The Big Procurement Makeover Debate: Why procurement struggles to deliver value beyond cost-reduction
Thursday, July 25, 2019 | 11 AM ET
The mandate for procurement organizations is clear – cost reduction alone no longer ensures success; creating value is equally important.
Procurement needs speed, innovation, and analytics to become a valued business partner that enables the overall enterprise-wide strategic goals. Advancements in the Triple-A Trifecta (Automation, AI, and Analytics) in combination with other emerging technologies (such as IoT and blockchain) provide the necessary tools to get to the procurement promised land.
However, most procurement organizations continue to struggle. According to our latest research, only 5-7% procurement functions have scaled-up RPA and/or AI initiatives, only 5% have an enterprise-wide approach to using intelligent automaton within sourcing/procurement, nearly 60% are looking at piecemeal technologies or have no integration points between technology initiatives, and 30%+ still have no plans or are unsure about leveraging RPA, NLP, and other AI technologies altogether!
Attend this complimentary webinar to learn how the procurement organization at Horizon Blue Cross Blue Shield of NJ - with help from IBM - was able to overcome the challenges that are preventing most procurement functions from achieving their desired future state.
We will discuss:
- Latest HFS Research on why procurement needs a strategic makeover, the current adoption of emerging technologies by procurement, and the challenges faced by procurement executives.
- How the procurement team at Horizon Blue Cross Blue Shield of NJ is driving towards an increased ROI through a more modern and user-friendly experience that enables the overarching enterprise business strategy.
- The role that IBM is playing as a procurement partner by bringing to the table the latest and greatest technologies and services to solidify competitive advantage and differentiation for Horizon Blue Cross Blue Shield of NJ.
- Saurabh Gupta, Chief Strategy Officer, HFS
- John Viele, Chief Procurement Officer, Horizon Blue Cross Blue Shield of NJ
- Anita Karlsson-Dion, General Manager, IBM Cognitive Process Services
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