Procurement transformation project in a big bank or financial entity
Hello, has anyone developed a procurement transformation project in a big bank or financial entity towards digital transformation, be closer and add value to the business, be more agile and efficient, look for internal customer experience, contribute to CSR and sustainability....etc?
Thanks a lot!!
Hi Oscar, I have completed many transformation projects and in summary here are a few of my key focus areas and I hope this help you. The first step was for me to identify what the real problem was and this is sometimes difficult and the real problem is sometimes hidden under a need to reduce expenses, increase revenue or drive efficiency. Then when the strategy is developed the key here was to ensure the strategy was aligned with the corporate objectives of the company and we had the support for the C-level executives from a budgeting and resource allocation point of view. We then needed to integrate our strategic thinking with the rest of the business objectives to ensure we all had alignment and a sense of purpose. Then we moved into the more operational part of this by establishing both leadership and working teams who reported the projects via a PMO reporting structure. Use also used a Visual "war' room to be transparent in our progress and invited every key stakeholder to view this and make comment. Stand up meetings were used to keep focus and then we executed within budget and the adequate time frame. Relative to your project, ensuring that you select the right digital partner who shares your values, culture and deliverables is a key for a successful digital transformation. Hope this assists. good luck. Cheers, Keith