The need for procurement to be a more strategic function has never been as important as in this current volatile scenario. The strategic role of procurement as a leader or a support function extends to as diverse areas like developing business in new countries to meeting regulatory requirements.
After witnessing scenes of rising costs and profits spiraling downwards in the past 18 months procurement now needs to go beyond being a catalyst for cost savings and supply chain performance. Instead it now needs to undergo a complete transformation and become a driver in every strategic business initiative. This has been understood by most organizations for the good part of the last five years as shown by Aberdeen research.
This white paper discusses in detail the key areas that need to be addressed for a successful transformation project and how the gaps in current processes can be plugged by the right technology solutions coupled with the right processes. The aim here is to elaborate how the right automation systems serve to not only enable, but accelerate procurement transformation.