I was asked to write a piece for CPOstrategy on the CPO digitisation agenda for 2024.
Summary
The P2P landscape in 2024 will be shaped by technological advancements and a shift in business priorities. From the integration of AI and blockchain to the emphasis on sustainability and mobile solutions, these trends are redefining how companies approach Procurement and supplier relationships.
Despite executive reluctance to engage in further investment, during periods of inflation and market stagnancy, digitisation must be embraced with the option to either pivot or perish.
Adoption of new systems and processes requires training and capacity planning within Procurement departments so that the business-as-usual services can continue without a downturn in service levels.
Businesses that adapt to these changes will not only enhance their operational efficiency but also position themselves strategically for future growth and success.