Pulse of Procurement 2022: Unlocking Growth Amidst Uncertainty

Pulse of Procuremenet 2022 - Zycus

The annual Pulse of Procurement report for 2022 is here! Each year since 2011, we have been interacting with procurement professionals across the globe to:

  • Ascertain their current objectives and concerns & benchmark how procurement teams are driving value creation.
  • Document procurement's technology-enablement landscape
  • Get a glimpse of how procurement professionals see their futures unfolding

As we enter the 3rd year of the pandemic, Covid-19 waves are still popping up intermittently across the globe, Europe grapples with geopolitical instability owing to conflict between Russia and Ukraine and procurement teams the world over continue to tackle supply and resource disruptions. At the same time, procurement teams have been given the responsibility of ‘Unlocking Growth Amidst Uncertainty.’

Download the Pulse of Procurement 2022 to find out how procurement plans to unlock growth for the enterprise.

Here are some of the key highlights from this year’s report:

  • About 86% of C-Suite leaders believe that procurement has played an influential role in organizational recovery post-Covid-19. But 81% felt that procurement would have to reimagine operations to continue supporting the rebound.
  • While cybersecurity concerns and risks are stable at high levels, other risks such as supply chain disruptions, access to critical skills, labor capacity, and commodity price volatility have come up as major risk sources for enterprises in 2022.
  • Procurement’s priorities have broadened to include the sustainability agenda, and 77% of procurement leaders are actively looking to increase spending on sustainability initiatives over the next three years.
  • The focus is on making procurement data-driven, predictive, automated, and proactive; 74% of the respondents in a survey stated that they will be equipped with AI led technology solutions within 12 months.
Get The Report!