The secret to the success of better practice procurement teams

In our 2024 Annual Procurement study, Stronger Together, we looked at what makes the difference between a highly mature procurement function and those who are less mature.

So what exactly is the secret to a successful better practice procurement team?  There is one thing that really stood out – the ability to deeply understand and build strong relationships with the business areas they support. We have been seeing more and more evidence that it is the soft skills rather than the technical skills that count in modern day procurement functions.

Our research found seven in ten Australian procurement functions have progressed their maturity level to a point where they are no longer a task-taker but are instead actively adding value to the business stakeholders they service. This means they are more likely to achieve higher savings, better customer experience, better supplier relationships and a higher alignment with business goals than their counterparts.

What does it take to level-up your procurement maturity? Download Stronger Together, The secret to the success of better practice procurement teams

If you have any questions about this research or how to become a successful better practice procurement team, book a meeting with Dr Stefan Gassner.