In an eye-opening survey by PwC, global procurement professionals have spoken when it comes to their digital transformation initiatives. By 2025, procurement departments have an average target of 72% digitalisation, with efficiency, transparency, traceability, and cost savings as some of their main drivers. Procure-to-Pay (P2P) has also benefited the most from the digital transformation of any procurement process, ahead of areas like spend analysis and supplier management. This may be because recent reports cite that digital procurement can reduce processing costs by up to 50% and increase efficiency by 60%.
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