Procurement's role is evolving, driven by complexities like geopolitical conflicts, regulatory changes, and technological advances. A recent webinar hosted by Ardent Partners explored strategies to enhance procurement's influence and impact, with insights from experts Magnus Bergfors (VP of Research, Ardent Partners), Patrick Foelck (Head of Insights & Enablement Procurement, Roche), and Sudhir Bhojwani (CEO and Co-founder, ORO Labs). Here's a summary of the key takeaways.
Moderator Andrew Bartolini opens the webinar with a simple truth: "The best way for procurement to engage and stay engaged is by delivering a wonderful customer experience." Procurement often struggles with user-friendly processes, leading to frustration for employees and stakeholders. As Sudhir Bhojwani explains, “Why is procurement so hard to work with?” remains a question across industries. He describes procurement as a “zigzag” process involving multiple stakeholders, systems, and compliance needs, which often overwhelms users and undermines efficiency.
Orchestration emerges as a pivotal theme in this webinar. Bhojwani highlights how orchestration, rather than simple integration, addresses procurement’s complexity. “Orchestration is the process that guides users through an end-to-end workflow, connecting systems, stakeholders, and data,” he explains. By serving as a bridge between fragmented systems, orchestration layers like ORO Labs' solutions streamline tasks, foster collaboration, and improve compliance.
Patrick Foelck of Roche also emphasizes the importance of focusing on user experience. “If you create processes and technologies that delight the end user, you achieve significant adoption,” he noted. Roche’s procurement strategy involved orchestrating across multiple tools, creating a seamless experience and driving efficiency. "Orchestration," Foelck says, "is the missing glue that makes procurement technology accessible and effective."
Magnus Bergfors stresses the importance of agility to navigate rapid changes. “You can't set up a system and expect it to work for the next ten years,” he cautions. Low-code and no-code solutions empower procurement teams to adapt processes without extensive IT dependencies. The flexibility to adjust workflows in response to new regulations or market needs is essential for maintaining relevance.
Data orchestration complements process orchestration by offering actionable insights. “Bringing your data together enables smarter decisions,” Bhojwani explains. For instance, better data categorization can improve invoice approvals, reduce errors, and support informed procurement strategies.
Ultimately, the webinar underscores that procurement's transformation hinges on aligning technology, processes, and user-centric strategies. As Foelck concludes, “Procurement can only succeed if its strategies align with execution through technology.”
This forward-thinking approach positions procurement not just as a cost-saving function but as a strategic enabler driving organizational value.