PwC Global Digital Procurement Survey 2024

The top priority for procurement departments is cost control, especially in the current global context where costs tend to increase from all directions.

Similar to last year, cost control remains the key focus of the procurement function, even though we see new questions arise (GenAI). One of the main objectives for companies is to ensure better cost control via Procure-to-Pay (P2P) or Source-to-Contract (S2C) solutions, which are now a must with an adoption rate above 90% amongst the respondents of the survey.

Digital transformation is the second strategic priority. Companies are focussing on strengthening their performance with Source-to-Pay solutions.

• For the first time in four years, digital transformation of the procurement department is named as a strategic priority by more than 50% of the respondents to our survey.
• Organisations expect to reach a procurement process digitalisation rate of 69% by 2027, while it is currently at 43% end of 2023.
• In 2024, projected investment amounts have sharply increased for SMEs (€575k, + 55%) while they have decreased for larger organisations (€1.75M, -7%) compared with 2022 figures.

CSR has climbed the rankings in comparison with previous years, and is now one of the top 3 priorities for CPOs.

CSR is now on the procurement roadmap, with concrete objectives such as CO2 emissions monitoring, supply chain traceability and data transparency. Organisations are seeking to monitor their impact on the environment, and to take the adequate measures to minimise it.

The priority needs to be given to increasing the maturity of environment risk monitoring, with a level of maturity depending on the company size (larger companies having a larger level of maturity than small companies).