What is your organization’s digital readiness and what it means to your future employment

Posted on November 12, 2019

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Do you, as a procurement professional, still use spreadsheets to do your job.

As an expert panelist in an upcoming webinar on digital transformation and the alternatives to spreadsheets and email, your answer to the above question will have a significant impact on your future.

Unfortunately, very few procurement pros can provide a definitive answer. In short, they do not know the “digital readiness” of their organization, and as a result, continue to do the same things that they have always done unaware that change could be right around the corner.

Change is coming, and you need to know when it will happen and how you will fit into the scheme of things.

Here are four key questions to ask your boss to ensure that your “digital readiness” is in alignment with that of your organization.

Performance Measurement

If, when you were first hired, you properly interviewed your boss, you should already have a clear understanding of current expectations.

However, you should be an active participant in establishing any new performance metrics – especially if your company is on the verge of going digital.

During one of the first CPO Roundtable discussions, senior executives from major global companies got together in the UK. One of the most notable (and unanimous) comments that came out of that powerhouse exchange is that “one strategic procurement professional is worth ten of the every day run-of-the-mill buyers.”

What the executives were saying is that they place a high value on professionals who can make a strategic contribution beyond merely buying at the lowest price.

When it comes to your organization’s digital strategy, are you a strategic contributor or a spectator waiting on the sidelines for something to happen. I do not think that I need to tell you which of these two positions are best for your future.

How “Strategic” Is Your Company?

During a recent webinar on the digital transformation of the supply chain, an attendee asked the following question; what do you do if your company isn’t actively pursuing a digital strategy?

Surprisingly, and from my perspective, the question has as much to do with leadership’s attitude as it does with technology.

To start, a stagnate company will fail to attract the best and the brightest to your organization – that in itself is a big problem.

However, the absence of a progressive digital strategy likely means that their view of your role is more “traditional,” i.e., did you get the best deal from the vendor. Unless your interest is collecting a paycheck while watching a screen saver of “the days to your retirement” clock tick, you may want to consider making a move.

A “YOU” Investment

You reap what you sow. You get back what you put in.

These, as well as other similar sayings, effectively illustrate the point that you have to invest in something before you can expect to get a return.   

As logical a concept as it is, when it comes to investing in developing their procurement talent, most organizations are falling short.

SOURCE: Procurement Academy

Take the above graphic as an example.

Even though 62 percent of CPOs believe that their team lacks the necessary skills to deliver on their procurement strategy – digital or otherwise, the investment in talent development is decreasing.

Instead of only asking what you can do for your company, ask what your company can do for you!

Asking Forgiveness, Not Permission

Like Oliver Twist saying, “please, sir, I want some more,” procurement professionals have to stop asking for a seat at the table and “just sit down.”

In the emerging digital world, job descriptions are changing. For example, did you know that CMOs will spend more money on IT than CIOs! The functional silos of the past are dissolving into a brave new world where anyone can take the lead.

Given that a recent study indicates that 70 percent of all digital transformation initiatives will be “delivered” through the supply chain, who do you think is in the best position to be at the helm?

Instead of waiting for your organization to tell you about their digital strategy (at which point it may be too late), take the initiative to start the digital discussion. Then and only then will you ensure your digital readiness and value.

REMEMBER to join me on Wednesday, November 13th where I will be moderating a webinar on The Real Obstacle to Digital Transformation: Finding an alternative to spreadsheets and email.

Use the following link to register: https://www.marketdojo.com/webinar-obstacle-digital-transformation/

Posted in: webinars