Opportunities
43%
43% of the C-Suite have cost savings a primary value proposition for procurement, and 76% identified that increased internal collaboration has brought increased cost savings and 78% identified the cost savings as a primary driver of the increased use of External Workforce.
39%
Customer satisfaction is a key area for consumer products with 39% identifying it as a top measure of procurement performance and 23% identifying it as a key strategic priority as well.
58%
58% identified geopolitics as a top organizational risk area for procurement to focus on, however, only 24% of respondents were highly confident in procurements ability to manage global external risks , and the same number have high confidence in procurements ability to manage risk strategies for different categories.
44%
44% identified AI strategy as a top strategic priority, with 67% identifying AI proficiency skills as the most in demand skill for procurement, which is needed as only 23% have confidence in procurement to leverage AI for improved productivity and 28% have not measured the AI benefits in procure to pay automation.
Source: Economist Impact study, The Resilient Edge – Procurement in an era of polycrisis
Invoices without Exceptions
Suppliers whose Performance is Managed and tracked
Best in Class Metrics*
Sourcing Savings Rate
82.8%
100%
13.7%
*SAP Customer Benchmarking program
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