The Future of Procurement in the Digital Age

6 Mar 2018
by Vikas Gujral, Vatsal Gupta

Procurement has to move beyond cost savings and compliance, to become a strategic contributor by enabling business outcomes. A definite vision is coalescing for what the procurement of tomorrow will look like. However, how do we get from where we are today to what will be required tomorrow? How do we move our procurement organization along the capability continuum in order to achieve the forward-looking vision of the function? In other words, how are we to realize the procurement of the future?

In this paper we address these questions by:

  • Discussing the current challenges CPOs face and levers for next-generation value creation for digital procurement
  • Highlighting the procurement services industry’s changing value proposition as it transitions from an arbitrage-first to a digital-first model
  • Offering an outlook on the future procurement ecosystem
  • Discussing the implications of these changes on enterprises and the role procurement providers will play in paving the way for the future

This paper is intended for enterprise operations executives who are looking to understand the changing procurement ecosystem, its potential implications, and the challenges they must overcome to truly transform the function.

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