RE-IMAGINING S2P IN THE ERA OF AUTONOMOUS PROCUREMENT
NITION
measured by its impact on business performance. When stakeholders can see how S2P initiatives directly contribute to organisational objectives, engagement and adoption naturally accelerate. The transformation undertaken affects functions across the business in different ways and understanding this is essential to defining success metrics. A comprehensive measurement framework addresses what matters most to each stakeholder group while staying in touch with overarching business objectives. Margin improvement stands as one of the more compelling metrics, as it connects directly to profitability. Unsurprisingly, artificial intelligence is increasingly coming into play here, and those harnessing the AI capabilities found in some S2P platforms are seeing impressive growth in their margins. Shaun Carroll, Group Director of MSS and Chief Procurement Officer at Mitie,
“ The margin multiplier makes a massive difference. We’ ve taken cost out across the procurement team, the accounts payable team and the supplier base”
SHAUN CARROLL, GROUP DIRECTOR OF MSS AND CHIEF PROCUREMENT OFFICER, MITIE
said:“ The margin multiplier makes a massive difference. Every single pound we take out hits our bottom line. We’ ve taken cost out across the procurement team, the accounts payable team and the supplier base.” The Hackett Group has found that firms investing in AI are expanding margins and driving durable growth,
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