Updated: Sep 15, 2021
Whatever organisation you are in if you venture into a finance meeting, a board meeting or just happen to be passing the office of the CFO (or it is your office!) you're bound to hear murmurs of procurement reform. It's a topic most of us can no longer avoid and for good reason. Everything your organisation does gives value to the mission and the people you serve, but for a long time procurement has been given an exemption based on the assumption that the process 'is what it is'.
The exponential growth of available new technology has left many feeling that we must do something... but what? Are we ready to completely change the way we have been sourcing for many... many years? Probably not. Given the rest of the organisation is likely to be undergoing extensive renovations to improve communication, information storage, policies and the scariest and most imperative or all... cybersecurity, procurement is usually sitting in it's usual 'hidden beneath the important' pile.
So what do organisations prioritise when constructing a digital reform strategy? That depends on the organisation's leadership, their experience and their ability to see the important rather than the urgent. There's plenty of urgent areas that demand reform and technology seems like the obvious solution. Usually the surface and immediate revenue generators get flagged at the top of the to do list. Second comes communication tools and cloud based software to manage the organisations day to day operations. Sometimes from the depths of the strategic plan and the cries for increased staffing the finance team may rate a mention for new accounting software but very rarely does any leader take a moment to question... hang on, what's happening with our sourcing?
So why is this the best place to start with digital reform? Because it's the easiest way to make the biggest organisational impact without disruption. The immediate benefits of increased governance, savings of both time and money plus the simple to implement software makes Vital Sourcing the best place to start for digital reform.
Why do we need to choose between enhancing and reforming when we can have both?