What Companies And Industries Need To Know About How The Procurement Process Is Changing

The old-world model for procurement was designed to lower costs.

Stalder’s firm provides third-party source-to-pay services for companies worldwide. It took on IBM, Accenture, and the other behemoths in the space and is steadily taking market share from them. In the new world, we are now at a critical turning point in the source-to-pay function because of the complexities and because the capabilities and needs change constantly. Companies need functions that are built for change rather than stability. Only a platform operations model will allow companies to deal with the velocity of change in the modernization of the procurement process.

Therefore, companies need to imagine a world in which people with sophisticated knowledge and a sophisticated tech stack are designed collaboratively to operate in a constantly changing world and change themselves and do so at scale. Within procurement, that means getting the right pricing for ethically sourced products in the world delivered on time and in full.

The new model manages the tech stack and the talent together as one entity, not two entities. OKRs get much stronger. And the company ends up getting better business results at a lower cost to serve. It may end up paying more for some of the platform’s component parts, but the overall model works better., including rethinking the talent along with the technologies.

· The new model will require a deeper relationship and collaboration among the customer and provider organization. What does that more intimate relationship look like?

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