Gartner’s research anticipates that within the next few years 80% of all interactions between buyers and suppliers will occur in digital channels. With digitally-enabled supplier management and smart procurement processes, businesses can unlock potentially lower spend, improved innovation capability and increased supply base resilience.
We’ve collected actionable insights from industry leaders to help you with the successful design of your digital transformation roadmap, fast-tracking the desired ROI.
#1 Stack vs. Suite
A best of breed ecosystem of solutions that integrate is preferable over a larger solution that claims to cover all processes. The latter solutions often assume a one size fits all approach that makes no sense particularly for procurement with its processes and requirements that are generally subject to higher complexity.
“In the past, we have wasted time and money on larger solutions that claim they cover our requirements from Source to Contract. We ended up disappointed because even after all configuration options and capabilities were exhausted, those solutions barely met 60% of our requirements and that is just not good enough.”
CPO of a global leading Pharma enterprise
#2 Quick rollouts, quick win
Opt for cloud-based solutions that are straightforward and user friendly with minimum training requirements. Post pandemic times and the resulting remote work are the perfect time to take that tactical move and start using new solutions to get tangible results fast.
“Thanks to digital transformation, 50% of new product developments of our business throughout 2020 were triggered by procurement approaching R&D with the latest supplier innovations.”
CPO of a global leading FMCG enterprise
#3 Licence to succeed!
Beware complicated licensing structures. Choose solutions with transparent and flexible licenses that can be re-assigned as needed. Named licenses over the concurrent type for compliance and audit reasons and flexibility are not mutually exclusive!
“Remote work and increasingly stringent regulatory requirements are often not reflected in the licensing of solutions. We need to be able to demonstrate transparent decision processes which requires named licenses. Often this license type means rigid expiration and renewal and no option to re-assign to a different person when needed. This must change.”
CPO global pharma enterprise, France
#4 It’s all about connecting
Be sure new solutions integrate seamlessly via API – whilst you deploy various solutions to ensure all bases are covered, your stakeholders ideally only see one unified interface. Understand what data is and is not included in the provider’s API. An API does not automatically include all data that is hosted and managed in a solution.
“Many providers do not appreciate that to us their solution is crucial but also only a part of the bigger picture. We do not need 20 dashboards with great visuals in different solutions, we need the data behind it to roll up information internally as part of the comprehensive bigger picture. Dashboards are great, but we also need the data behind them for internal cross-departmental analytics beyond a solution’s scope.”
CPO Leading Pharma enterprise, Switzerland
#5 Be an incubator of innovation – work with startups
Consider working with startups as they have greater flexibility to innovate. With clear agreements on IP rights, working with startups is a win-win situation – with their technical knowledge and your procurement know-how the sky’s the limit!
“Instead of betting on big names we give startups a chance. We identify a process requirement, a gap, a need – we look for a startup and we talk and solve it together with them! Any startup is welcome to reach out to us, if their solution has a place or solves a problem in our product journey, we are always interested.”
Chief Digitization Officer of a global Pharma leader
Learn how to supercharge your digitalization roadmap with artificial intelligence. Why not schedule a product tour today? Explore Scoutbee’s capabilities, and see just how we can help drive your procurement success.