Information Agehas highlighted the benefits of tech-driven ‘smart procurement’ for procurement staff.
Anyone working in procurement jobs will be acutely aware that the responsibilities of procurement professionals in 2018 bears little resemblance to those of just a few years ago. While the optimisation and reduction of costs remains a core duty, a broad range of other priorities are clamouring for attention: managing risk (especially new forms of cybersecurity risk), the recent increases in procurement risk identified in a new Deloitte study such as the effects on supply chains of geopolitical events and natural disasters, and the rising demands of data governance and security, to mention but a few.
All of this makes for one generic problem: the intense difficulty of processing such massive amounts of data to deliver actionable insights, especially when so much of it is segregated across different data systems. That’s where smart procurement technology comes into its own. These platforms can collect and integrate data from a multitude of different sources, organising it neatly in one place. No more scrambling around in different data pools for information on risk, external financial figures and internal performance scorecards. In other words, no more impossibly Herculean tasks and no more information overload.
Organisations are having to deal with historically unprecedented levels of complexity and uncertainty, from Brexit to geopolitics to regulatory change (think GDPR, for instance). Highly skilled, tech-savvy procurement interims from third-party procurement resources like Procurement PeopleCloud® can, with their familiarity with smart procurement tech, play a pivotal role in delivering compliance – and delivering it with the kind of agility that results in minimal disruption.
The technology allows these professionals to get a 360-degree view of an organisation’s complete supplier network and pull out data-driven actionable insights.
One thing is for certain: 2018 will bring with it even more uncertainty, even more risk factors to assess, and even more demand for innovation. These smart-tech savvy professionals can tackle it all with minimal fuss.