What's Next for Procurement in 2020?

Corcentric's Source-to-Pay team offers reflections and predictions in new whitepaper.

CHERRY HILL, NJ, January 03, 2020 /24-7PressRelease/ -- As Procurement and Supply Management faces down an exciting new decade, Corcentric's Source-to-Pay experts are sharing their reflections and predictions for the road ahead.Procurement in 2020 sees the leaders in spend management comment on the last twelve months and offer their predictions for the trends and topics that will define Procurement in the new year and beyond. They welcome yet another opportunity to assess the global supply chain and publish insights on Procurement's most notable subjects.

"It's an exciting time to be a Procurement professional," says Joe Payne, Corcentric's Senior Vice President of Source-to-Pay. "With a digital revolution underway and our function enjoying a new level of strategic responsibility, the future is bright for forward-looking organizations and individuals."

This year, Corcentric's team pays particular attention to ethics and sustainability. Procurement, they contend, is perfectly equipped to take the lead in promoting responsible behavior and optimizing corporate reputations. "Consumers are losing their patience," says Payne, "they're fed up with organizations that won't take action on the issues they care about. For Procurement, the call for more ethical, responsible businesses presents a distinct opportunity. The function is perfectly equipped to introduce more sustainable practices, put them into place, and ensure they remain effective in the long term."

Other topics addressed throughout the whitepaper include Procurement's lingering talent gaps and the increasingly complex nature of the global supply chain. The challenges facing Procurement teams, Corcentric suggests, are constantly shifting, growing, and multiplying.  Offering insights from decades of successful client engagements, they encourage organizations to update their approach and emphasize resiliency and adaptability as the decade progresses.

The Source-to-Pay team's new publication brings an exciting year to an insightful close. Everyone at Corcentric looks forward to watching these trends evolve throughout 2020 and discussing them with like-minded professionals at events like the Institute for Supply Management's Annual Conference. For additional predictions, reflections, and observations, read Corcentric's thought leadership blog: The Strategic Sourceror.

Corcentric is a leading provider of source-to-pay and order-to-cash solutions for businesses in the United States and Europe. Corcentric's procurement, accounts payable, and accounts receivable solutions empower companies to spend smarter, optimize cash flow, and drive profitability. Since 1996, more than 6,000 customers from the middle market to the Fortune 1000 have used Corcentric to reduce costs and improve working capital. Learn more at corcentric.com.

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