The Procurement Maturity Curve, Part 1: Savings at Every Stage (Determine)
After multiple years of transformation (first procurement, then digital), most of us have accepted the idea that we work in a state of perpetual change and self-examination. What are my company’s current practices? What am I doing to advance myself or my team to the next level? How does that compare to what my competition is doing? Isn’t this striving for growth what “procurement maturity” is all about?
Despite procurement’s evolution to this point, savings continues to be a critical measure of our effectiveness. And yet, it is no longer quite as prominent as it once was. In this two-part series, we’ll examine how procurement technology is (or should be) adding value across the enterprise. We’ll also touch on how incorporating data and analytics tools can enhance processes, providing procurement professionals with increased oversight for the sake of compliance, risk management and collaboration.
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