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The Future of Finance & Procurement: A Changing Workforce, A Changing Workplace
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The Future of Finance & Procurement: A Changing Workforce, A Changing Workplace

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The business world is changing. And so are the people within it. The next wave of Finance and Procurement professionals will come from the generation known as the Millennials: digital natives for whom …

The business world is changing. And so are the people within it. The next wave of Finance and Procurement professionals will come from the generation known as the Millennials: digital natives for whom social, mobile, and cloud technologies, and the philosophies they create, are bound into the very fibers of their lives.

But what does this mean for those organizations employing and selling to them? Take a look at this infographic to get a picture of what it takes to prepare for the Millennials.

And download the webinar replay featuring SAP Cloud CMO Tim Minahan and Outsource Magazine Editor Jamie Liddell here: http://www.ariba.com/resources/library/preparing-for-the-millennials-the-future-of-finance-and-procurement

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  • 1. THE FUTURE OF FINANCE AND PROCUREMENT: A CHANGING WORKFORCE A CHANGING WORKPLACE LOOK TO THEMILLENNIAL GENERATION TO FILL THE RANKS. BORN 1980-2000, THEY COMPRISE A GROWING PERCENTAGE OF THE WORKFORCE: HERE’S WHAT SETS THEM APART: 47% THEY’RE EDUCATED DIGITAL NATIVES WHO HAVE BEEN IMMERSED IN TECHNOLOGY THEIR ENTIRE LIVES. IN 2014 70% OWN A SMARTPHONE 75% 25% HAVE A TABLET 75% 52% USE SOCIAL MEDIA BY 2025 HAVE OVER 300 FACEBOOK FRIENDS. THE TOP 10% HAVE OVER 1,000 91% PUBLICIZE THEIR FACEBOOK PLACES AND FOURSQUARE CHECK-INS “WIRELESS,” WITH A PENCHANT FORKNOW WHAT WORK LIFE SHOULD LOOK LIKE:, SHARING INFORMATION THEY 81% 37% WANT CONTROL OVER WOULD TRADE SOME THEIR WORK SCHEDULES PAY FOR FLEXIBILITY IN WORK SCHEDULE AND LOCATION 88% WANT WORK TO BE FUN AND SOCIAL COMFORTABLE WITH ADVANCES IN BUSINESS AND PROCESS TECHNOLOGIES, 71% WOULD LIKE TO WORK ABROAD 67% THEY VALUE STREAMLINED EFFICIENCY. 67% 76% A MAJORITY BELIEVE THESE TOOLS WILL BECOME MORE TABLET COMPUTING CLOUD COMPUTING VIRTUAL MEETING ROOMS IMPORTANT OVER THE NEXT FIVE TO 10 YEARS: BOTTOM LINE: TO APPEAL TO MILLENNIALS FINANCE AND PROCUREMENT ORGANIZATIONS NEED TO EVOLVE, “GET WITH IT.” MORE STREAMLINED, EFFICIENT, AND AGILE. THAT MEANS: NO PAPER, NO FAXES, AUTOMATED, NOT MANUAL, REAL-TIME INFORMATION, CROWDSOURCING MICROTASKING, REAL-TIME COLLABORATION, NETWORK ANALYTICS AND RATINGS SOME STRANGE VOCABULARY? DON’T WORRY, THE NEXT MILLENNIAL 75% AND THEY VALUE GUIDANCE, TOO: WOULD LIKE TO HAVE MENTORS YOU HIRE CAN PROVIDE SOME REVERSE MENTORING. TOGETHER, WITH YOUR EXPERIENCE THEIR TECH-SAVVY VIEW OF THE WORLD, YOU CAN CREATE A MORE NETWORKED ENTERPRISE. “NETWORKED ENTERPRISES WERE 50% MORE LIKELY THAN THEIR PEERS TO HAVE … INCREASED SALES … 24% INCREASED REVENUE … HIGHER PROFIT MARGINS … 8% HIGHER MARGINS … GAIN MARKET SHARE … 43% GREATER MARKET SHARE …AND BE A MARKET LEADER.” ARE YOU READY FOR THIS OPPORTUNITY? LEARN MORE: PREPARING FOR THE MILLENNIALS THE FUTURE OF FINANCE AND PROCUREMENT A RECORDED WEBINAR WITH OUTSOURCE MAGAZINE AND ARIBA, AN SAP COMPANY DOWNLOAD IT TODAY SOURCES Scarborough Research, Getting Inside the Millennial Mind (Infographic) PGI, When It Comes to Business, Does Father Still Know Best? (Infographic) UNC Kenan-Flager Business School, Maximizing Millennials: The Who, How, and Why of Managing Gen Y (Infographic) Pew Internet and American Life Project, The Millennials: Best.Generation.Ever (Infographic) Deloitte Consulting, “Who are the Millennials?” McKinsey on Business Technology, Spring 2011 – “The Rise of the Networked Enterprise”

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