Will there be a procurement function in 2025? There are those who believe that robots will eventually replace it. SAP Ariba isn’t among them. Commerce is, after all, a social function driven by buyers and sellers. As SAP Ariba sees it, technology will make business more personal, contextual, intelligent and efficient in the years ahead. And in the process, procurement will become less tactical and more strategic. The company will share this vision, as outlined in Procurement 2025, at SAP Ariba Live, the premier business commerce conference being held this week at Caesars Palace in Las Vegas.
“For the last two decades, procurement has been on a journey that has led to dramatic transformation. But the journey is just beginning,” said Marcell Vollmer, chief digital officer, SAP Ariba. “Over the next 10 years, companies will face more opportunity and disruption than ever. And procurement will play a critical role in maximizing these opportunities to create business value. In embracing digital technologies and strategies, procurement can reimagine the function and beyond delivering cost savings and process efficiencies, fuel innovation and market advantage.”
So what will procurement and the technologies used to power it look like in the future? According to Procurement 2025:
Not Your Father’s Buyer – Far from managing orders and invoices, procurement will leverage technology to automate mundane tasks and focus on strategic work, becoming a key driver of corporate goals and business innovation. Intelligent systems will be self-learning, providing consumer-like, personalized user experiences that make purchasing a snap.
Brand Ambassadors – All companies want to do well. But procurement will also help them do good and become stewards of corporate reputation and brand perception by ensuring a sustainable supply chain.
Chief Collaborators – To achieve their cost, revenue and cash flow goals, companies need to be connected. Procurement will take the lead in driving a more collaborative way of doing business, using networks to connect to suppliers, customers and partners around the world to efficiently get things done.
Super Networks – To create value, networks need to network. Hyperconnected ecosystems will become the standard for procurement, enabling a unified process from source to settle that delivers speed and business agility.
Data Drivers – Data is the new currency. And buyers and sellers alike will leverage real-time insights, predictive analytics, blockchain and artificial intelligence to make smarter, more informed decisions that move their businesses forward.
“Procurement organizations are on the brink of more change – and the future is bright,” Vollmer said. “In the coming years, procurement will rethink everything from technology and resource allocation to talent and skill sets and remake the function to operate the way they want it to and the way it should.”
To learn more about SAP Ariba’s vision for procurement and how the company can help you can make it a reality, click here.
About SAP Ariba
SAP Ariba is how companies connect to get business done. On the Ariba Network, buyers and suppliers from more than three million companies and 190 countries discover new opportunities, collaborate on transactions and grow their relationships. Buyers can manage the entire purchasing process, while controlling spending, finding new sources of savings and building a healthy supply chain. And suppliers can connect with profitable customers and efficiently scale existing relationships – simplifying sales cycles and improving cash control along the way. The result is a dynamic, digital marketplace, where nearly $1 trillion in commerce gets done every year.