Building Advantages in Procurement: A Wipro and ISG Whitepaper

Procurement organizations are facing steady pressure to become more efficient. Fortunately, new procurement platforms are filling the gaps, enabling enterprises to quickly cut procurement costs.

However, if not correctly integrated and implemented, these same systems and platforms can generate additional inefficiencies, leading to increased procurement costs and reduced procurement effectiveness.”

What Causes Procurement Inefficiency?

Procurement organizations today are increasingly prioritizing operational efficiency and business effectiveness. Unfortunately, these efforts are hampered by:

Siloed operations

cause inefficiencies due to varying user experiences, data formats and quality and limited interoperability.

Inflexible processes and software

lead to inability to accommodate functional and feature extensions that create Procurement value.

Inadequate Data Quality Management

leads to lack of trusted data for use in the procurement process and associated systems impacting analytics decision enabling.

The Procurement Platform of the Future

To address persistent procurement challenges, enterprises around the globe are acquiring and implementing platforms to address the gaps in existing procurement systems. These platforms ensure consistent data, policy enforcement, and UX, which consequently boosts efficiency. Leaders have observed cost reductions of 10% or more within the first 12 to 18 months of adopting such platforms.

But success is not guaranteed. Organizations need clear strategies and trusted partners to ensure long-term ROI from their investments in new procurement capabilities.

CnNXT, Wipro’s modularized source-to-pay suite, is a powerful catalyst for procurement transformation. Organizations can pick and choose modules to match their businesses, operations, and end-user requirements, or simply leverage the entire suite for their S2P operations.