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GEP Spend Category Outlook Report For 2022: The Industry’s Most Comprehensive Guide For Navigating An Uncertain World

Spend Category Outlook

Coming in at 130 pages, you might immediately think that this isn't a paper or a report; it's a book.

I know that was my first thought when I began reading the GEP Spend Category Outlook Report For 2022. Just as an aside, did you know that between 2011 and 2017, the average length of a bestselling book fell by 42%? Since then, and with the demand on our time becoming greater, I am sure that the length reduction has continued its downward trend.

By the way, a 2022 report indicates that the same downward trend applied to white papers, which, on average, are now 6 to 8 pages.

So, why am I with this latest paper talking about the number of pages versus the actual content – which is amazing?

My reason is that reviewing this report shouldn’t be a “read once and done” exercise.

The Ultimate Nightstand Guide

In today's Zettabyte digital reality, we are bombarded with content so much so that if you read a book or a paper, you are likely to gather what you can and then move on to the next resource – which is fair.

However, sometimes the information you receive is so on the mark that it is worth setting aside to a special place so that you can easily access its insights any day, every day. What I am talking about is a guidebook. And this latest GEP release is just that – it is a handy guidebook that you will want to keep at your fingertips to understand better the challenges you have or are facing today and the ones you will be facing tomorrow.

Having read it in its entirety, I can confidently say that it will help you get ahead of the curve of future challenging events before they unfold. Through the agility of its timely insights and the practical adaptability of its direction, you will quickly move from a reactive to a proactive position. It is the epitome of turning information into actionable knowledge.  

Mary Zampino, Vice President – Content, Research & Analytics

How AI Will Transform Procurement

procurement transformation with ai

Procurement is entering a new era of increasing complexities in which traditional measures of success such as cost savings are no longer the sole focus.

Instead, and as reported in the Deloitte 2021 CPO Survey, "changing business dynamics and increasing layers of complexity" and corresponding "expectations" are transforming the way the industry thinks and acts.

For example, new and more challenging areas such as "climate change, geopolitical stability," and "increasing societal expectations" are now part of the new equation.

The introduction of these emerging variables is causing organizations to re-examine their digital transformation strategies, including how Artificial Intelligence (AI) can help them address the industry's challenges.

The SIG Survey

In 2021 SIG surveyed 100 procurement professionals from Fortune 500 and Global 1000 organizations on digital transformation and AI in procurement.

Based on the results, it is clear that those responding to the survey believe that "procurement's priorities lie with how AI technology can streamline the roles and processes to deliver meaningful and sustainable results."

Unfortunately, and despite the opportunity for more significant gains, the survey reports that "several obstacles" make it difficult for organizations to "bridge the divide" between the promise of digital AI and the realization of its optimal benefits.

Crossing the Divide

Understanding the importance of AI and identifying the challenges with realizing its potential to redefine and empower procurement to achieve critical objectives is the first step to crossing the aforementioned divide.

Mary Zampino, Vice President – Content, Research & Analytics