This report identifies key demand-side trends in the procurement business process transformation services space, helping enterprises fine-tune their procurement operations. It provides an overview of key observations and enterprise challenges that Avasant considers important to highlight in the procurement outsourcing space.
Why read this Market Insights?
The procurement function is constantly evolving as Chief Procurement Officers (CPOs) focus on improving supply chain resilience and deriving higher value from their sourcing and procurement processes. Enterprises are increasingly scaling up digital adoption to fill in white spaces in their existing ERP systems, deliver better user experience, and improve compliance and spending visibility to meet the emerging CPO priorities. Moreover, CPOs are interested in supporting their companies’ ESG programs by measuring scope 3 emissions, investing in sustainable materials, and enabling supplier diversity and dedicated reporting.
The Procurement Business Process Transformation 2023 Market Insights™ aids enterprises in identifying important market trends and expectations for any procurement projects they take part in.
Methodology
The industry insights presented in this report are based on our ongoing interactions with enterprise CXOs and other key executives; targeted discussions with service providers, subject matter experts, and Avasant Fellows; analyst insights from primary and secondary research; and lessons learned from consulting engagements.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–7)
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- Definition and scope of procurement business process transformation
- Key enterprise procurement trends shaping the market
- Avasant recognizes 15 top-tier providers supporting the enterprise adoption of procurement business process transformation services
Demand-side trends (Pages 8–14)
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- Supply chain disruptions have changed CPO priorities and the nature of procurement engagements.
- As strategic sourcing becomes a top CPO concern, enterprises are strengthening their sourcing strategy and execution capabilities.
- Risk management is becoming a crucial part of procurement deals as enterprises continue to face supply chain and third-party risks.
- Digital transformation and technology adoption are emerging as key components in procurement transformation deals.
- The adoption of digital procurement tools is growing across the sourcing and procurement value chain.
- Enterprises are focusing on defining their ESG road map and moving toward a sustainable supply chain.
Key contacts (Page 15)
Read the Research Byte based on this report.
Please refer to Avasant’s Procurement Business Process Transformation 2023 RadarView™ for detailed insights on the service providers and supply-side trends.
