83% of companies are missing opportunity in digital procurement

By Jonathan Dyble
According to a new study, conducted by Jaggaer in collaboration with the Au...

According to a new study, conducted by Jaggaer in collaboration with the Austrian Association for Supply Chain Management, Procurement and Logistics, 83% of companies are failing to take full advantage of the potential of digital procurement.

The study surveyed a total of 168 companies of all different sizes across a variety of industries, evaluating their current digital procurement strategies.

See also:

“New technology is going to completely revolutionize the daily routine in procurement,” said Thomas Dieringer, Managing Director of Jaggaer EMEA. “By implementing modern procurement software, more than half of all procurement organizations have already taken the first big step towards digital end-to-end processes, automation, data consolidation, and using KPIs for strategic decisions.”

However, whilst the majority of firms see investment in digital procurement as a top priority, this was not reflected by the study in new and emerging technologies, suggesting that companies are taking a more pragmatic, risk-free approach to digital procurement.

The likes of blockchain, robotic process automation (RPA) and digital assistants were all seen as being low priority investments, despite many recognising digital procurement to be a key driver in improving performance.

“The next step is to link data more effectively and use it more intelligently,” Dieringer continued. “This will open up many new opportunities for procurement that will give organizations a strategic advantage.”

Share

Featured Articles

Procurement & Supply Chain LIVE 2023, 1 Week to Go!

With just one week to go, find out what to expect when attending this year’s Procurement & Supply Chain LIVE at the Business Design Centre, London

New Exiger solution 'will stop CSCOs drowning in data'

AI supply chain solutions specialist Exiger launches new platform to give end-to-end value chain visibility and help prevent CSCOs 'drowning in data'

'Cloud manufacturing' securing supply chains - Infosys

Infosys Head for Manufacturing Europe Ruchir Budhwar on how cloud manufacturing is mitigating supply chain problems through visibility & control

Strategic sourcing insight at London supply chain event

Procurement

Global logistics news roundup: CH Robinson, Flexport, Körber

Logistics

Supply chain decision intelligence 'a business imperative'

Digital Supply Chain