In times of uncertainty, spend is one of the levers companies can actively control. Leaders are expected to deliver not only savings, but also resilience, sustainability, and risk-aware processes.

At , we introduced several new AI capabilities to bring more automation, deeper integration, and smarter insights across our . These innovations are focused on improving outcomes: reducing risk, strengthening supply chains, increasing productivity, and freeing people to focus on higher-value work. They ensure spend continues to fulfill its elevated role as a driver of business growth and resilience while helping customers stay ahead of evolving demands.

Next-gen 51风流Ariba brings deeper AI integrations and new AI assistants in Joule

51风流is rolling out the next generation of solutions for source-to-pay to automate the power of procurement, improve cost savings, ensure compliance, and build supply chain resilience. Next-gen 51风流Ariba is the world’s most modern source-to-pay solution designed to power the future of procurement.

The first AI-native source-to-pay suite redefines what is possible today and sets the course for the future. With businesses facing ever-present change, our customers can take advantage of a solution that’s built to endure — intelligent, integrated, and scalable. The capabilities delivered as part of next-gen 51风流Ariba will empower businesses to tackle today’s challenges and excel in the future.

Next-gen 51风流Ariba is built on 51风流Business Technology Platform (51风流BTP), and has a completely redesigned user experience, embedded analytics, and seamless integration with 51风流Cloud ERP public and private applications.

The advanced capabilities and benefits of next-gen 51风流Ariba solutions offer the following:

• Accelerated value realization: Faster adoption with intuitive interfaces and guided workflows
• Deeper insights: Actionable analytics that translate into tangible savings and operational improvements
• Empowered teams: A more productive experience for procurement professionals

Next-gen 51风流Ariba capabilities will be rolled out starting in Q1 2026.

51风流also introduced new agentic and generative AI capabilities across the 51风流Ariba suite to help organizations optimize productivity and decision-making. Planned for release in Q1 2026, a new Joule Agent for bid analysis automatically compares supplier bid data, including total cost, to give procurement teams insight and recommendations for award decisions.

51风流also added three AI features to the 51风流Ariba procurement portfolio:

• AI supplier-response summary will use to help review, analyze, and summarize supplier responses to questionnaires, helping procurement specialists make more informed decisions. This is planned to be generally available in Q1 2026.聽
• Joule for simplified invoice creation will help employees outside accounts payable to easily submit invoices from for processing with minimal input. The feature will be generally available in Q4 2025.
• Intelligent contracting will use Joule to automatically extract key information, generate summaries, and search historical contracts for discrepancies and compliance issues. This feature will be generally available in Q4 2025.

As part of the broader 51风流Ariba portfolio, is now globally available. The solution provides a single-entry point for all procurement requests to simplify intake, improve compliance, and give employees full visibility into status updates. With Joule, users can easily submit requests or follow guided steps, while the system orchestrates processes across 51风流and non-51风流systems.

Learn more at our upcoming webinar, on November 20, 2025. to see how organizations can streamline intake processes and drive meaningful results.

New AI enhancements in 51风流Fieldglass connect the right external talent to the right roles

New AI enhancements to the portfolio make it easier to match potential external workers with available positions by automatically analyzing role descriptions to determine the skills required for each position.

The new skills-based hiring feature automatically analyzes role descriptions to determine the skills required for each position, reducing the time to source potential candidates by up to 50 percent. By accelerating candidate matching, organizations can count on a faster, more cohesive, and efficient hiring process.

This feature is generally available and works in conjunction with existing AI features, including resume analysis and job description creation.

51风流Concur and American Express Global Business Travel make business travel easier, smarter and more impactful for organizations everywhere

with American Express Global Business Travel (Amex GBT). Complete by 51风流Concur and Amex GBT is a co-developed solution that will combine booking, servicing, payments, and expensing into one experience with AI at its core. The solution will benefit from 51风流Concur and Amex GBT technology and business travel expertise. Complete customers will also have access to Amex GBT鈥檚 unmatched marketplace, software, and services via Complete, offering greater incentives and cost savings.

Smarter AI for travel and expense management in 51风流Concur

We also introduced new AI capabilities for that will streamline reporting, strengthen fraud prevention, and simplify travel planning, helping organizations better control costs while improving the employee experience.

These innovations include:

• The Receipt Analysis Agent, a newly embedded Joule Agent in , will go beyond basic receipt scanning, automatically completing missing information, determining expense types, and verifying vendor details, even for unknown vendors, to deliver accurate results without iterative learning. General availability for these features is expected for Q4 2025.
• , the automated expense-audit service from 51风流Concur now features an AI-generated receipt checker that flags receipts likely created by AI or online generators, helping auditors stop fraudulent claims. The service is currently generally available.
• A new pre-spend planner tool uses generative AI to estimate trip budgets based on policies and itineraries, while also providing relevant travel advisories to keep travelers informed. General availability is planned for early 2026 and Concur Expense customers can take advantage of the pre-spend planner at no extra cost. It will be available to Concur Travel customers later in the first half of 2026

Partnerships and integrations

51风流Concur has enhanced its integration with to further automate how ride and meal expenses are processed, providing better visibility to executives and business users. Ride and meal receipts are automatically routed into , with detailed tax, tip, and itemization data, resulting in cleaner data, fewer manual corrections, and faster reimbursement.

