In 2015, we saw exciting new platforms that are disrupting the procurement function
, developments in global interconnectivity, the continued rise of the extended workforce
, and the viability of business networks. The question on everyone’s mind now is, “What will happen in 2016?”
Matthew York, Editor of CPO Rising & Procurement Researcher at Ardent Partners moderated an interactive, executive roundtable featuring a lively discussion. The experts in attendance were:
- Andrew Bartolini, Ardent Partners
- Christopher Dwyer, Ardent Partners
- Al Jacobs, Puridiom
- Meredith Johnson, Beeline.
Utilize this webinar recap when planning procurement strategies for your business in 2016.
Contingent Workforce Management (CWM) Predictions for 2016
The expert panel talked about the future of contingent workforce management.
- Total Workforce Management begins to realize its idyllic potential as the “future” of talent management. Procurement, therefore, has a golden opportunity to lead the charge and work with HR by introducing strategies and solutions that will enable the executive suite to better assess, vet, deploy, pay, and analyze talent within the organization.
- “On-demand” becomes the true global standard for all talent engagement. Find W2’s, independent contractors, consultants, etc. all from one software.
- Integration, analytics, and collaboration all fuel the continued strategic rise of CWM.
- The frameworks built by leading organizations will spark the next wave of innovation.
3 Big Trends to Watch
Meredith Johnson, Andrew Bartolini, Al Jacobs, and Christopher Dwyer discussed some big trends that will shape 2016.
- The Rise of On-Demand Talent:The webinar revealed that 70% of companies expect their contingent workforce to grow steadily in 2016 and that 95% of businesses see non-employee talent as vital. Expect the rise of the contingent workforce to continue.
- Big Data Gets Bigger:CPOs will need a data strategy to manage spend data, supplier performance, operational metrics, supply market pricing, unstructured data, and third-party sources.
- Functional Partnerships: This will include CPO/CFO detente, HR & Procurement, Treasury, AP & Procurement, and Product & Sourcing teams.
As on-demand talent becomes more critical to enterprise success, 2016 is going to be an interesting year, and you’ll see new opportunities open up. Don’t fear change. Instead, learn to prepare and adapt. If you can adapt before your competition, you will have a competitive advantage.
What procurement predictions should you prepare for in 2016? Join the conversation by tweeting @BeelineVMS