White Paper: Connected Procurement

November 2019 | Procurement

With its current range of services, procurement has reached marginal utility. It is under massive pressure from internal customers to increase its value contribution, especially in times of digitalization. CPOs have also recognized that the classic procurement levers have been exhausted and that procurement is currently making insufficient use of the opportunities offered by digitization. In a survey conducted by Porsche Consulting, 100 CPOs therefore consider the business model of procurement to be unsustainable. However, the omnipresent term "Procurement 4.0" does not offer a solution, as it only aims at digitizing existing business processes. In order to be truly sustainable, procurement must rethink its entire business model and develop new services that are attractive to internal customers. This white paper shows how this can be achieved through the approach of "Connected Procurement" and using the opportunities of digitization beyond "Procurement 4.0". The five-step guideline shows CPOs the way to transforming their business model and thus secures the future of procurement as a value driver in the company.