401: Digital Transformation as a Foundational Requirement for Data-Driven Procurement

As digital transformation progresses, corporate leadership teams are increasing their focus on the quality and availability of data. Spend analysis is just one internal data resource in a sea of data ecosystems, but it has the potential to serve as the foundational connection point for all procurement analytics.

For this special series, Art of Procurement partnered with Sievo and Buyers Meeting Point to take a deep dive into procurement data ecosystems. We will explore how procurement leaders can meet their analytical requirements while also exploiting the full cross-functional value of data – data that enables corporate growth and competitive advantage.

In this episode, Philip Ideson and Kelly Barner provide a series recap and reflect back on the major take-aways from each interview and identify the connecting opportunities that bring them all together into one cohesive vision for data-driven procurement.

• What we learned about data from these diverse points of view, including what makes it valuable and how to approach the problem of poor quality data
• How to identify the breaks between people, systems, and processes that prevent data from driving strategic insights and actions
• The ways in which procurement has to approach data differently for the sake of its future potential, and how this connects to our vision for procurement as a whole