The CPO Agenda In 2018: Expanding Procurement’s Influence .
BUSINESS PROCESS OUTSOURCINGSOURCE-TO-PAY OUTSOURCING SERVICESWHITE PAPERThe CPO Agenda in 2018: Expanding Procurement’sInfluence Through Change and Innovationby The Hackett GroupBEST PRACTICES FOR YOUR P2P ORGANIZATIONDo you have an agile procurement team that can quickly respond to changingstakeholder demands?Canon Business Process Services is pleased to provide you withimportant research from The Hackett Group. The researchspotlights how new digital technology such as robotic processautomation and advanced analytics are seen as new areas whereprocurement can contribute strategic business value. Ninety-fivepercent of procurement professionals believe that digitaltransformation will fundamentally change the way procurementservices are delivered within two to three years. To meet growthexpectations and manage risk, these leaders are focused ondeepening collaboration with suppliers. The report alsoemphasizes the importance of enhancing procurement’s businessagility. For procurement teams, agility means finding new ways toharness the power of digital technology and quickly respond tochanging stakeholder demands.Canon Business Process Services canhelp your company improve your S2Pperformance with a customizedsource-to-pay outsourcing solution.Call 888-623-2668 or visitcbps.canon.com to learn more.
mCoplimenrytaeasRehrcThe CPO Agenda in 2018:Expanding Procurement’s InfluenceThrough Change and InnovationBy Constantine Limberakis and Christopher S. SawchukExecutive SummaryDespite an optimistic business outlook in 2018, procurement leaders are still wary about a range of risks with thepotential to reduce margins, from access to critical talent to managing cyber-risk. In this year’s edition of our annualKey Issues Study, procurement leaders indicate they are focused on deepening collaboration with suppliers to meetgrowth expectations and manage risk. They expect that 30% of procurement processes will be touched by digitaltransformation activity in 2018, foreshadowing a year of both benefits and disruption. Fully 95% believe digitaltransformation will fundamentally change the way procurement services are delivered within two to three years.Early positive signs from the implementation of digital technology (such as robotic process automation and advancedanalytics) are sparking interest in new areas where procurement can contribute strategic business value.A Context of Enterprise RiskEven the seismic shifts in the geopolitical landscape in 2017 could not disrupt theextraordinary changes underway as businesses transition from industrial-age to digitalage operating models. The main risks reported by participants in the 2018 edition ofThe Hackett Group’s annual Key Issues Study are all directly related to this shift (Fig. 1).FIG. 1 Current and projected business riskPercentage of companies ranking as “high risk” now, and projecting over next two 25%31%Cyber/informationsecurityAccess tocritical talentHISTORICAL* yriskPROJECTED (2018-19)29%Disruptiveinnovation38%18%24%20%IP theft/industrialespionage% PROJECTED INCREASE* Reported in 2017 studySource: Key Issues Study, The Hackett Group, 2018 2018 The Hackett Group, Inc.; All Rights Reserved. CR 6000205Procurement Executive Insight I The Hackett Group I 1
About this researchFor the 2018 edition of our annualKey Issues Study, executivemanagement and leaders offinance, human resources,information technology andprocurement organizations at aglobal set of midsized and largeenterprises were asked in late 2017about their strategic priorities andinitiatives for the coming year.The study results, which areanalyzed in separate reports foreach function, also guided thecreation of our 2018 researchagenda. Issues cited by participantsas top priorities or challenges willbe addressed in our research,webcasts and other AdvisoryProgram membership deliverablesin the months to come, along withrelated best practices; empiricaldata to assist in building a businesscase for change; time-tested andemerging solutions; and casestudies.Global data protectionregulation in the EuropeanUnionBy the end of May 2018, globalorganizations that collect, storeor process the personal data ofEU citizens will be required todemonstrate robust data securityand privacy practices. Newrequirements apply not only tocustomers, but also to third-partysuppliers that collect or process“personally identifiable information”(PII) for company employees orcustomers who are EU citizens.Cybersecurity is projected to be the top risk in the coming year. While organizations arefocused on remaining competitive, most are also aware that the relentless wave of dataattacks will continue. The importance in protecting customer information was furtherheightened by recent global regulatory requirements such as the Global Data ProtectionRegulation (GDPR) in the European Union (see sidebar at bottom left).Further, with more data than ever being generated, stored and managed, organizationsneed to strengthen their information management and business intelligence capabilitiesby training or acquiring