Today’s uncertain economic environment is driving businesses to look for ways to reduce costs and manage risk. The C-Suite is looking to procurement to deliver savings and mitigate supply chain risk, requiring deeper internal relationships and more-robust analytics. But labor-intensive processes and inadequate governance and systems soak up precious resource time and also hinder spend and risk visibility
Why is Transforming Procurement a Top Business Priority?
- Less than half of average addressable spend is properly sourced
- Only 55% of company spend is contract-compliant
- Less than two-thirds of spend is linked to a purchase order