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3 Key Procurement Strategy Predictions for 2020

Yesterday seems a long way away, and tomorrow is getting closer by the minute. It’s amazing to see how that future is unfolding, with new technology, digital capabilities and cost saving opportunities changing the face of the procurement industry. It doesn’t matter if you’re in Kuala Lumpur, Kanpur, or Kansas, your business landscape is shifting.

This new business ecosystem is connected. At Procurehere, we want to be part of that, connecting clients around the world to our secure, cloud-based e-procurement solution. That means buyers and sellers from across the globe joining together for one shared opportunity.

Being the world’s leading e-procurement system means a commitment to building solutions for today, designed to support the needs of tomorrow.

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So what could that future hold? Thanks to a recent Deloitte report, Charting the course: Why procurement must transform itself by 2020, we can pick out 3 important predictions that might shine a light on tomorrow.

#1 Procurement becomes more tactical

As procurement professionals, we understand the importance of what we do. But by 2020, Deloitte predicts that procurement will grow to play an even more important tactical role in the finances of a business. It will not only cover essential procurement events, but contribute a more important part in big business decisions. That means taking a seat at the table next to departments such as sales, marketing and corporate development.

This idea of strategic oversight is at the heart of Procurehere’s e-procurement solution. We put the power of informed decision making in your hands, with a clear overview of on-going events and easily referenced transactions history. That means as a procurement leader, you have the tools to easily review, reference and present your financial performance. That’s the solid first step for smart decision making as part of a tactical business role.

#2 Procurement will have a bigger role with risk management

Risk management? It’s going to get a lot riskier by 2020 according to Deloitte, with procurement professionals set to become an even more important part of an organisation’s strategy. The behaviour of your suppliers will be a particularly important focus. Increasingly global procurement connections mean we have to focus on everything from local considerations to important aspects of sustainability, safety and labour practices. In a world of connected social media, any negative opinion is easy to share.

A clear, transparent supply chain is an important part of e-procurement opportunity like Procurehere. With streamlined RFx, Auction and Purchase Requests, you can easily reference suppliers and track records of previous events. The ability to request additional information and attach documents as part of a tender can also provide a great opportunity, allowing you to request additional documents and accreditations that form an important part of risk management.

#3 Procurement gets more talented

We all know it’s not just processes, but people that deliver success. By 2020, the talent in our procurement operations will be more varied, and even more important. Today’s modern procurement function already requires people that can interact with HR, IT, and customer service, while also offering important outward facing negotiation and business skills.

We know that simple solutions to complex problems are part of tackling this challenge. Procurehere’s user-friendly platform offers a bridge between the requirement for powerful solutions and key skills and capabilities. Our simplified solution is easily adopted, and easy to use, helping you free up specialist talent like data analysts and scientists to help support procurement throughout every level of an organisation.

Prepare for the future today

As a user of Procurehere, you benefit from a simple, user-friendly platform that’s constantly evolving. Our commitment to customers is to ensure we continue to deliver the market leading e-procurement solution, which continues to adapt to a changing market. That means you can focus on valuable procurement savings, while the expert team at Procurehere focus on developing new, powerful solutions as part of our cloud-based system.

We’re proud to offer the world’s best e-procurement solution for businesses of any size. And thanks to the Procurehere app, you can even benefit from those powerful procurement opportunities on the go, with simple oversight and approval.

In a landscape that’s constantly evolving, you need a solution that can adapt to change. At Procurehere, we’re proud to offer just that. We’re committed to simple solutions, user-friendly functionality, and future-proof opportunity. So what are you waiting for?

Get your business ready for the future with a free trial of Procurehere today

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