Cover for the PYMNTS and Corcentric March 2023 Playbook, Digital Payments: Modernizing Procurement Processes

Modernizing Procurement Processes

CFOs Say Procurement System Modernization Avoids Supply Chain Failures

Enterprise firms learned a valuable lesson at the start of the pandemic: Legacy procurement systems must be upgraded. In “Digital Payments: Modernizing Procurement Processes,” a collaboration with Corcentric, 500 CFOs across four industries share their procurement pain points and plans to modernize them in order to avoid future supply chain disruption.

Inside the March Playbook

  • 44%: Portion of manufacturers planning to make investments in procurement processes
  • 31%: Share of retailers already investing in digital procurement technologies
  • 18%: Portion of finance and insurance CFOs saying cost reduction is the top reason for investing in digital procurement technologies

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