The World Procurement Congress in London discussed the importance of trust and active stakeholder engagement in procurement transformations at UK financial services firms Prudential and Yorkshire Building Society. Both companies implemented engagement programs to build a level of trust where procurement became a trusted advisor to the rest of the business. The procurement chiefs emphasized that there is no single ready-made solution for managing across borders, business units, and cultures in global organizations. While a global outlook is necessary, everyone needs to feel part of the same team, and resources must be deployed effectively and efficiently.
