Going All In: Digital Transformation of Procurement for New Value Generation

Procurement is said to be undergoing a digital transformation, but it is not simply a matter of installing new technologies. A true transformation generates new value across the organization and is not limited to a single function.
— By Lena Haram

It is not difficult to collect data, but it can be very difficult to understand how to use it to maximize value in the procurement process. It may not be difficult to generate analytics, but are they useful and do organizational leaders know how they are best utilized?

Many procurement functions have implemented digital technologies, taught departments how to use dashboards and automated manual tasks. The question is whether the digital technologies are generating intelligence and insights, promoting collaboration and creating advanced solutions that drive maximum value. For most procurement functions, the answer is, "Not yet."

There is broad recognition that digital transformation is n...

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