So, what is the state of procurement in 2016?
In this year, we see the Procurement operation further evolving into a strategic body that is more critical to a company’s success than ever before. This new value model requires all stakeholders to become aligned. Procurement organizations that fail to make this shift will be at a significant competitive disadvantage.
Globally, Procurement has shared pain points related to areas such as contract compliance and un-managed spend. Yet, regional factors also play a critical role. These factors must be taken into consideration and explored fully.
This highlights the importance of the regional conference. A conference that brings together key procurement players for the sharing of challenges, potential solutions, and learning about what works through others’ success stories.
ProcureCon Asia is returning for its fourth year in Singapore, for these very reasons. It has established itself as Asia’s leading gathering for Global and Regional CPOs as well as Asian Heads of Procurement who are actively engaged in the evolution towards full strategic procurement.
Technology Concepts Group International (TCGi) is one of the sponsors of this event. With the launch of TCGi Singapore in 4Q of 2015, the TCGi team looks to better understand the needs of Asia-Pac procurement executives and professionals right at the source. Avis Yates Rivers, TCGi CEO will present on the topic of innovation in the streamlining of processes and reducing risk.
Please look for exciting news coming out of this important event which takes place on June 1st and 2nd.
Finally, as part of our sponsorship, we were key in helping to develop a benchmark report based on a survey of procurement executives about the state of procurement. This report digs deep into the challenges of Procurement organizations, primarily focused on the Asia-Pac region. Regionally, there appears to be man similarities. It will be available next week (see UPDATE below).
Our next series of blogs will highlight some of the findings and provide the link to the report. Don’t miss them!
UPDATE: Benchmark Report now available! Download it here: Challenges in Procurement!