Digital World-Class Procurement Reaching New Heights

Digital world-class procurement organizations are 85% more likely to be viewed by stakeholders as taking a proactive approach to supply risk mitigation.

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In 2021, digital world-class procurement organizations are operating at 25% lower cost than typical procurement organizations and 6% lower cost than traditional world-class procurement organizations, according to new research from the Hackett Group.

In fact, digital world-class procurement organizations are 85% more likely to be viewed by stakeholders as taking a proactive approach to supply risk mitigation.

From The Hackett Group:

  • Digital world-class procurement organizations are able to deliver greater business value in the form of higher-quality services. Compared to peers, they have 2.5 times higher procurement ROI and 25% more spend influenced or managed by procurement.
  • They are 85% more likely to be viewed by stakeholders as taking a proactive approach to supply risk mitigation and 19% more likely to be considered a valued business partner.
  • To fully unlock the potential of technology, leading procurement organizations must transform in data and analytics; technology architecture (more cloud-based and modern); operating model; end-to-end process design and ownership; and talent.
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