Data talks! Inspire future ideas backed by data.
Where will CPOs focus their limited time and investments after overcoming and adjusting to the disruptions from 2020? And, more importantly, how should CPOs most effectively allocate their energy and resources in 2021? WNS and ProcureCon sought to answer these questions through the Procurement Pulse Check for 2021 benchmark survey. We assessed the current state of Procurement and strategic priorities for the coming year.
Our goal was to provide procurement leaders with the data points to enter this year with confidence and purpose, amidst the noise and confusion. In this paper, we examine themes from the data and share insights on CPO’s priorities and investments. During the winter of 2020, more than 100 procurement executives from around the world shared their perspectives on the current state of priorities in their organization today and in the future
What did we find?
The study data has also confirmed what we have seen in the industry in recent years: CPOs have many competing priorities. We take a close look at data around the top investments planned for 2021, including:
Strategic Business Alignment
Talent Management
Operating Model
Digital and Innovation
Business Value
In this paper, we examine three broad themes that were undeniable:
Procurement needs to align better with core business objectives and the needs of all stakeholders
Procurement has increased potential for creating business value and making an impact
Digital transformation has accelerated rapidly due to the pressures placed on organizations to build fully virtual workforces
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FAQs
The top procurement priorities center on a fundamental shift from simple cost-cutting to enterprise resilience and agility. CPOs are increasingly focusing on securing supply chains against global volatility, driving digital adoption to enhance visibility, and spearheading ESG (Environmental, Social, and Governance) initiatives. Additionally, talent development and the integration of advanced analytics have become critical priorities to ensure that procurement can provide the strategic foresight needed to navigate a complex post-pandemic economic landscape.
To achieve strategic business alignment, procurement teams must move beyond transactional silos and act as consultative partners to internal business units. This involves engaging with stakeholders early in the planning cycle to understand departmental goals and tailoring sourcing strategies to support those specific needs—whether it’s speed-to-market, innovation, or risk mitigation. By speaking the language of the business and mapping procurement KPIs directly to corporate growth targets, teams ensure that every sourcing decision adds measurable strategic value.
Digital transformation in procurement is essential because it provides the data-driven foundation required for real-time decision-making and operational efficiency. In a world of fragmented global supply chains, manual processes are no longer scalable or capable of mitigating rapid risks. Modernizing the tech stack allows for "touchless" transactions, predictive spend analytics, and automated compliance monitoring. This shift allows procurement professionals to spend less time on administrative execution and more time on high-value strategic initiatives.
Organizations looking to boost procurement performance should invest heavily in three key areas: advanced analytics, supplier relationship management (SRM), and category-specific expertise. Analytics provide the visibility needed to uncover hidden savings and risks, while robust SRM frameworks foster the collaboration required for supplier-enabled innovation. Furthermore, investing in deep category knowledge ensures that procurement can navigate specialized market dynamics, ensuring that the organization remains competitive even during inflationary periods or supply shortages.
CPOs can maximize value by transitioning to a procurement operating model that is agile, insights-led, and persona-centric. This often involves a "Center of Excellence" (CoE) approach where strategic category planning is centralized and supported by high-fidelity data, while operational tasks are handled through automated hubs or shared services. By clearly segmenting roles and utilizing a technology-agnostic orchestration layer, CPOs ensure that their organization can rapidly scale, reduce cycle times, and deliver a seamless experience to both internal stakeholders and external partners.
WNS Procurement helps CPOs through a specialized "Future-Ready" assessment that evaluates the current maturity of their
Key Points
- The current state of priorities in their organization today and in the future
- Critical investment areas for the year ahead
- Perspectives on how to rank the TOP priorities for 2021
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