đźš— Digitalization in a Ferrari and Procurement
Apart from the speed, there are certainly similarities, aren’t there? I think so, as Procurement in 2025 must still learn a lesson from a 2024 Ferrari announcement:
⚠️ In 2024, Ferrari put a hard stop on developing its infotainment software. Ferrari realized it couldn’t keep up with Apple and Google and would not further develop its own navigation and infotainment system. Apple CarPlay and Android Auto offer better UX, and smartphone apps are always up to date.
What does it mean for Procurement?
⚡Building your digital solutions makes little or no sense: But why are there still Procurement Managers & IT Departments who believe they have to develop and code Digital Procurement solutions, despite there now being hundreds of systems for almost every challenge in Procurement?
⚡It is 2025: Why are there Procurement Managers who still firmly claim that many digital solutions, especially eProcurement platforms, are “not yet ready to handle their challenges”?
A few thoughts after 24 years in the Digital Procurement space:
đź“ŚWe can draw from dozens of proven solutions, quickly delivering progress with mature solutions – used by your competitors. This applies to all industries, company sizes, and budgets. There is no reason to do nothing!
đź“ŚAfter bumpy years (the early 2000s) where the number of functions took precedence over UI/UX and user experience, we now have (mostly) user-friendly, intuitive interfaces that focus on people rather than the system, and providers have learned and copied much from successful consumer platforms (e.g., Amazon)
📌Digitalization comprehensively expands the Procurement toolbox (“value levers”) and the skills of your Teams (connect human and digital skills to increase effectiveness and results)
đź“ŚAPIs are also manageable (time, costs, complexity)
đź“ŚPlug & Play in the context of Procurement hubs is the future of system landscapes in Procurement. Many solution providers complement each other perfectly and collaborate (e.g., Risk and Sustainability and Compliance Management)
⚠️It is simple: If you are a Procurement Leader with no digital ambitions or initiatives, you may also jeopardize the company’s digitalization efforts. When running an extensive network of business partners and supply chains, Procurement either promotes or inhibits a company-wide digitalization approach.
Choose your role wisely!
⚠️By the way: Procurement digitalization is also crucial for talent attraction and retention. Excel, pens, discouragement & hesitation..NOT!
Digitalization in Procurement in less than 12 months? We at targetP evolving procurement are happy to share insights and learnings from more than 30+ digital projects in Procurement. From digital strategy & architecture to solution selection and implementation.
Source Graphic. P. Raasch
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