new talent with the skills required to understand and use data.The biggest jump from 2017 to 2018 in business risks listed by respondents is access tocritical talent.Enterprise Initiatives in 2018 Focus on Growth and Operating-CostReductionThe theme of information and analytics as a driver of growth and innovation is reflected inthe major enterprise initiatives planned in 2018 (Fig. 2). Customer-focus improvement isthe top-ranked initiative, followed by product/service expansion. These are two essentialareas for generating top-line revenue growth. Improving the customer experience andsupporting innovation both require better, more easily accessed data.FIG. 2 Major enterprise initiatives planned for 2018Percentage of companies74%Customer-focus improvementProduct/service portfolioinnovation/expansion71%Enterprise operatingcost reduction69%64%Transform cultureSG&A transformation/costoptimizationInnovate go-to-market strategyExpand market presence56%53%50%Enterprise analytics capabilitydevelopment/improvement47%Improve caliber ofenterprise talent45%Global operationsrationalization43%Supply chain transformation38%NEW CAPABILITY DEVELOPMENTCAPABILITY OPTIMIZATIONSource: Key Issues Study, The Hackett Group, 2018 2018 The Hackett Group, Inc.; All Rights Reserved. CR 6000205Procurement Executive Insight I The Hackett Group I 2
Enterprise cost reduction is also a priority in 2018. Historically, cost-cutting programshave been carried out in functional silos, without much cross-functional coordination. Inthe era of digital transformation1, better alignment and collaboration between groups likefinance and procurement is necessary but often requires significant cultural change.Procurement organizations need to evolve to meet the demands of a rapidly changingbusiness environment, but must live with reductions in operating budgets averaging0.3% in 2018. Their goals for the coming year reflect their resource-constrained and riskyenvironment. Among these are improving their agility, elevating their role to that of a trustedadvisor, enhancing their cost-avoidance capabilities, and supporting enterprise digitaltransformation. While respondents rate support for these and other business objectives asimportant, they also acknowledge that their ability to address them effectively is relativelylow (Fig. 3). It is a great concern that one of the areas that procurement is least prepared toaddress is supporting enterprise digital transformation objectives.Moderate/HighFIG. 3 Importance versus ability: Major enterprise objectives in 2018Critical development areasReduce purchase costs1 Expand procurement’s scope/influenceEnhance operationalprocess efficiency2 Elevate the role of procurement to aImproveOPEX savingstrusted advisor to the businessModerateAbility to addressImprove purchasing compliance3 Improve procurement’s business agilityIncrease internalstakeholder satisfactionImprove costavoidance efforts14 Support enterprise digital transformationstrategy, objectives and initiatives2ImproveCAPEX savingscategories to drive value beyond sourcing5ImportanceWELL SUPPORTED5 Deepen influence on complex spend34Support enterpriseinnovation strategy,objectives and initiativesModerate(i.e., the ability to adapt quickly to meetchanging stakeholder ENT AREASource: Key Issues Study, The Hackett Group, 2018Improving procurement’s business agility is one of these critical development areas. Inthis context, agility means finding new ways to harness the power of digital technologyand quickly respond to changing stakeholder demands. Internal customers want thesame customer-friendly buying experience they have come to expect from businessto-consumer service delivery models (e.g., Amazon, Alibaba, eBay). Correspondingly,increasing internal stakeholder satisfaction rose from 5% in 2017 to 23% in 2018 amongprocurement respondents that noted this as a critical issue or objective in both years.1 2018 The Hackett Group, Inc.; All Rights Reserved. CR 6000205The Hackett Group defines digital transformation as “the creation of business value by improving customerexperiences, operational efficiency and agility by fundamentally changing the way organizations innovate,operate, deliver products and services, engage with stakeholders and execute work, using digital technologiesas the enabler of holistic transformation.”Procurement Executive Insight I The Hackett Group I 3
