SIG and Globality, the world’s only AI-powered Marketplace and Platform for B2B services, partnered to produce a study looking into why B2B services remains one of the greatest untapped opportunities to drive business value
Almost 70% of Globality and SIG survey respondents indicate that they are either proceeding as planned or are now accelerating their digitization initiatives.
However, bridging the gap between intent, action, and a positive outcome has never been an easy endeavor. In fact, and as pointed out in her latest book, Trade wars, pandemics, and chaos: How digital procurement enables business success in a disordered world, Dr. Elouise Epstein talks about how people are coming clean about the challenges with their existing or historical tech. In other words, organizations need more than just a desire to digitally transform the enterprise if they hope to avoid the same pitfalls that have undermined initiatives in the past.
The purpose of this article is to leverage the insights gained from the Globality and SIG survey to create a clear and more certain path to digital transformation success.
According to most survey respondents, there are several priorities when it comes to digitization in critical areas. These top priority areas include the rapid identification, selection, and engagement of suppliers, the ability to react with speed to market dynamics, and the capability to drive revenue through innovation.
While varying degrees of organizational maturity regarding procurement processes may result in some differences in the priority of identified objectives, there is generally no argument that the benefits of a progressive digital strategy are clear.