This is only the 6th day of September, and there are already over 20 events in the calendar for this month – not to mention the ones I’ve already listed for October. We’re also going into a window of ...
As we creep out of the summer, it is becoming apparent that everyone has been working behind the scenes all summer to plan events. I added a dozen new events to the calendar last week that extend into...
Sometimes a post on social media connects with people such that it takes on a life of its own. That happened this week in the wake of the Ivalua NOW event in Paris.
Philip Ideson shared a picture of Duncan Jones from Forrester Research sharing a striking statistic about procurement’s self-assessed v. actual maturity. You can see the image above, but here are the raw numbers:
Procurement organizations who self-assess as at the beginning of their maturity curve: 4%
Procurement organizations who are actually at the beginning of their maturity curve: 60%
Procurement organizations who self-assess as advanced: 65%
Procurement organizations who are actually advanced: 16%
While it is fair to ask questions about the Forrester methodology and maturity framework that might explain away some of the discrepancy, the fact remains that procurement’s perception of our own maturity is significantly skewed from reality. As a profession, we are significantly overestimating our organizational maturity by a huge margin.
In this week’s webinar notes we’ll feature two webinars that addressed the idea of empowering CPOs through data or business intelligence: ISM with the Aberdeen Group and IASTA with Forrester Research.
Both events addressed the need for procurement to have sufficient analytical capabilities to support the CPO’s efforts to develop strategies for improvement and risk mitigation, and acknowledge that even the best analytics are not actionable without external benchmarks. As a result, best-in-class companies are making investments in the technology solutions and services needed to improve procurement’s capabilities.