Today, many procurement chiefs are thinking about how they can digitise the function. As a concept, digitisation refers to the integration of processes, deeper analysis of data as well as the utilisation of new technologies to drive meaningful business outcomes.
Many CPOs believe that by digitising their functions they will push performance to the next level and open up new avenues of value. While that is true, that journey is not a simple one. It comes with its own set of unique challenges.
It was this that attendees at a Procurement Leaders roundtable event in New York, partnered by Genpact, discussed at length.
From defining what exactly digitisation was all the way through to implementing a digital strategy, attendees challenged each other and shared their thoughts on the way forward.