Opportunities
45%
45% of the C-Suite identified digitalization as procurements primary value proposition with 70% identifying spend analysis as the top driver of procurements digital transformation.
53%
53% identified AI strategy & integration as a top strategic priority for procurement, and 38% said they had seen significant improvement in procurement productivity through AI. 10% are highly confident in procurements ability to leverage effectively for productivity gains.
77% identified AI proficiency as the top skill being sought by procurement for the next 18 months and 52% identified Generative AI as the top technology trend to be implemented in procurement.
77%
65%
65% identified geopolitical dynamics as the top risk area for procurement to focus on. And only 24% are highly confident in procurement ability to manage global risks and only 27% are highly confident in procurements ability to manage risk strategies for different categories.
67% identified access to specialized skills was the top driver for using external workforce, and in the short term, 56% identified improving SOW as an urgent priority for external workforce.
67%
Source: Economist Impact study, The Resilient Edge – Procurement in an era of polycrisis
POs transmitted via Business Network
Best in Class Metrics*
Sourcing Savings Rate
Invoices without exceptions
97.5%
14.5%
99.9%
*SAP Customer Benchmarking program
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