Opportunities
46%
46% of the C-Suite identified monetary uncertainty as a primary risk for procurement to focus on and 73% identified cost savings as the primary driver of the increasing use of the external workforce.
65% identified geopolitical dynamics as the top risk area for procurement to focus on, but only 28% are highly confident in procurement ability to manage global risks and only 23% are highly confident in procurements ability to manage risk strategies for different categories.
65%
29%
29% identified digitalization as the primary value proposition for procurement. 61% identified Generative AI as the top technology trend to be piloted or implemented in next 18 months and 73% identified AI skills as the top skill sought for procurement over the next 18 months.
Source: Economist Impact study, The Resilient Edge – Procurement in an era of polycrisis
1.07 Days
Average Invoice Approval Cycle time
Best in Class Metrics*
Sourcing Savings Rate
Average Requisition to Order Cycle time
0.44 Days
22.7%
* SAP Customer Benchmarking program
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