Opportunities
45%
43% of the C-Suite identified cost saving s as procurements primary value proposition, with 74% identifying cost savings as the primary benefit of the increased collaboration and 74% identifiying cost savings a primary driver of the increased use of the external workforce. However, only 46% are highly confident in procurements ability to manage strategic sourcing. 38% identified digitalization as a top priority for procurement, and 67% identified spend analytics as the top driver of digital transformation in procurement for the 3rd year in a row . 46% identified digital adoption metrics as a top KPI to measure procurement performance and 62% identified that increased digital adoption was a top benefit of improved internal collaboration.
38%
34%
34% identified organizational operating model changes were a key risk area for procurement to focus on, and 38% identified increasing outsourcing as a top priority for the managing the external workforce.
63%
63% identified geopolitical risk was the top organizational risk area for procurement, and 45% identified supply chain reconfigurations as a top strategic priority for the next 18 months.
Source: Economist Impact study, The Resilient Edge – Procurement in an era of polycrisis
Best in Class Metrics*
Sourcing Savings Rate
Sourcing Cycle Time
Invoices without Exceptions
18.4%
20 Days
95.9%
*SAP Customer Benchmarking program
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