Digital Transformation Procurement

What is Digital Transformation?

Digital transformation is the change associated with the application of digital technology into all aspects of business and organisational activities and processes, but also in the way human society is evolving.

It refers to a technology-centric ecosystem that involves information technology professionals, vendors, integrators and consultants. In this cycle, everybody should embrace change and change management.

Who should embrace Digital Transformation?

Very often executives become negative or even fearful when the term "digital transformation" is mentioned. The main factors driving further anxiety around this topic are the budget-busting and risk taking.

But as T.S Elliot teaches us: "Only those who will risk going too far can possibly find out how far it is possible to go."

Digital transformation should be adopted by companies who want to:

Emerge technologies with business strategy
Stay ahead of the competition
Automate processes
Increase operational efficiency
Save money and upsurge profits

According to MIT Centre for Digital Business, "Companies that have embraced digital transformation are 26% more profitable than their average industry competitors and enjoy 12% higher market valuation.

What is driving Digital Transformation?

With DT being one of the most talked about topics in many organisations, there is one industry sector which suffered a massive change based on digitising and automating selling processes and that is the retail sector. The main factors that drive on-going development in this area are:

Customer experience
Operational agility
Culture and leadership
Workforce enablement
Opportunities and challenges
Digitisation

How Digital Transformation is perceived

DT (digital transformation) is often perceived as an all or nothing option. Decision makers often think that digitising and automating processes to increase efficiency also brings a massive upheaval, substantial risk, completely retraining staff as well as the long-time frames and consultancy or implementation costs.

But it doesn't have to be like that. Platforms like Progora and KnowledgeKube are proof of software platforms that bust the myths regarding the risks of digital transformation. By putting these two powerful platforms together, you can create your own business marketplace for all your users and suppliers across products and services faster and quicker than any other platform on the market.

Progora is the e-procurement platform that enables you to create your own business marketplace for buying all products and services.

Users get a consumer shopping-like experience, and procurement gets innovative technology and analytics that help lower expenditure, reduce rogue procurement, strengthen supplier relationship and improve collaboration.

KnowledgeKube is an award-winning application development platform. Without having to write code, you can produce enterprise web and mobile apps faster and cheaper than using traditional development methods.

Undeniably, it’s the fastest way for business users and IT professionals alike to create, test and deploy applications that run across multiple devices. Not only that, KnowledgeKube is the extensibility platform of choice when rapidly expanding solutions based on other platforms.

How can KnowledgeKube and Progora help you drive your business forward

Research shows "Nine out of ten IT decision-makers claim legacy systems are preventing them from harnessing the digital technologies they need to grow and become more efficient."

By using KnowledgeKube and Progora together, vendors can easily add new categories and frameworks as well as functionality like guided experiences and purchase-to-pay workflows. But the true power of these platforms is their ease of integration with legacy procurement systems, finance, and purchase-to-pay systems.

You can modularise the change process, improving and digitising each process one at a time by integrating with legacy systems. This way, businesses avoid duplication - keeping the business running whilst working in parallel on the digital change.

Quick proof of concept and iterations also enable the business to be more involved in the build process, testing and improving in a truly agile manner.

So, we encourage you to take a closer look at these platforms to see how they could positively impact your business by offering a high-fidelity user experience, ensuring total user adoption, combined with the ability to digitise manual and complex supply chain scenarios to help to increase user productivity.

Find out more about Progora and KnowledgeKube

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ICAEW Best Practice Best Value Digital Transformation

DIGITAL TRANSFORMATION