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How to Power Next-Generation Procurement with Intelligent Operations

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How to Power Next-Generation Procurement with Intelligent Operations

  1. 1. INTELLIGENT OPERATIONS Powering Next-Generation Procurement with Empower your business with information and experiences that matter
  2. 2. OPPORTUNITIES Digital continues to upend established industries and markets, creating inside and outside your organization. The ease and elegance from the “procurement” tasks you do at home as consumers on Sunday apply to the work you do on Monday.
  3. 3. Digital is reshaping what people want and expect, putting pressure on enterprises to think differently about the experiences they need to create. 38% 38% Procurement Enterprise Buyers 41% 30% Keeping pace with the user experience Understanding user expectations and preferences Anticipating user needs 50% 38% Procurement Enterprise Buyers Procurement Enterprise Buyers 34% 35% Procurement Enterprise Buyers The most challenging aspects of engagement A TOP-THREE business challenge: improving the user experience
  4. 4. THREE Making more predictive decisions based on rapidly accessible real-time data across the organization of the top five business drivers that will impact the business are about data and experiences Micro targeting customers Organizations interest in and ability to make data-driven decisions Procurement 45% Creating compelling experiences, both 34% Enterprise Buyers Procurement 39% 34% Enterprise Buyers Procurement 38% 42% Enterprise Buyers And procurement is no exception INSIDE AND OUTSIDE the organization, requires rich data and information
  5. 5. Yet, organizations today design procurement and finance to support the process, not the user experience. HUMAN AND DIGITAL EXPERIENCES. Business stakeholders need improved It’s time to do procurement differently, not just better.
  6. 6. Organizations need to become intelligent and unlock the power of data – the fuel for information and experiences your stakeholders need and expect. A DATA-DRIVEN ONE Shift from a process-driven function to Organizations underestimate the volume of data needed to power the future of next- generation procurement. They have data strategies in place, but they need to do more—especially with data curation. Data aggregation/ingestion Data lakes Data curation 61% 25% Only 13%
  7. 7. Two of the key technology enablers are And they need to apply technologies to that data to improve business processes and drive faster, more intelligent decisions. ARTIFICIAL INTELLIGENCE and INTELLIGENT AUTOMATION.
  8. 8. You may think you have optimized procurement and finance, but there is more fuel embedded in sub-optimized, old ways of thinking. AGILE AND RESPONSIVE Eliminate the stubborn obstacle of legacy technologies and processes to become more Legacy processes and technologies are preventing organizations from achieving their business goals Estimated amount of legacy technology and process 70% 55% Procurement Enterprise Buyers Procurement Finance and Accounting still have 26-75% legacy 54% still have 26-75% legacy 66%
  9. 9. ALONE Don’t try to go it There’s no reason to reinvent the wheel. Organizations should leverage the full range of capabilities and resources their ecosystem can deliver. The ecosystem can help organizations fill in their skills, data, and technology gaps that stymie their ability to deliver better experiences.
  10. 10. TOP ENABLER to help the organization achieve its business goals Working closely with ecosystem partners TOP WORKFORCE REQUIREMENT Exploring new ways of partnering across the services ecosystem 82% 68% Enterprise Buyers Procurement 40% 38% Enterprise Buyers Procurement
  11. 11. TOP Drive change from the Procurement The two triggers for change that matter. Only the c-suite can drive transformation end-to- end to overcome barriers like process silos and short-term band- aids, hurdles that continue to prevent procurement from making the shift to focus on experiences first. Top-down directive to drive growth Top-down corporate directive to cut costs Enterprise Buyers Procurement 34% 24% 20%20% Enterprise Buyers
  12. 12. BIGGEST BARRIERS Overhauling legacy process and technology Lack of long-term investment Short-term actions Lack of talent People afraid of change Lack of relevant IT skills Lack of digital /transformation leader Internal processes too siloed Lack of relevant data analytics, AI, machine learning skills Lack of clearly defined business goals External ecosystem partners lack necessary capabilities to achieving business goals PROCUREMENT 70% 66% 63% 61% 61% 59% 59% 57% 57% 48% 45% ENTERPRISEBUYERS 55% 55% 54% 56% 58% 54% 54% 54% 54% 48% 50%
  13. 13. PROCUREMENT TRANSFORMATION It’s time for of procurement executives believe transforming procurement is a priority for their organization. 67% The future belongs to intelligent operations. The opportunity exists to jumpstart new value creation and growth at a time when companies need it most.
  14. 14. NEXT GENERATION PROCUREMENT BEGIN YOUR JOURNEY TO https://www.accenture.com/us-en/insight-digital-procurement-process Experience-focused Digitally-driven Insight-led

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