A global research survey conducted by Forrester Consulting and commissioned by Ivalua revealed digital maturity is overestimated among most organizations within supply chain, procurement, and finance business leaders. A digital maturity index was used to evaluate organizations’ structure, strategy, process, measurement and technology and identified the stage of digital maturity. The results revealed only 16 percent of organizations were confirmed to have an advanced level of digital maturity in procurement out of the 65 percent of organizations that claimed to be advanced.
“Procurement leaders have the opportunity to deliver a true competitive advantage for their organizations,” said David Khuat-Duy, Corporate CEO of Ivalua. “Digital transformation is critical to success, but requires a realistic assessment of current maturity, a clear vision for each stage of the journey and the right technology.”
Additionally, the study discovered poor levels of supplier onboarding and poor user adoption were the top two primary reasons why organizations consider switching technology providers if they haven’t already, directly impacting their digital transformation efforts. Of these companies, only 17 percent are able to onboard new suppliers in less than one month while 59 percent take anywhere between one to three months.
“To ensure that technology empowers procurement transformation, rather than constrains it, leaders must consider their current and future requirements when evaluating options,” added David Khuat-Duy. “Doing so ensures a steady progression along their journey and the ability to gain an edge on competitors.
“Ivalua is uniquely able to empower and accelerate every stage of the digital transformation journey. Our platform helps organisations overcome obstacles like poor supplier onboarding and low user adoption. This is why we maintain the industry’s highest customer retention rate, at over 98%, year after year, while serving the most demanding brands in the world.”
To review the study in its entirety, visit: info.ivalua.com