Summary: Procurement is a critical business function that is evolving, constantly, to suit the priorities of the market. One way procurement maintains a system of continuous improvement is through digitalisation.
Dive into this post for insights into how e-procurement is transforming the industry, how it helps a business adapt to shifting priorities, and how our strategic partnership with Ivalua can optimise your key functions.
Procurement is a chain that is only as strong as its weakest link. Ensuring that you have a resilient ecosystem of partners and suppliers supporting your procurement operations is critical.
This ecosystem promises sustainability, swifter crisis management and recovery, and greater business success in the short and long term.
E-procurement and the future of the function: Digital solutions promise sustainability, efficiency, and better risk management—but only when implemented correctly. Much like most other digital systems, e-procurement increases productivity and transparency while reducing costs.
While e-procurement is the future of business, it is important to keep the human aspect of the industry in mind at all times. Procurement is supported by a system of partners and suppliers that are essential to a company’s objectives and day-to-day activities. When these priorities are recognised, the e-procurement solutions that are implemented support these goals.
Adapting to procurement priorities: The priorities of each critical business function are shifting constantly. Post-COVID-19, resilience and sustainability will take centre-stage as the leading priorities for crisis recovery. Purchasing managers will need to prioritise these values and ensure that all business activity fosters these qualities.
The role of e-procurement: Digitalisation is a method that helps a business build robust frameworks that will support growth objectives and sustainable business operations. That is why e-procurement is no longer an option but a necessity for most businesses.
How Kronos Group expertise will help you implement an e-procurement solution: Kronos Group’s expertise in procurement has been built over years of experience and training in leading industry practices.
Our strategic partnership with industry leader, Ivalua, has helped us benefit from their expertise in unified source-to-pay suites. The cutting-edge solutions developed by Ivalua is just one method through which we help optimise our clients’ procurement functions.
Kronos Group’s procurement optimisation solutions include procurement maturity assessments, procurement outsourcing, procurement training, and Procurement 4.0. Contact our skilled procurement professionals for more information and expertise.