August 2003 Case Reference
By August 2003, a full production program was introduced and successfully tested. (In the test case, a major public sector organization realized a 23% cost of goods savings annually over a period of several years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23. Delivery performance and product quality also improved dramatically.)
September 2023 Case Reference
Fairmarkit is an autonomous sourcing platform that transforms tail spend with automation and AI. Procurement teams use Fairmarkit to manage 10x the events per FTE and uncover $40k savings per buyer per week, using Fairmarkit’s AI-powered supplier recommendations.
Questions
What are the differences between the 2003 and 2023 case references?
What are the common denominators?
How can you scale digital adoption and transformation success?
Why are the answers to the above three questions critical to digital transformation and AI Success?
May 2007 – The high (and continuing) rate of e-procurement initiative failures – studies indicate that 75 to 85% of all initiatives exceed budgetary expectations but fall far short of projected savings.
December 2019 – Deloitte’s global survey reports that most CPOs are not satisfied with the results of their digital transformation initiatives.
September 2023 – An August 2022 Supply Chain Dive article reports the following regarding overall user adoption statistics:
“Six in 10 IT leaders are concerned end users are not adopting new tech quickly enough, endangering the return on investment for digital projects, according to an annual digital adoption report by WalkMe. “
Conclusion
Technologies evolve, strategic focus shifts, and policies change – success principles and core models are constant.
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Procurement Insights
What is the difference between the 2003 and 2023 “digital” outcomes?
Posted on September 30, 2023
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August 2003 Case Reference
By August 2003, a full production program was introduced and successfully tested. (In the test case, a major public sector organization realized a 23% cost of goods savings annually over a period of several years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23. Delivery performance and product quality also improved dramatically.)
September 2023 Case Reference
Fairmarkit is an autonomous sourcing platform that transforms tail spend with automation and AI. Procurement teams use Fairmarkit to manage 10x the events per FTE and uncover $40k savings per buyer per week, using Fairmarkit’s AI-powered supplier recommendations.
Questions
What are the differences between the 2003 and 2023 case references?
What are the common denominators?
How can you scale digital adoption and transformation success?
Why are the answers to the above three questions critical to digital transformation and AI Success?
May 2007 – The high (and continuing) rate of e-procurement initiative failures – studies indicate that 75 to 85% of all initiatives exceed budgetary expectations but fall far short of projected savings.
December 2019 – Deloitte’s global survey reports that most CPOs are not satisfied with the results of their digital transformation initiatives.
September 2023 – An August 2022 Supply Chain Dive article reports the following regarding overall user adoption statistics:
“Six in 10 IT leaders are concerned end users are not adopting new tech quickly enough, endangering the return on investment for digital projects, according to an annual digital adoption report by WalkMe. “
Conclusion
Technologies evolve, strategic focus shifts, and policies change – success principles and core models are constant.
30
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