With 2019 already in full swing, and the already rapidly changing business landscape, it’s important to stay on top of new trends for procurement. Understanding the innovations and challenges of are important to strategically prepare for a successful 2019. We have rounded up a list of top procurement reports to arm you with the resources and trends to help your finance and procurement organizations make better business decisions and drive hard dollar cost savings for your enterprise organization.

1. Deloitte – Leadership: Driving innovation and delivering impact – The Deloitte Global Chief Procurement Officer Survey

This procurement reports provides an interactive view into procurement trends from 2018 and beyond. Deloitte highlights the key capabilities in the industry that result in high performing teams. Procurement plays a pivotal role in the advancement and transparency of supply chain to deliver cost reduction across the entire enterprise. High performing organizations will be able to remain leaders in the industry as they fully embrace the digital transformation of procurement.  

2. Bain – Digital Procurement: The Benefits Go Far Beyond Efficiency

Bain looks into the rapid advancement of digital in the procurement industry. By automating tedious tasks, procurement teams can better help drive hard dollar savings. Bain’s report examines how digital technology in procurement can help with efficiency and effectiveness for an organization.

3. Mckinsey – Turning indirect sourcing into a multimillion-dollar profit center

Mckinsey focuses on indirect sourcing for retailers. This report sheds light on the retail industry and their ability to gain visibility to their indirect spend. Research finds that implementing an effective and efficient sourcing process enables procurement to make better strategic decisions resulting in increased profit in 12 to 24 months.

4. Ernst & Young – Infinite Possibilities: Procurement in 2025

Looking into the future is important as you try to drive innovation for your procurement team. EY examines issues within globalization, social transparency, risk management, and sustainability and how these challenges will drive advancement of procurement by 2025. Understanding the road ahead is important to enable your procurement organization to make the best business decisions.

5. The Hackett Group – The CPO Agenda: Expanding Procurement’s Influence Through Change and Innovation

The Hackett Group explores how digital transformation will change the way procurement services are delivered in the next 2-3 years. This transformation will help procurement organizations contribute strategic business value for the overall enterprise. This report takes an in-depth look at the global research to understand the value that digital transformation has on enterprises.

6. Dun & Bradstreet – Compliance And Procurement Sentiment Report

This is Dun & Bradstreet’s first ever Compliance and Procurement Sentiment Report. They took information from procurement leaders across the US and UK to gain an understanding of what procurement and compliance professionals are excited about for their industry in the future. This report aims to help procurement and compliance professionals get the most insight into the challenges facing their space and provides them with resources to make the best innovative changes for their organization.

7. Spend Matters – E-Procurement Map

Spend Matters provides solutions maps for e-procurement, invoice to pay, and procure to pay services. Spend Matters wants to remind leaders that staying up to date with technological advances and understanding how they work, is the best way to help keep your team as efficient as possible. This map enables teams to get a better understanding of the technologies out there for a successful 2019.