In today’s frequent evolution era, digital transformation is coming up as a strongest force for businesses to assure top-line growth, operational transparency & bottom line efficiency.
Disruptive digital technologies are becoming the real source to capture business values.
Encouraged with innovative technologies & business transformation solutions, digital-enabled businesses are becoming smarter, faster & scalable.
Technology advancement, adopting best business practices & increasing consumer demands are driving the procurement to transform.
With the advancement in the digital age, procurement is now no longer responsible only for bottom line results rather backed – up by real time access to market data & automation, procurement can offer valuable top-line strategic decisions & acting as a business lever to drive business value across the enterprise.Surviving in this new digital reality will require procurement to move beyond bottom-line efficiency and transforming the supply chain.
Procurement embraced with detailed information, analytics & strategic collaboration results in more sophisticated category management, supplier relationship & strategic sourcing.Procurement Trends for Business Evolution:Improved Procurement Perception: Adoption of robust procurement technology empowering procurement to realize business values & strategic investment above cost pressures.Process Automation: Manual excel purchasing cannot make-up the increasing purchasing demands of today and are more prone to human errors.