Continuing our series of procurement and supply chain related predictions for 2020, we have gathered a variety of predictions from leading vendors in the procurement and supply chain market, and will add our own sprinkling of endorsement from analyst Magnus Bergfors in a follow up post.
Today let’s hear what London-based, international business process outsourcing and professional services company Capita has to say:
Its all in the Numbers
A continued focus on improved decision making through better use of data. Companies will continue to focus on improving the underlying data platforms / data sources used within the everydata decision-making process. Whilst we have a step change in this area there remains a significant gap between what is truly required against what organisations actually receive and use. We are working with a number of clients to re-set the source of truth data used across multiple workstreams to drive informed decision making whether it be on value, risk or financial processing
Tackling the Tail
The opportunity in the tail has long been a point of discussion within the procurement community. In recent times, maybe led by the combination of GDPR, risk management and this significant value opportunity, companies are actually now taking the decision to push ahead and re-engineer how they procure low-value goods and services. Within these programmes we are seeing and expect to continue to see focus on vendor consolidation, contractual compliance enabling improved supply-side relationships and unlocking resources within the business.
Competition to Collaboration
Procurement consultancies have started to recognise that as the client need matures a wider solution is required to meet the full spectrum of consulting demands. Put simply this moves from operation procurement delivery up to significant commercial transformation expertise. Few companies have top-level expertise in every area. To ensure that the focus is purely on the customer need a number of consultancies are now partnering on bids which traditionally would have been done in isolation leading to better outcomes from both the demand and supply side. In 2020 we expect more of these teaming solutions to go to market which will make it very exciting for the buying organisation.
Thanks to Capita – and look out for the last of the solution provider predictions tomorrow and commentary from our resident Analyst Magnus Bergfors the day after. This series will make interesting writing for the end of 2020 to see which were most accurate!
Please note that the order of vendor predictions in this series is based entirely on the order in which they dropped onto our digital doorstep, nothing more.