This white paper discusses the importance of digital transformation for procurement and how procurement functions can support a smooth and cost-effective transformation. The COVID-19 pandemic has accelerated the trend of digitalization, and organizations are turning to their procurement functions to help. However, many procurement teams are not properly equipped to enable digital programs, as they are more adept at traditional operations. The paper highlights the need for procurement to reassess its value-add and adapt to the new normal that prioritizes digital transformation. The paper also notes that curtailing the procurement team’s role in digital transformation and letting IT or any other department do its own strategic sourcing has its own drawbacks.
