TECH BUYER Apr 2019 - Web Conference Proceeding: Tech Buyer - Doc # US45003319

Sourcing and Vendor Management — A Critical Component of Digital Strategy

By: Chris MurphyProgram Vice President, Sourcing Advisory Services, Aaron PolikaitisVice President of Research, Vendor Sourcing and Management

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Abstract

This IDC Web Conference identifies the top challenges identified by procurement, IT, and line-of-business (LOB) executives and discusses strategies for transforming procurement organizations from tactical administrative centers to strategic sourcing partners for the enterprise.

CIOs, CPOs, and business unit leaders overwhelmingly agree that technology sourcing and procurement is critical for digital transformation and legacy system modernization. Nevertheless, recent IDC research confirms that technology sourcing and procurement organizations are challenged to deliver what their businesses require.

IT and line-of-business executives report of their procurement organizations that:

  • 54% do not understand business needs.
  • 62% are undermined by shadow procurement.
  • Only 10% work effectively within cross-functional teams.

Procurement organizations have a choice of transforming themselves or watching other enterprise organizations assume the responsibility for sourcing the technology that supports key business initiatives.


Coverage

Subscriptions Covered

CIO and Technology Professionals Agenda , IDC Energy Insights: Global Technology Advantage Program , IDC Energy Insights: Industry Technology Advantage Program , IDC Financial Insights: Global Technology Advantage Program , IDC Financial Insights: Industry Technology Advantage Program , IDC Government Insights: Global Technology Advantage Program , IDC Government Insights: Global Technology Advantage Program (GSA Only) , IDC Government Insights: Industry Technology Advantage Program , IDC Government Insights: Industry Technology Advantage Program (GSA Only) , IDC Health Insights: Global Technology Advantage Program , IDC Health Insights: Industry Technology Advantage Program , IDC Manufacturing Insights: Global Technology Advantage Program , IDC Manufacturing Insights: Industry Technology Advantage Program , IDC Retail Insights: Global Technology Advantage Program , IDC Retail Insights: Industry Technology Advantage Program , Sourcing Advisory Service (SAS): Database , Sourcing Advisory Service (SAS): Entry Package , Sourcing Advisory Service (SAS): Standard Package , Sourcing Advisory Service (SAS): Unlimited Package , Sourcing and Vendor Management: Entry Package , Sourcing and Vendor Management: Standard Package , Sourcing and Vendor Management: Unlimited Package


Regions Covered

Worldwide


Topics Covered

Digital transformation, Procurement, Technology buyer, Vendor and sourcing management, WorkSource transformation


Content


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