Improving agility will also be pivotal in elevating the procurement role to a trusted advisor.While many have worked toward this goal in the past, most still have room to improve.Procurement’s transformation requires addressing unresolved conflicts about its role inthe enterprise. For internal customers, it is all about better service delivery, achieving thebest price and finding innovative solutions. For accounts payable, it’s about improving thealignment of purchase-to-pay processes to prevent issues like duplicate payments. Forfinance, it’s about better collaboration to set realistic savings goals that align to budgets.Procurement Must Improve Four Key CapabilitiesConcerns about procurement’s ability to address critical development areas go beyondcapabilities required to help the enterprise meet its goals. Our analysis found criticaldevelopment areas that affect the function itself and also highlighted gaps between whatprocurement believes is important and what it can actually deliver (Fig. 4) in these areas: Align procurement skills and talent with changing business needs. Measure and managing procurement performance and business value. Obtain more value from existing suppliers through relationship management. Obtain more value from existing categories through category management.Each area is discussed in detail in the following pages.ModerateAbility to addressModerate/HighFIG. 4 Internal procurement-related issues: Critical development areas in 2018Critical development areas1 Align procurement skills and talent withchanging business needsIncrease spendinfluence throughstrategic sourcing effortsImprove procurementanalytical, modeling andreporting capabilities2 Measure and manage procurementperformance and business valueObtain more value from existing3 suppliers through supplier relationshipModernize(i.e., consolidate, upgrade,migrate) procurementapplication platforms4 Obtain more value from existingcategories through category managementObtain more value fromthe transactionalpurchase-to-payprocess automation3Integrate contractmanagement andpurchase-to-pay effortsModerateWELL NITYHighCRITICALDEVELOPMENT AREASource: Key Issues Study, The Hackett Group, 2018 2018 The Hackett Group, Inc.; All Rights Reserved. CR 6000205Procurement Executive Insight I The Hackett Group I 4
#1: Align procurement skills and talent with changing business needsIn 2018, 77% of respondents consider alignment of procurement skills and talent withchanging business needs to be of “high” or “critical” importance compared to 73% in2017. While the total increase is of minor significance, it is notable that the percentagethat consider this area to be of critical importance jumped from 10% to 17%, a rise of70% (Fig. 5). To meet this challenge, leading procurement organizations are looking atnew talent/skill areas, with 28% of respondents evaluating the addition of non-traditional,insight-related roles and skills (e.g., physicists, data scientists) to the organization.28%Portion of studyrespondentsconsidering addingnon-traditionalroles and skillsFIG. 5 Importance of aligning talent with changing business needs(e.g., physicists,Percentage of organizationsdata scientists) to60%2018the procurement63%2017organization.17%10%HIGHVERY HIGH (CRITICAL)Source: Key Issues Study, The Hackett Group, 2018#2: Measure and manage procurement performance and business valueIn 2018, 76% of organizations ranked measuring and managing procurement performanceand business value as high/critical in importance, but only a little more than half (56%)believe they have the ability to address the challenge.As procurement organizations mature, they start looking beyond traditional areas oftactical supply assurance and price (Fig. 6). In parallel, procurement spends moretime on strategic business enablement, an area that requires more coordination andcollaboration with internal stakeholders and suppliers based on criteria outside ofnegotiated cost alone. Increasingly, service delivery requires advanced business skillssuch as negotiation, relationship management, problem-solving and strategic thinking.Moving into these areas, procurement serves as more than a buyer/negotiator; itbecomes a consultant and change agent.FIG. 6 Procurement value pyramidVALUE PROPOSITIONROLE AND BRANDBusiness strategy, change management,leadership, innovation, discontinuousimprovementIncrease business valueTrusted business advisorderived from spend Value and change agentmgmt.ValueReduce demand activity,complexity and variabilityShift from lowest price tototal cost of ownershipRight goods and servicesand at the right priceRight goods/servicesat the right time and placeDemandmanagementSpend/budget consultantand relationship managerTotal cost of ownershipPriceSupply assuranceCAPABILITIESSupply expert (SCM,SPM, etc.), team leader,project managerCRM; business planning & analysis,demand/specification influence,continuous improvementTCO management; market intelligence,SRM, project management; SCMNegotiations, sourcing execution,basic spend analysis, cost modeling,supplier/market analysisNegotiatorBuyer/plannerPurchase-to-pay, e-procurement. supplyplanning, basic supply risk managementand contract lawSource: The Hackett Group 2018 The Hackett Group, Inc.; All Rights Reserved. CR 6000205Procurement Executive Insight I The Hackett Group I 5
