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Beyond trends: The top 10 transformational realities redefining procurement

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In this on-demand webinar, hosted by Zycus and EBG Network, is an international panel of industry experts. The webinar features a presentation by Jon Hansen of Procurement Insights’, who discusses with the panel, about the top ten procurement trends for 2019 before zeroing in on the three specific areas that will have the greatest impact on procurement professionals right now and for the foreseeable future.

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Beyond trends: The top 10 transformational realities redefining procurement

  1. 1. Beyond Trends: Transformational realities redefining procurement Welcome to Today’s Webinar, presented by Zycus Thank you for joining us, we will begin momentarily.
  2. 2. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Zycus Comprehensive Solution Suite
  3. 3. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Zycus has been Recognized as a LEADER in Gartner’s 2013, 2015, 2017 and 2018 Magic Quadrant for Strategic Sourcing Application Suites Zycus : The Consistent Leader
  4. 4. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Forrester CLM Wave™ for S2C Suites: Zycus’ Leadership Continues ‘Zycus Cited as a Leader for a 2nd time in a row in Contract Life-Cycle Management.’ Zycus “shows strengths in CLM and the rest of its suite with AI leadership” according to The Forrester Wave™: Contract Lifecycle Management For Source-To-Contract Suites, Q1 2019
  5. 5. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay BEYOND DIGITALISATION The Dawn of Autonomous Procurement  Learn from Industry Maestros and Analysts like Gartner, Forrester, Spend Matters, The Hackett Group, etc.  Network with 100+ procurement and finance practitioners  Share business trends and exchange your experience with industry peers  Unwind at Budapest, a city known for its rich history and heritage Register at: www.horizon.zycus.com/europe. Use Coupon Code: WOMEN99 to register at only €99.
  6. 6. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Check out this On-Demand Webinar at : https://zyc.us/2XWovBj
  7. 7. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Today’s Expert Panel David Loseby FAPM, FCMI, FCIPS Chartered, FRSA CPO, Advisor, Author and Global Board of Trustees Member of CIPS  With over 25 years’ experience at senior executive/director level driving value and change through procurement, organisational transformation and change management, my background spans a variety of roles with significant global experience and responsibilities in both private and public sectors (pharmaceuticals, banking, FMCG, manufacturing, consulting, retail, venture capital, healthcare (NHS) & local Government. Formerly Group Procurement Director for Inchcape Plc., I was the principal architect behind one of the key strategic pillars for leveraging global scale across the group.  Author: "soft Skills for Hard Business", published by Cambridge Academic: ISBN: 978 1903 499 93
  8. 8. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Today’s Expert Panel Phil Broughton, Head of Business Programs - The Americas The Chartered Institute of Procurement & Supply  Phil is an internationally experienced commercial and relationship management professional focused on building successful projects with companies and organisations to help develop the capability of their procurement and supply chain people and drive improved performance through procurement and supply excellence.
  9. 9. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Today’s Expert Panel Chris Sawchuk, Principal and Global Procurement Advisory Practice Leader at The Hackett Group  The Hackett Group is an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices digital transformation firm to global companies, offering digital transformation including robotic process automation and enterprise cloud application implementation.  The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement and information technology, including its award-winning Oracle and SAP practices.  The Hackett Group has completed more than 15,000 benchmarking studies with major corporations and government agencies, including 97% of the Dow Jones Industrials, 89% of the Fortune 100, 87% of the DAX 30 and 59% of the FTSE 100. These studies drive its Best Practice Intelligence Center™ which includes the firm’s benchmarking metrics, best practices repository and best practice configuration guides and process flows, which enable The Hackett Group’s clients and partners to achieve world-class performance.
  10. 10. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Today’s Expert Panel Jon Hansen Editor and Lead Writer, Procurement Insights  As the Editor and lead writer for the Procurement Insights Blog, Jon Hansen has written nearly 3,000 articles and papers; as well as five books on subjects as diverse as supply chain practice, public sector policy, emerging business trends and social media.  In addition to being a much sought after speaker and moderator internationally, Jon is also the host of the highly acclaimed PI Window on The World Show on Blog Talk Radio, which has aired more than 800 episodes.  A two-time Ottawa Finalist for the Ernst & Young Entrepreneur of the Year Award, out of a group of 15,000, Blog Talk Radio named Jon Hansen as one of their top 300 hosts.
  11. 11. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay After The Webinar TweetChat . . . #Zycusproctrends
  12. 12. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Today’s Agenda  Area Of Greatest Impact  The Top 10  My Big 3
  13. 13. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Check out this On-Demand Webinar at : https://zyc.us/2XWovBj
  14. 14. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Perception = Reality
  15. 15. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Poll Number 1 In which area will your organization experience the greatest change in 2019?  Technology (the cloud and edge)  Workforce (i.e. skill sets, generational)  Process (Excel, relational)  Other
  16. 16. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay We Have IMPACT Technology Predictions  In 2010, the IoT device ratio to person globally was 1.84. By 2020 it will be up to 10 web-connected devices per every person.  According to IDC’s Global IoT Decision-Maker Survey, 43% of IoT decision makers want to build on edge computing.  According to the recently released IDC FutureScape Report, “By 2022, 60%+ of global GDP will be digitized.”
