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Digital transformation sales for purchasing
Digital transformation sales for purchasing
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FAQs online signature
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What are the 3 P's of digital transformation?
Digital transformation consists of three main elements, collectively known as the 3Ps: people first, process second, and platform/technology third. Digital transformation rethinks how an organisation uses people, processes, and platforms/technologies in order to: Optimise customer and/or client experience.
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What is the role of digitalization in procurement?
Companies that opt for digitized procurement can gain a competitive edge through a stronger customer focus and the necessary agility to satisfy ever more rapidly changing customer requirements.
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What is a digital transformation strategy?
A digital transformation strategy is a detailed plan for using digital solutions to improve the physical aspects of your business across engineering, manufacturing, and service. Digital transformation (DX) is, in and of itself, a broad business strategy.
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How does digital transformation affect sales?
These include metrics such as revenue growth, cost savings, customer acquisition and retention rates, and operational efficiency improvements. Revenue growth occurs when implementing digital strategies expands the customer base and increases sales.
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What are digital sales strategies?
Digital sales strategies focus on the sales process, the target market, and general sales goals. Digital marketing, however, is a longer-term process that focuses more on identifying the needs of customers in general.
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What is the strategy of digital transformation in marketing?
Another popular digital transformation marketing strategy involves implementing tools such as live chat, chatbots, and AI-powered customer service solutions to provide real-time assistance and enhance customer satisfaction.
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What is a digital transformation strategy for sales?
Digital Transformation radically redefines sales strategies by integrating technology into every facet of the business process. Beyond merely adopting new tools, this revolution involves a fundamental shift in the business mindset.
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What is digital transformation in procurement?
Digital transformation in procurement aims to help enterprises embrace a new, more effective way of organizing their procurement activities by introducing mature digital tools and cutting-edge Procurement 4.0 technologies.
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Welcome viewers to our next episode of the PROCtalk Show sponsored by Chartered Buying and I'll be your host for today my name is Faiq. We were in Dubai in our previous event and today we have moved to London and why we are trying to do that is to make sure that we try to bring in global expertise, Best in Class procurement experts. I'm excited to be joined by a highly accomplished procurement expert who has worked in leading organizations and transformed many procurement functions through his Consulting experience Mr Rich Sains, he's a founder of ACADA which helps procurement leaders to solve many of the challenges they face in today's complex environment. There's a lot of pressure on going digital on doing the digital practices implementing them but how to start where to start what best practices to implement what are the steps to implement those and trust me, It's not just technology, it requires cultural technological and operational shift. so welcome rich and the floor is all yours. so the seven steps to successful digital transformation in procurement and we have a DIGITAL procurement roadmap that supports this and a couple of steps but NUMBER 1 is to find your strategy so think about the specific goals and objectives that you're looking to achieve through your digital transformation part of that is thinking about the measurable outcomes that you can achieve through this process so reduce cycle time better stakeholder experience what is it you're looking to achieve you need to at this stage also get access to the capital and resources that you need in order to conduct the transformation so there's obviously whatever your organization demands business case that type of thing STEP 2 assemble a great team so think about the skills you're going to require for that and who could bring those skills obviously there's some digital skills that would be involved and as we said there's lots of digital natives coming to the workplace so they're well placed to understand yeah that digital side of things process, people so people who can really map out all the processes that you've got the relationship Builders so people can help with the change management side of things and you really want to be making this team a cross-functional team so as part of that you want to be identifying the influences the advocates for procurement and maybe working with some difficult stakeholders if that's appropriate as well and maybe thinking around whether there's some suppliers that you could be involving in the process if this is a systems change that will touch suppliers because obviously there'll be key users and we don't want to make sure their views are left out at this point and STEP 3 - is to do a full process review so really look at all the different processes that you have within procurement and be quite ruthless in eliminating processes that no longer meet your needs looking if there's opportunities to automate or if there's opportunities to delegate which in the situation would might mean that a different team should be undertaking that process you want to be looking at all the different touch points trying to reduce the number of touch points where possible and really think about yeah those sort of people impacts and the data impacts as well and look at all the pain points and come up with a bit of a list there STEP 4 - identify technology so this involves The Scouting For technology looking at the market looking what's out there that could sort of support you in the different areas maybe looking for some quick wins as well if there's you know say if you're doing a lot of paper signatory then getting an electronic signatory maybe a quick win that you could Implement there STEP5 - five is the building your implementation plan so that's looking for you know there's some proof of values that you could be running to accelerate the process and to get some learnings very quickly ideally your implementation plan covers you over a number of years you don't really want it to be that you're doing a one-off process this should be sort of continuous involvement A continuing Evolution I guess a challenge to say at the same time you don't want to be trying to do too much in a short period of time so don't try to ball the ocean but don't go too slow either obviously you want to be making sure that we're getting value as quickly as possible and then the last part of that is to obviously start that implementation STEP 6 - I guess as part of the implementation is really making sure that we've got a good handle on change management potentially if we're doing proof of values or even if we're doing wider rollouts make sure we're piloting with friendly stakeholder areas or less friendly stakeholder areas if this is the sort of challenging areas where you could get more learnings quicker than you know if you're sort of brave enough then definitely go for that I think it's part of the change management we want to make sure that we're communicating right we need to communicate often need to be gathering feedback listening especially if it's a pilot process listen and learn for that wider rollout and then I guess a key part of change management as well is to make sure that we're communicating the objectives that we're looking to achieve and make it relevant to the teams that we're communicating to and STEP 7 - last step is that continuous Improvement piece so this isn't a one-time exercise this is something that we should be doing ideally on a continuous basis ongoing you know certainly making sure that if there's a system that we're swapping out we've got the ability to swap in and out with this SAS model so we should be taking that as much as possible and using your KPIs that you identified in step one as part of your strategy tracking against those you know is this still improving things is it still meeting the need that we identified originally tracking that and measuring against that and then yeah using that to identify opportunities for change on an ongoing basis so yeah those are the seven steps that that's very insightful and trust me I can relate to one of the most important points that you have highlighted is the change management when the implementation starts and that's where a lot of people a lot of stakeholders start to get nervous because you have people who have continuously worked with a technology you get accustomed to the processes and now there's an implementation of a latest system new module there are people experts and in the previous technology that was used in the organization so A change is something that a lot of people get nervous about so change management is something that has to be handled very carefully. I totally agree with your point and before even starting one of the points that you mentioned which is a third step is a full process review what we want to achieve is one part but where are we at this point of time what is the mature assessment a full process review will actually help where are we standing at this point of time and what is already in their system and what has to be improved what are the best practices that can guide on this front so thank you very much once again rage thank you to all our viewers who have looked forward to this episode on the technology on the digitization front and we hope you like the show and we're looking forward to bring many more best practices things that are happening globally at this point of time in procurement through the PROCtalk show thank you very much for joining once again we wish you all the best until then bye
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