According to the study, 81% of procurement organizations still get most of their harddollar recognition for purchase-price reduction success. However, none of the surveyrespondents obtain hard-dollar recognition for avoiding profit impacts (e.g., from avoidedregulatory costs, re-sourcing costs, etc.); only 34% get soft-dollar recognition. Toincorporate digital transformation into procurement’s value elevation, the function mustcontinually look for business value-contribution opportunities beyond price reduction.These include protecting revenue and brand integrity, and supply risk management.0%No studyrespondentsget hard-dollarrecognition foravoiding potentialprofit impacts.#3 Obtain more value from existing suppliers through supplier relationshipmanagementStrategic partnership with the business requires taking on more responsibility for supplierrelationship management (SRM) initiatives. Today 74% of respondents acknowledge theimportance of obtaining more value from existing suppliers through SRM, but 51% haveonly a low or moderate ability to meet this objective.SRM is not a new investment area for procurement. The Key Issues Study resultsdocument a high level of interest in moving SRM activities (along with supplieronboarding, performance management and more) to a Center of Excellence (COE) orsimilar leveraged model (Fig. 7), possibly to make better use of these relatively scareskills. The implication is increased interest in linking supplier-centric processes to widersource-to-pay efforts and strengthening the acuity of supply market intelligence.FIG. 7 Supplier-based strategic activities in a Center of Excellence or similar leveraged modelTop four activities currently being evaluated or pilotedSupplier performance and/orrelationship management26%33%Supply market intelligence26%33%Supplier support and helpdesk(e.g., onboarding transition)19%28%Supply %7%24%19%CURRENTLY IN PLACE5%EXPANDING USESource: Key Issues Study, The Hackett Group, 2018Organizations are also planning or piloting collaborative customer/supplier activitiesthrough their supplier innovation efforts. Increased competition has made today’ssuppliers more willing to invest in technologies and share ideas with customers withwhom they have positive, collaborative relationships. Supporting supplier innovationpromotes increased coordination between buyers and suppliers, strengtheningpartnerships and increasing motivation on both sides to invest further in the relationship.Thirty-five percent of respondents are evaluating the use of a supplier network in 2018as a means of improving communication, collaboration, supplier profile maintenance,transaction processing and supplier catalog management. 2018 The Hackett Group, Inc.; All Rights Reserved. CR 6000205Procurement Executive Insight I The Hackett Group I 6
#4 Obtain more value from existing categories through category managementBy understanding spend categories better, procurement can pursue sourcing initiativesin ways that go beyond one-time events. Improving category management helps themmanage the entire lifecycle in the value chain of goods and services. Eighty-threepercent of Key Issues Study respondents consider obtaining more value from existingcategories through category management to be of high/critical importance, but only56% currently have the ability to meet this objective. Moreover, 25% also consider ascritically important the deepening of procurement’s influence on complex indirect spendcategories, to drive value beyond sourcing. And, 44% are evaluating or piloting migrationof analytics to a Center of Excellence for category management. Doing so will helpprocurement organizations centralize the evaluation of contract and supplier lifecyclesand holistically manage specific groupings of materials or services that have similarsupply and usage characteristics.Even if major spend categories are properly sourced and the supplier base is rationalized,procurement must still find further ways to help the enterprise tap suppliers for morevalue. Using a category strategy execution framework can help organizations apply theappropriate value drivers, techniques and tools to meet the value objectives in otherareas including strategic sourcing, SRM, value engineering, process reengineering,demand management, and compliance management. Using a framework like theone shown in Fig. 8, procurement organizations can more clearly define and buildorganization-wide alignment on category definitions and strategies.FIG. 8 Ongoing category strategy executionCompanymission and visionCategory analysis toolsStakeholder/businessrequirementsSupply marketcapabilities Spend profile Demand profile Total cost model SWOT analysis Supply profile Risk assessment Market analysis Porter’s Five Forces Business impactCategory strategyScopeOpportunitiesGovernanceValue optimizationAnalytics and reporting Ongoing cate
Expanding Procurement’s Influence Through Change and Innovation The CPO Agenda in 2018: 23% 14% 25% . Expand procurement’s scope/influence Elevate the role of procurement to a trusted advisor to the business Improve procurement’s business agility (i.e., the ability to adapt quickly to meet .
May 02, 2018 · D. Program Evaluation ͟The organization has provided a description of the framework for how each program will be evaluated. The framework should include all the elements below: ͟The evaluation methods are cost-effective for the organization ͟Quantitative and qualitative data is being collected (at Basics tier, data collection must have begun)
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