  17. 17. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay We Have IMPACT Technology Reality  McKinsey survey of 1,600 incumbent global companies found that just 23% have a digital strategy;  Only 2% of those have a digital strategy involving their supply chain;  The IDC report, Cloud and AI Adoption Survey, which was published in the summer of 2018 found that 80 per cent of customers will be repatriating workloads from public cloud environments to hosted private or on- premises locations over the next two years.
  18. 18. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay We Have IMPACT Workforce  According to a recent report by DHL, the changing role of a procurement professional requires them to have leadership qualities, strategic thinking, operational expertise, creativity and analytical skills;  The report also states that an estimated 25-33% of the current supply chain workforce is at or beyond retirement age, leaving many procurement teams with an aging, un-qualified workforce;  Organizations need to place a focus on attracting new talent that fit the new criteria, presenting a clear career path, with training and education for existing procurement staff. Source: The Impact of Digitalization And Status of The Supply Chain Profession Are Driving A Global Talent Shortage Crisis – DHL, July 27th, 2017
  19. 19. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay We Have IMPACT Process  The eXcel Factor: “Spreadsheets provide some capability for users to be creative and think through some ideas. For simple tasks, and for businesses with small SKU counts and low complexity, they might work to a degree. But they just don’t scale” (Chainlink Research);  According to a Procurement Insights Survey asking if procurement pros will ever stop using Excel: 56% said NO, 33% IS THERE AN ALTERNATIVE?, 11% said YES.  According to a Deloitte report on the transformation of procurement, supply assurance was one of the largest, growing year-on-year procurement risks. The answer = Better Relationship Management. Source: Charting the course: Why procurement must transform by 2020 – Deloitte
  20. 20. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay The Top 10
  21. 21. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Check out this On-Demand Webinar at : https://zyc.us/2XWovBj
  22. 22. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Poll Number 2 What Are Your Top 3 Trends?  Pervasive Talent Shortage  Blockchain  Cybersecurity Concerns  Big Data  Social Purchasing  Impact of Tariffs  Risk Management  Digital Transformation  Relational Management  Mergers & Acquisitions (Vendors and And-Users)
  23. 23. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Your Top #3 Choices
  24. 24. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay My Big 3
  25. 25. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Poll Number 3 Out of these 3, which is the one that resonates with you?  Digital Transformation  Workforce Skill Sets  Relational Procurement
  26. 26. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay My BIG 3 (Digital Transformation)  CHALLENGE: Despite the tremendous opportunity and promise, digital transformation and the realization of the full digital promise is an elusive quest because there is uncertainty as to how to make it happen.  SOLUTION: In CIO article from January 18th, 2019 “Digital workplace strategy: 10 steps to greater agility, productivity,” Senior CIO writer Clint Boulton suggests that “your digital transformation is doomed unless you empower employees to succeed in the digital era,” and a big part of that empowerment according to Boulton is to “craft a workplace that boosts engagement and agility.”
  27. 27. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay My BIG 3 (Workforce Skill Sets)  CHALLENGE: While digital transformation conjures up images of innovative technological breakthroughs, it is the paucity of required talent that will continue to limit the digital promise. 2019 will see the workforce from traditional IT capabilities to new levels of digital proficiency.  SOLUTION: According to Gartner your greatest source of competitive advantage will be your “workforce’s ability to exploit digital technologies creatively” through the “consumerization” of the work environment including “computers, mobile devices and productivity, and collaboration applications and, increasingly, chatbots, virtual assistant technology, personal analytics, and immersive workspaces.”
  28. 28. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay My BIG 3 (Relational Procurement)  CHALLENGE: Short Term Win – Long Term Loss Mentality, i.e., “There is no doubt that aggressive procurement practices are getting short term wins,” Hansen states. “The real question is, what are the long term consequences?” – Forbes March 2015  SOLUTION: Despite the prevalence of this conquer or be conquered mindset, it appears that the up and coming generation of procurement professionals are willing to forge a different path. Rather than taking the easy route of learning hard negotiating techniques, GenerationNext are more focused on building an informed exchange with what they view as partners in the buying process, as opposed to seeing suppliers as adversaries.
  29. 29. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay &
  30. 30. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay After The Webinar TweetChat . . . #Zycusproctrends
  31. 31. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Speaker Contact Information  Procurement Insights Blog: https://procureinsights.wordpress.com/  Twitter: @piblogger1  LinkedIn: https://ca.linkedin.com/in/jwhansen  News Story Hotline: 819-230-2131
  32. 32. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Frequently Asked Questions (FAQs)  Attendees of today’s event will receive an email thanking you for attending. In this email is the link to your CEH certificate and the archive of today’s presentation.  Continuing Education Hour certificate. CEHs are awarded to attendees who participated for at least 50 minutes of the seminar. You will receive an email within the next 24 hours containing your CEH Certificate.
  33. 33. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Check out this On-Demand Webinar at : https://zyc.us/2XWovBj

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