Digital Transformation in Procurement
Today, the question is no longer whether a company digitizes processes, but how. Digitization makes companies more efficient and helps them to effectively achieve the goals they have set themselves. Digitization is always an individual development process, adapted to the respective needs and capabilities of the company.
Successful digitization in procurement
To achieve optimum results, the digitization strategy is derived from the general corporate strategy and then scaled down to the particular functions. Companies have to decide individually which steps will be placed on the digital agenda and in what order they will be tackled. The first step is to clarify what services a department contributes to the company’s overall result and what resources it needs to fulfill its tasks as effectively as possible. In this way, the first steps of the digital transformation can be taken successfully.
Digital piloting in procurement
Procurement, in particular is predestined for digitization, as many routine tasks are performed here on the one hand, while on the other there is a high demand for transparency of expenditure and responsiveness. In addition, digitization projects in procurement quickly have an impact on results, so that success can be quantified in tangible terms. For this reason, it makes sense to start with pilot digitization projects in procurement.
However, the big challenge is to find the right starting point for successful digitization: There is now a wide range of software available for all areas of activity in procurement. It therefore applies
- to define your own needs precisely
- analyze the existing digital infrastructure in order to select tools that can be integrated via interfaces
- to find starting points where investment costs and expected return are in a positive relationship to each other
Consider the individual degree of maturity
The basis of this procedure is the awareness of the so-called “digital readiness” of the own company:
- How does top-level management rate the benefits of digital solutions?
- Which competencies in the use of tools do employees have?
Is the company‘s general mindset more oriented towards preserving what is tried and tested or is there a positive attitude towards change?
With our knowledge from 20 years of procurement consulting and our cross-industry expertise, we support you in optimally setting up your procurement digitally according to your company’s needs.
The following pages will give you an overview of how intelligent digitization can improve your procurement performance and how INVERTO can help you.