In their most recent report, surveying 100 procurement, supply chain, and risk management leaders across the U.S. and Canada, ProcureCon found that 66% of CPOs are closely tied to the strategic IT planning process with their CIO/CTO colleagues. This collaboration is a key success driver for companies and reveals the ongoing trend toward breaking down silos between procurement, finance, and IT, enabling improved processes and cost savings.

But there is more opportunity as many procurement professionals are not integrated fully, or at the right time, into the technology decision-making process. Through the lens of a variety of leaders, from C-level to directors, this report looks at current working relationships and processes and offers some insights into where professionals should look to head in the future for better decision-making and maximum efficiencies.

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This report highlights ways in which CPOs and procurement leaders can remain strategically relevant and continue to make an impact through:

Sourcing and vetting technology solutions in collaboration with IT departments
Outsourcing business functions like cybersecurity to gain expertise and advanced technology
Encouraging regular, and early, communication between procurement and IT departments

“Fostering closer collaboration and establishing dual leadership in technology projects are key strategies for enhancing procurement's role in IT strategy.”