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?
This report highlights how procurement is evolving from routine task management to a strategic role. Enterprises are maintaining operational efficiency by outsourcing high-value tasks to external experts while leveraging generative AI, allowing more focus on strategic activities. Enterprises are also enhancing ERP systems to improve compliance, spending visibility, and user experience while investing in sustainable practices and supplier diversity. This report helps organizations adapt to these trends, offering a clear strategy for modernizing procurement operations.
The Procurement Business Process Transformation 2024 Market Insights™ aids enterprises in identifying important market trends and expectations for procurement projects they participate 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)
-
- Definition and scope of procurement business process transformation
- Key enterprise procurement trends shaping the market
- Avasant recognizes 15 top-tier providers offering procurement business process transformation services
Demand-side trends (Pages 8–12)
-
- Internal procurement teams show higher productivity and efficiency, with a focus on strategic in-house expertise.
- Procurement dynamics vary across industries with the healthcare industry’s distinct procurement and workforce allocation strategy.
- Industry-specific solutions are gaining traction as enterprises adapt to evolving procurement needs and seek more tailored solutions.
- Enterprises are prioritizing the adoption of targeted Gen AI applications as a first step in their broader Gen AI strategy.
Key contacts (Page 13)
Read the Research Byte based on this report. Please refer to Avasant’s Procurement Business Process Transformation 2024 RadarView™ for detailed insights on the service providers and supply-side trends.