Procurement processes have changed a lot in recent years, both in retail and in B2B commerce – operations are increasingly digitized and remote negotiations are taking a significant space in the market.
In today’s post, Luiz Gastão Bolonhez, Vice President at Mercado Eletrônico, shares his viewpoint on the importance of digital transformation in procurement, and all the haste and urgency caused by the covid-19 pandemic.
Keep on reading!
Presence in the digital environment is an urgent case
During a live that I held with Leonardo Framil, CEO of Accenture Brazil and Latin America, he commented that the covid-19 pandemic showed the urgency for the presence of businesses in the virtual environment – and this led to technological deployment processes, which would normally occur within three years, to be done in just three months.
Recently, we observed a huge disruption in several sectors, which increased competitiveness even further, along with the search for solutions to solve modern problems in a short time.
Businesses realized that dedication to the market’s strategic potential must be a priority, and this is even more latent and visible in the B2B procurement sector.
More than ever, we must now go beyond the basic and operational processes, and show the strategic and creative ability to adapt to new demands, which change in the blink of an eye.
Digital transformation is key to make all this possible.
Technology reduces B2B procurement costs up to 17%
According to a study called “World-class procurement: redefining performance in the digital age”, investments in new technologies reduces the costs generated by procurement areas up to 17%.
These investments can be linked to several sectors in the area, such as management and organization of inventory and suppliers, and data analysis, for instance.
The latter, by the way, allows businesses to analyze the market more efficiently, and make quick decisions to drive business efficacy.
Procurement automation: more streamlined, transparent and strategic processes
On-line procurement management platforms make the difference in digital transformation – such tools make processes more streamlined, transparent, organized and strategic.
Additionally, they also eliminate the need for rework and reduce risks dramatically.
Through such platforms, businesses have access to several features, such as contract management, digital signatures (documents can be checked remotely, decreasing the use of paper) and risk management.
Even with all precautions, any business is subject to problems, and anticipating them may be the key to avoid crises.
Those who doesn’t undergo digital transformation will lose prominence
In addition to all practical benefits of everyday life, digitization also allows businesses to be closer to their suppliers, which improves the relationship and makes them sustainable business partners.
Now, more than ever, those who aren’t adapting themselves to this new market reality will lose prominence.
You must be aware of everything new that comes up, and understand what tools shall be incorporated into the procurement sector to ensure business success.
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