The Key to Smart Digitization at the SIG Procurement Technology Summit
The focus: How procurement leaders can best manage their digitization journey to effectively deliver value across the organization.
The event: At the recent SIG Procurement Technology Summit, Coupa VP of Procurement Michael Van Keulen joined Alpar Kamber, Head of Procurement Services at WNS – a next-generation procurement services provider – for an interactive webinar session, hosted by Stephanie McGarry, VP at SIG (Sourcing Industry Group), the premier global sourcing association.
Here’s a quick recap of some of the expertise shared:
Alpar shared that WNS’s latest research indicates that 83 percent of CPOs prioritize digitalization as a key objective -- yet, only 28 percent of those CPOs have seen great adoption and positive ROI from their investments. How does a procurement leader address this challenge?
Recognize the importance of change management in smart digitization
According to Van Keulen, “The key to digitization is change management. You need to both understand your current processes and envision how they will look in a digitized process, making sure that whatever (technology) solution you pick, you involve the business and get user adoption. Without a user-centric platform, you won’t get the adoption, and then procurement doesn’t reap the benefits of digitization.”
Think holistically about your interconnected procurement ecosystem
Kamber shared the importance of recognizing how today everything in the procurement system is interconnected – disparate systems and siloed data just won’t cut it anymore. “What we’ve seen is that leaders think about their procurement ecosystem holistically. You may think the desired outcome is savings, but to get that ‘rain’ you need an entire ecosystem to support it. The whole idea is everything is interrelated.”
Watch the full webinar and learn:
- How to identify your digitization bottlenecks, the first step to knowing what you should be prioritizing
- Gain insight into how to create an operating model that enables you to segment tactical from strategic roles
- The importance of category management, contract management, and deep analytics
- How to create both upstream and downstream value through effective processes
The bottom line: Plan before you act and double your change management efforts
According to both Kamber and Van Keulen, smart planning and committed change management programs are the keys to success for digitization initiatives that can drive true procurement transformation. Kamber summed it up well: “Tools are essential enablers, but without the right plan, new processes, and change management programs, digitization efforts will fail.”
For more on how CPOs can get high-impact results from digital transformation projects, watch the full webinar, and read Alpar’s blog post, How CPOs Can Lead Smart Digitalization in 2020 and Beyond.