Procurement Benchmarks for your company and other global companies
  • Free copy of the study “Digital Transformation in Procurement: How Close Are We?”
  • Analysis and insights on the future of digital procurement and use cases for emerging technologies

So do take a short while to fill in the survey here

Please feel free to share this link with your colleagues and co-workers, and it’s worth noting that answers are used for statistical purposes only and will not be associated directly with your organisation.

 

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