World class procurement functions are undergoing distinct transformation where they continue to move from experiential decision-making to data backed decision-making. Procurement leaders are blessed with hordes of data and historic records which is mostly internal. They are constantly seeking market inputs from a variety of external sources to make sound, long term business decisions for their organizations. This can happen only through a digital transformation where the existing data sources, infrastructure, platforms and recommendation engines are challenged and re-engineered. Needless to mention, talent upskilling is a key area of transformation.   

To be competitive, procurement organizations need to cover three key areas when developing their digital strategy:

• How to create business value 
• How to get necessary enablements in place 
• How to build or integrate a solid data foundation

We will dig into ISG’s comprehensive and unique set of data, analytics, and market intelligence built through 30 years of sourcing and benchmarking, data collection and analysis, and showcase the digital business transformation in procurement/supply chain functions.