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The growing importance of procurement
Procurement organizations are persistently playing more pivotal and strategic roles on numerous fronts, driving strategic initiatives aimed at cost reduction, supplier risk, diversity and sustainability. Organizations recognize the growing importance of procurement and now expect them to build more strategic capabilities and go beyond what was once an administrative function to a driver of value. Meanwhile,, a tight job market leaves some organizations to do more with less.
As the procurement landscape changes, companies need to adapt. Harnessing advanced analytics, creating new operating models, and finding new ways to manage third-party expenditures are critical areas for businesses to future-proof their procurement programs.
PwC's Digital Procurement solution provides a comprehensive and dynamic solution to support an organization’s strategy to manage third-party spend and transactions. It brings people and technology together to identify and unlock opportunities that create value and transform how they do business through myriad ways: reducing costs, mitigating risk, improving efficiency, leveraging scale, and differentiating with their supply base, to name a few.
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There are ever increasing pressures from the market and executive leadership to drive value out of a firm's internal and external spends. Moreover, the definition of value continues to evolve. While price-to-price cost savings remain important and a legacy watermark other value propositions including visibility and assurance of supply, proactive risk monitoring and mitigations, and collaborative supplier/buyer cost optimization. Under this backdrop, data is king; however, procurement organizations continue to struggle to:
- obtain timely, accurate spend data from their internal systems
- collate and glean insights from available market data
- develop robust category strategies based on this internal and external data
- proactively use this data to monitor and mitigate risks
- collaborate with supplier to purchase goods and services in order volumes that are mutually beneficial.
The PwC Sourcing team has a proven strategic approach and proprietary digital assets to address these challenges and to identify / capture value for our clients. We leverage our experience, benchmarks and proprietary tools to drive this value creation while transforming the client’s procurement operating model.
Our analysis often finds that Sourcing & Procurement practitioners and enterprise customers feel that procurement is either ‘broken’ or has grown stagnant in it’s capabilities. Often processes are based on legacy ‘ways of doing things’, end to end tasks which are not efficient, and miss aligned expectations across internal users. Some or all of these findings lead to a poor customer experience and unsatisfied practitioners.
PwC leverages our experience, accelerators, and proprietary tools to help clients confirm their procurement organization requirements and helps build robust best-in-class procurement organizations. Our end to end transformation offering includes: Procurement Diagnostic, Target Operating Model, Organization Design which all includes technology and capability alignment (Sourcing & Category Management, Contracting, Procure to Payment, etc.).
Rapidly evolving S2P technologies are aiding in delivering on renewed expectations from executives to achieve sustainable process efficiencies, cost savings, effective controls, and superior user experience. PwC has a playbook of leading practices to transform “how S2P works” across people, process, and technology. PwC leverages a robust suite of capabilities and accelerators to create rapid and tangible outcomes.PwC’s experienced, multidisciplinary team is immersed in S2P transformations across industries and technologies.
In today’s organizations, procurement teams and resources are tied up with administrative pain points, forcing businesses to trade potential growth for basic maintenance. PwC offers transformative procurement services that go beyond basic administration, with a suite of tools and features to transform procurement from a supporting system into a critical growth partner while supporting your capacity needs.
Environmental, Social & Governance (ESG) is on the forefront of stakeholders’ minds with pressure mounting for corporations to invest accordingly. These pressures are driving leading companies to integrate ESG factors into their strategy and operations to reduce costs and risk, innovate, and drive revenue growth. We’ve helped clients across the globe address their ESG challenges with proprietary tools like PwC’s Sustainability Tracker and Supplier Action Hub, as well as with our Supplier Diversity and Responsible Sourcing frameworks. Whether it’s translating the overall ESG business strategy into sourcing and procurement operations, or supporting specific efforts in the areas of carbon emission reduction, waste management, and many others, PwC has the capabilities to support our client’s in tackling their toughest ESG-related sourcing and procurement challenges.
Digital procurement enabled by trusted partners
We’ve established partnerships with selected companies to better serve your needs. These relationships complement PwC’s strategy through execution capabilities and allow us to deliver multi-competency programs to solve your most critical business issues.
Coupa’s Business Spend Management Platform unifies supply chain, procurement, payments, and treasury capabilities into a single solution that maximizes value across these functions. PwC is a Coupa Certified Partner focused on transforming our client’s into leading-class source to pay organizations. We are a multi-disciplinary team of business, technology, and change management practitioners with deep experience across Coupa’s suite of modules. We are passionate about helping our clients maximize value realization across procurement spend savings, process efficiency, compliance, user experience, and other intended business results.
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JAGGAER develops and provides comprehensive source-to-settle SaaS-based solutions, including advanced Spend Analytics, Category Management, Supplier Management, Sourcing, Contracts, eProcurement, Invoicing, Supply Chain Management and Inventory Management. We leverage Jaggaer’s spend and sourcing technologies as an enabler to our Digital Procurement solution, rapidly delivering valuable spend visibility, identifying value-generating initiatives and delivering results.
SAP Ariba provides standardized processes for strategic sourcing, contract management and procure-to-pay while significantly improving your data. PwC's solution can help you improve collaboration with suppliers, streamline invoicing, and optimize processes – all while giving you real-time insight into how your procurement @operations are working, enabling procurement to move from soft measures to savings-based on real purchases and demand reallocation.
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PwC has built its own full suite of 14 Third Party Lifecycle (TPL) capabilities, including enterprise planning, risk tiering, issue management and strategic sourcing by leveraging the Salesforce platform. Aside from being known and trusted by the broader industry, one of the key deciding factors why PwC selected the Salesforce platform to build our SRM solution was the ease of integration with the platform.
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PwC’s Digital Operations integrated solution supports strategy through deployment of connected supply chain with key digital solutions built on the Oracle Cloud ecosystem. Digital supply chain represents a paradigm shift from functional silos to a more connected ecosystem and enables companies to integrate visibility with planning and execution across the end-to-end value chain.
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