CPO Study 2020: Building Better Processes through Technology Driven Insights
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According to findings from the ProcureCon 2019 CPO Study, 50% of CPOs consider their digital transformations as complete, or mostly complete. As time goes on, this number is set to grow, as the urgency of transforming to remain competitive becomes increasingly apparent and the work of making changes is done.
In our next installment of this research series, WBR Insights will seek to quantify how the results of digital transformation activities are translating into changed workflows and better outcomes within the procurement environment. Some examples of tools that are contributing to these changes include the integration of AI, Cloud systems, and Blockchain. In 2019, our study revealed that 89% of CPO respondents were planning on increasing the proportion of automated processes within the procurement department to over 50% of all that are able to be converted. This reflects a massive shift in the overall working environment and time allocation of the group. It is important to better understand how technology will continue to change the way procurement functions, which tools are enabling these processed to develop, and how that will impact the high-level practitioner in the near future.
“CPO Study 2020: Building Better Processes through Technology Driven Insights” is a continuation of ProcureCon’s highest profile annual report series. Beginning in 2015, this report has taken a look at industry through the eyes of those driving it; the CPOs at the top of the Procurement pyramid. Don’t miss this latest installment of our flagship research report series!
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