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Five Minutes on Empowering Modern Procurement

Five Minutes on Empowering Modern Procurement

Oracle
Published by: Research Desk Released: May 07, 2019

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