What does procurement mean in the digital age? How can enterprises derive true business value from an indirect procurement platform?
Procurement as a function is transforming rapidly and making an informed choice on sourcing and procuring best quality products and services at the best price is a massive challenge. Today, businesses are beginning to realize the potential of indirect procurement in driving cost savings and adding business value. CPOs are also looking to adopt an integrated platform delivery model that plays a crucial role in procurement transformation.
Digital consumerism and social commerce are not only altering the buying behavior and expectations of consumers but also of employees. Enterprises thus need to focus on reshaping their procurement strategies by enabling a ‘Social’ procurement experience that helps connect with users to drive engagement, visibility, usability and flexibility.
This whitepaper outlines the importance of advanced e-procurement solutions and why enterprises need to ‘Googlize’ and ‘Amazonize’ indirect procurement. Download the paper to explore the four key elements of a successful procurement strategy.