How CPOs can break free from the status quo
By Costas Xyloyiannis, CEO of HICX
In recent years, ESG was hoisted to the top of the board agenda. Compliance and readiness across multiple areas had to be captured, analysed and reported – a job which leaders looked to delegate.
Finding a department that was clearly responsible for suppliers across the business was tricky. So, management turned to the next best option: procurement.
To meet their mandates, chief procurement officers (CPOs) had to quickly apply technology. They implemented ‘point’ solutions that could address new use cases and kept established P2P and S2P suites with which to keep managing sourcing and spend.
Before long, it emerged that specialist solutions don’t always integrate with suites. Today teams have the slow and painful experience of swapping between the two.