World-Class Procurement: Redefining Performance in a Digital Era
By The Hackett Group
To thrive in an era of intensified competition and volatility, the onus is on procurement to evolve its capabilities to not only become more efficient but also enable the enterprise to realize its strategic objectives. According to The Hackett Group’s 2019 benchmark data, a customer-centric approach to service delivery is helping world-class procurement organizations influence 93% of spend and generate 75% more savings than the peer group. Further, the emergence of digital tools such as robotic process automation and advanced analytics has given typical procurement organizations not only a new way to accelerate progress toward world-class status, but even exceed it if they fully optimize their technology architecture while reevaluating the way they work.
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The Hackett Group
The Hackett Group (NASDAQ: HCKT) 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. Services include business transformation, enterprise analytics, working capital management and global business services. 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 16,500 benchmarking studies with major corporations and government agencies, including 93% of the Dow Jones Industrials, 89% of the Fortune 100, 83% of the DAX 30 and 57% of the FTSE 100. These studies drive its Best Practice Intelligence CenterTM, which includes the firm’s benchmarking metrics, best practices repository, and best practice configuration guides and process flows that enable The Hackett Group’s clients and partners to achieve world-class performance.