Adobe Stock Procurement professionals understand the need for a digital transformation, but they do not necessarily understand what a digital transformation involves. This leads to partial success at best and failure at worst. Procurement clearly feels the need for embracing the digital. In the 2023 Deloitte Global CPO Survey , which was co-produced with help from Spend Matters Chief Research Officer Pierre Mitchell, 72% of respondents considered digital transformation as a top priority for the year, making it joint second after “Driving operational efficiency.” 42% saw investments into such a transformation as a top strategy for delivering value — making it second again. In the time since that survey’s publication, the ever-increasing attention given to generative AI has only made the need for the widespread implementation of digital technologies even more felt. And yet, the survey’s authors also note that many CPOs do not know how to begin the transformation process and others failed in the transformation or did not reap the promised rewards. Of course, the digital transformation of procurement faces many hurdles, hence our “ Procurement digital transformation survival guide for practitioners ,” which touches on every step of the process and the possible pitfalls waiting in […]
