|
The Forrester Wave™: Supplier Value Management Platforms, Q3 2024 See Report
Procurement Transformation
Glossary
What is Procurement Transformation?
Procurement Transformation marks a paradigm shift in the role of the procurement function, evolving from a historically tactical focus on cost reduction to a strategic business function that generates enhanced value. In response to the growing expectation for procurement to play a larger strategic role and deliver sustainable results, organizations undergo a comprehensive reevaluation and reengineering of their legacy processes. This transformative journey involves replacing conventional practices with agile, streamlined processes.
At its core, Procurement Transformation signifies the deliberate and strategic reorientation of the purchasing function. This encompasses a dual transformation, addressing both the processes and organizational structure of procurement. The shift is profound, moving procurement from a vicarious agent to a strategic business partner actively contributing to organizational success.
Successful Procurement Transformation initiatives recognize the importance of change management, as they bring about a fundamental shift in the way procurement is perceived and practiced within an organization.
Learn more about Ivalua's Procurement Platform.
At its core, Procurement Transformation signifies the deliberate and strategic reorientation of the purchasing function. This encompasses a dual transformation, addressing both the processes and organizational structure of procurement. The shift is profound, moving procurement from a vicarious agent to a strategic business partner actively contributing to organizational success.
Successful Procurement Transformation initiatives recognize the importance of change management, as they bring about a fundamental shift in the way procurement is perceived and practiced within an organization.
Learn more about Ivalua's Procurement Platform.
