Your Collaboration Guide for Procurement and IT Leaders: The 2024 ProcureCon CPO-CIO Report

In their most recent report, surveying 100 procurement, supply chain, and risk management leaders, ProcureCon found that 66% of CPOs are closely tied to the strategic IT planning process with their CIO/CTO colleagues. This collaboration is a key success driver for companies and reveals the ongoing trend toward breaking down silos between procurement, finance, and IT, enabling improved processes and cost savings.

But there is more opportunity as many procurement professionals are not integrated fully, or at the right time, into the technology decision-making process. Through the lens of a variety of leaders, from C-level to directors, this report looks at current working relationships and processes and offers some insights into where professionals should look to head in the future for better decision-making and maximum efficiencies.

This report highlights ways in which CPOs and procurement leaders can remain strategically relevant and continue to make an impact through:

• Sourcing and vetting technology solutions in collaboration with IT departments
• Outsourcing business functions like cybersecurity to gain expertise and advanced technology
• Encouraging regular, and early, communication between procurement and IT departments

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