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PwC Digital Procurement Survey 2020-2021

Digitalisation is one of the top priorities for strategic procurement

Against the backdrop of the coronavirus crisis, cost reduction and supplier sourcing are currently of high strategic relevance for purchasing departments throughout Luxembourg and the rest of Europe. However, digitalising procurement processes is also a key task. Companies are particularly focusing on digitalising their procure-to-pay processes, which are already widely used in Luxembourg.

 

 

Key takeaways

Digital transformation remains a major challenge, although the current context is prompting purchasing departments to refocus on their core operations

  • Process digitisation remains the third strategic priority, and is regarded as a driver of agility and resilience.
  • Cost reduction and supplier sourcing are the top two priorities. They enable companies to meet their objectives of securing external resources and improving financial performance, which have been particularly exacerbated by the health crisis.
  • The Covid-19 crisis has led to a change in strategy by purchasing departments: more than 60% of them have reconsidered their priorities in response to the crisis. Cost reduction and risk management were favoured in the short term while, in the medium term, process digitisation and supplier sourcing were reprioritised in order to prepare for the future.

The digital transformation of procurement processes has been steadily progressing over the years, while continuing to be supported by substantial investment

The level of increase in digitisation has exceeded 2017 targets, demonstrating purchasing departments’ commitment to digital transformation projects, as well as the growing role of digital technology in the purchasing function. This trend is set to intensify over the next two years, thanks to significant investment by companies of all sizes.

Making optimum use of digital solutions generates significant performance gains within purchasing organisations

On average, 79% of purchasing departments say that they have seen improvements in business performance and organisational benefits as a result of deploying a digital solution. This is especially true in companies where the solution is strongly taken up by users and its features are used in full.

Digital Procurement Survey 2021

Contact us

Frédéric Chapelle

Technology Partner, PwC Luxembourg

Tel: +352 49 48 48 4185

Yoliana Marcela Bayona Camargo

Director, PwC Luxembourg

Tel: +352 49 48 48 4456

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