The 2020 Procurement and Supply Predictions from the Market — Efficio

Continuing our series of procurement and supply chain related predictions for next year, we have gathered a variety of predictions from leading vendors in the procurement and supply chain space, and will add our own sprinkling of endorsement from analyst Magnus Bergfors in our own roundup piece to follow.

Today let’s hear what a UK-headquartered, world-leading procurement consultancy, helping organisations to improve internal processes and upskill their procurement teams, has to say. Efficio operates across ten offices in Europe, North America and the Middle East.

Content and knowledge take centre stage

As the Procurement technology market consolidates and large suite providers reach broader functional parity the customer focus will move away from function/feature and towards the content and knowledge available via those solutions. Those who win in 2020 will be the companies who harness rich content and make it accessible to the wider organisation via technology and tools.

Need for Procurement’s effectiveness will grow

As digital maturity of companies increases it will enable business users to take a more active role in procurement activity without having to go through the function. As its traditional “savings” activity work starts getting completed by the stakeholders it serves, procurement will need to move to a role which sees it increase the effectiveness of that activity for all, continuously improving the experience of the user doing procurement, reducing cycle times and ensuring results meet the business needs.

Procurement at the heart of environment and sustainability issue

The continued social, political and investment pressure on issues around the environment and sustainability will continue to increase the importance of the topic for Board of Directors, as well as making the issue a top line/growth priority for an increasing number of companies. The point of impact on this topic will be in the supply chain and increasingly procurement will become the people tasked with having an impact in this area. This will put procurement at the heart of an issue which is a Board priority, a top line issue and a cost management objective.

 

Thanks to Efficio – and look out for more solution provider predictions over the next couple of weeks. It will make interesting writing for the end of 2020 to see which were most accurate!

Please note that the order of vendor predictions in this series is based entirely on the order in which they dropped onto our digital doorstep, nothing more. 

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