In the leadup to Mastermind LIVE 2022, Art of Procurement and Globality partnered to run a series of LinkedIn polls. We wanted to know how procurement believes they are viewed by the business and see what impact that perception has on procurement’s ability to generate value.
What we learned in those three polls is not a surprise, but when taken together, the information demonstrated just how important it is for procurement to invest in and streamline the experience they provide for internal stakeholders and distributed buyers.
For instance, 43 percent of respondents believe the business sees procurement as a necessary evil. That’s unlikely to be the brand association any procurement team is going for. Although… looking on the bright side, procurement is at least seen as necessary.
We also uncovered ways to improve that perception, namely by making the procurement experience more “consumer like” and using technology to empower stakeholders to meet their own needs.
What ‘worked’ in the past wasn’t working as well as procurement thought it was. Compliance-heavy approaches don’t foster the kind of relationship procurement wants to have with the business.
Being aware of prevailing perceptions is the first step. Once that has been digested, the path forward requires re-evaluation of procurement processes and technology, with an improved customer experience being the ultimate goal, and increased procurement results as the ultimate prize.
To download your copy of the paper, click here: Increasing Procurement’s Impact During Turbulent Times