Over the next 10 years, companies will face more opportunity and disruption than ever before. Digital transformation is already helping companies redefine their business models, operating processes, and work – and this trend will accelerate as powerful technologies mature. Given that up to 65% of the value of a company’s products or services is derived from its suppliers, procurement will play a leading role in enabling this transformation.
But, how will procurement organizations evolve? What new capabilities will emerge, and how will procurement transform the work it does and the value it brings to an organization? These important questions are top of mind for CPOs.
SAP believes that procurement will play a growing role in most organizations. Emerging technology, changing workforce demographics, and the growing power of business network ecosystems will greatly redefine how goods and services are sourced, purchased, and tracked across every spend category. And, procurement roles and organizational structures will change as a result.