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Challenging the Status Quo: Driving Value with Next-Gen Procurement
As per a recent Deloitte Global CPO Survey, over 80% of CPOs have not been able to adopt next-gen technologies. The problems cited in adopting these technologies range from complexity of the process to unavailability of the rightly skilled employees.
In a rapidly changing world, organizations must continuously adapt to survive and thrive. This is especially true for the procurement function, as it must not only keep up with changing markets and technologies, but also with rising risks and compliance issues. One such approach is digital transformation of your procurement processes; it is the key to unlocking value and staying ahead of the competition. From cognitive procurement solutions that enable better decision-making to artificial intelligence (AI) and machine learning (ML) that automates rote tasks, next-gen procurement technologies are driving major changes in how organizations operate. By embracing digital transformation, businesses can streamline operations, improve efficiencies, and drive greater value from their procurement function.
In addition, organizations need to identify risks (e.g., fraudulent invoices and incomplete records) and mitigate supplier risks in real time. This helps improve relationships with their suppliers, making supplier management efficient and increasing visibility into the process.
This Virtual Round table is an opportunity to gain peer insights from procurement leaders across the South-East Asia region, who have tackled similar challenges, as well as identifying areas for transforming procurement function and preparing for risk management.