While price-to-price cost savings remains an important and a legacy watermark, new value propositions are becoming fundamental for optimising procurement efforts.
To this date, organisations continue to face a struggle in basic procurement functions:
- Obtaining timely and accurate spend data from internal systems;
- Collating relevant insights from available market data in a timely manner;
- Develop robust category strategies based on internal and external data;
- Proactively apply relevant data to monitor and mitigate risks; and
- Collaborate with suppliers purchasing arrangements (goods/services/volumes) that are mutually beneficial.
The PwC Strategic Procurement team has a proven approach and proprietary digital assets to:
(1) to identify an organisation’s pain points;
(2) address the noted challenges; and
(3) capture value for our clients.
We will leverage on our expertise in the field, refer to appropriate benchmarks and leverage on proprietary tools to drive this value creation, while transforming the client’s procurement process to include proactive risk monitoring & mitigating measures and collaborative supplier-buyer cost harmonisation.
Procurement organisations are persistently playing more pivotal and strategic roles on numerous fronts, driving strategic initiatives aimed at cost reduction, supplier risk minimisation, diversity and sustainability. Organisations recognise the growing importance of procurement and now expect them to build more strategic capabilities that go beyond what was once considered an administrative function, to a driver of value.
As the procurement landscape changes, companies need to continuously adapt to the ever-changing market environment. Harnessing advanced data analytics, creating new operating models, and finding new ways to manage third-party outlays are critical areas for businesses to enhance their procurement efforts.
PwC's Digital Procurement solution provides comprehensive and dynamic solutions to support an organization’s strategy to manage the procurement process, by synchronising human capital and technologies to identify and unlock opportunities that will create value. Transforming the procurement process could range across a myriad of ways: reducing costs, mitigating risks, improving efficiencies, leveraging on scale, and differentiating the supplier base, to name a few.
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