2023 Trends for the Procurement Solutions and Services Marketplace

With the New Year come new trends and, in this article, we would like to share with you a few of the most relevant tendencies that will be affecting how organisations will prioritise their budgets over services and solutions this year, the reasons for it and the positive impact that implementing them can have on your organisation.

Supply Chains

According to the Tradeshift Index of Global Trade Health, the supply chain tendencies for the new year are not looking very optimistic. Pandemic had a huge impact on supply chains and every hope of recovery over 2022 got truncated by the war of Russia against Ukraine. This year continues the tendency and has started with a declining demand and increasing inflation due to large parts of the world entering recession. With this current panorama, large organisations should prioritise the financial integrity of their supply chains. Tradeshift predicts an increase in financial services that can “unlock huge amounts of liquidity from outstanding receivables, enabling suppliers to manage their cash flow much better and more predictably”.

One of our specialties at Brait is invoice automation. Implementing this service will significantly reduce time , cost and human errors involved in processing and accounting; resulting in accelerating closing processes.

B2B Marketplaces

According to a market projection from Digital Commerce 360, “B2B marketplaces are now the fastest-growing channel in B2B ecommerce”. Due to the pandemic, more and more people felt safer shopping online and to this day, the tendency of using digital shopping channels has continued increasing. As claimed by Wundermand and Thomson´s Future Shopper Report, “73% of global shoppers said eCommerce will be more important for them this year”. Marketplaces are also becoming a key topic for businesses as they can be crucial for supply chain resilience and sustainability, due to the transparency they provide.

Through our B2B Networks service, we help you transform the purchasing process and make the relationship with your suppliers a strategic asset for your company.

Digitalization

Based on a recent study Tradeshift carried out on financial leader´s priorities for the new year, digitalization and talent acquisition are on top of the list. Process automation will remain key for increasing efficiency and minimising labour costs. On the other hand, with an increasingly competitive international market, attracting and retaining talent its more complicated than ever. Whilst the automation of repetitive tasks will decrease the human capital spent by organisations, employees will need to be qualified with the appropriate skills to manage and extract all the value and information that new technologies provide. The majority (74%) of CFOs agree that technology investment will continue to be crucial in supporting their role. The automation of traditional finance processes allows CFOs to focus on newer concerns such as talent acquisition and growth or strategy development.

If you would like any guidance on how to optimize your current processes for the new year starting, contact us and we will be happy to help.


Artículos relacionados  Procurement management: SAP, Coupa y Tradeshift