The report highlights the importance of digital procurement in corporate functions and its potential for improving efficiency, margins, and competitiveness. To achieve these goals, companies are focusing on improving procurement strategy, processes, and organization with well-trained individuals. However, the true potential lies in enabling these elements with digital procurement tools. Procurement efficiency is still a top priority for CPOs, and setting up a digitization roadmap is crucial. The global landscape for digital procurement solution providers is complex and diversified, making it difficult for procurement and IT departments to navigate. Full-suite solution providers covering almost all procurement needs are available, but companies need to carefully evaluate their options to find the best fit for their needs.
