Does your procurement team use technology to proactively mitigate risk?
Deloitte’s Global Chief Procurement Officer Survey 2019 explores the importance of embracing digital technologies to support and enhance the procurement function. Deloitte’s survey found that high-performing procurement teams had noticeably stronger digital capabilities than their peers.
Supply chain risk and compliance is more important than ever as we face the triple business challenges of a pandemic, a recession, and Brexit. This results in business uncertainty which resonates across all levels of the supply chain.
With as many as 68% of CPOs looking to improve and automate their procurement processes, a contract management system can prevent problems with supply chain, audit trails, and contract governance, as well as providing clarity through reporting.
Can your business honestly answer yes to these basic questions?
- Do you currently have contracts with all of your suppliers?
- Are you able to quickly provide a detailed audit trail of your supply chain?
- Do you currently have complete governance over contracts?
If your answer is ‘no’ to any of the above, contact us to find out how we can help.