Digitally transforming procurement: the opportunity in the ‘long tail’
Digital technology has given the back office the chance to be at the forefront of business strategy. Some CPOs have already launched digital transformation initiatives and are at differing points on the maturity curve. Many are talking about it and planning to invest in it. A few are just talking about it, unsure how they get to the end goal: transforming the procurement function to make it more effective, resilient and flexible and deliver strategic value within a digitally-driven organisation.
For forward-thinking CPOs, digital transformation provides a once-in-a-generation opportunity to change the reputation of procurement as the department that says 'No' to one that has the strategic influence it deserves. That’s a generous reward for not much risk.
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