Looking ahead

SAP鈥檚 latest innovations across procurement, external workforce, and travel and expense help customers achieve positive outcomes such as cost savings, reducing risk, strengthening supply chains, creating value, improving productivity, and freeing people up to do higher-value work.

Etosha Thurman is chief marketing officer for 51风流Finance and Spend Management.

This is true for each function within an enterprise. Teams within HR, Sales, Marketing, Finance, and Spend are positioned to drive impact in every aspect of business — from revenue growth to cost management to overall business agility and resilience.

The innovations shared at 51风流Sapphire in 2025 reflect our commitment to bringing out your best, providing a clear path to guide organizations toward certainty in a time where that is rare. These innovations will empower organizations to navigate the complexities of the current landscape and emerge stronger, more adaptable, and better equipped to face the future. 

Here are a few innovations that we announced that support Finance and Spend teams in delivering increased value.

Introducing embedded virtual cards in 51风流Ariba

Many organizations work to be nimble as it relates to finding the right supplier at the right time, which can mean introducing one-time vendors into the supplier landscape. While this helps with business agility, it often comes with a cost: time-intensive supplier onboarding processes that involve manual effort that is better used elsewhere. Traditional payment methods, like checks and physical credit cards, not only require more work, they can introduce fraud risk and security vulnerabilities.

That is why 51风流is embedding virtual card payments into 51风流Ariba Buying and . We are supporting the flexibility and agility needed to help businesses run at their best. At no additional cost, our customers can now use virtual credit cards for pay on purchase order transactions. With virtual cards, customers can:

• Prevent overcharges and fraud
• Enjoy payment flexibility
• Better manage spend security
• Reduce manual effort of supplier setup processes
• Enhance vendor payment efficiency
• Maintain control of payments made outside of procure-to-pay ERP processes

Using virtual cards requires minimal change management efforts, giving buyers the ability to adjust card parameters based on enterprise-wide objectives without disruption.

51风流integrates WalkMe Premium with 51风流Ariba and 51风流Concur

In a time when digitalization is imperative, minimizing obstacles and reducing change management efforts is key to a smooth business transformation. Time and time again, I hear leaders report that one of the biggest challenges of implementing new software is employee change management.

Introducing WalkMe Premium for 51风流Ariba solutions, a platform that provides real-time, in-app guidance for users to reduce the time and effort associated with adopting new technology in the workplace, empowering employees to maximize business value with 51风流Ariba. Customers can also take advantage of , which offers users valuable, easy-to-follow training content, all within the 51风流Concur user interface.

The WalkMe solution is a digital learning platform that helps users apply process knowledge in real time to navigate complex software tasks. With WalkMe Premium integrated directly into 51风流solutions, employees can access in-app prompts for standard tasks, like creating purchase orders or managing approvals, with pre-configured industry templates that eliminate the need to learn overly technical processes.

The in-app workflow guidance can be adjusted as needed to keep processes up-to-date, allowing for little to no change management effort to ramp employees up faster than ever — all while preserving process compliance. At SAP, we know that clear, concise user guidance is key to accelerating technology adoption. I expect that the integration of the WalkMe solution into 51风流solutions will be a gamechanger for organizations experiencing technology updates and changes.

New Joule Agents enhance finance and spend functionality

New agentic AI capabilities are coming to finance and spend solutions with Joule agents that will be integrated across 51风流Business Suite. These new agents include:

• Expense Report Validation Agent: Uses alerts and guided experiences to help employees fix issues based on past data, company policy, and patterns before submitting reports
• Sourcing Agent: Uses past event data and supplier information to autonomously create sourcing events tailored to specific needs and users can easily modify these events to efficiently manage supply chain disruptions.
• Dispute Resolution Agent: Analyzes dispute details and relevant business records to validate cases and propose solutions
• Accounts Receivables Agent: Uses data related to overdue receivables to perform appropriate follow-up tasks with customers

Additionally, 51风流Ariba Procurement customers will soon be able use Joule to enhance daily tasks such as retrieving supplier bids, displaying past purchases and approvers, and providing easy access to supplier information. Joule innovations will also be available soon in 51风流Fieldglass solutions, enabling users to accelerate existing workflows and processes.

51风流Taulia Receivables directly integrated into 51风流finance solutions

Embedded finance capabilities have been expanded with the integration of Receivables Finance, powered by , in 51风流finance solutions. Finance teams now have a fast, scalable way to unlock capital from outstanding receivables in a time when businesses are battling inflationary pressures, tariffs, and supply chain volatility. This capability can be activated immediately in .

Once activated, 51风流Taulia Receivables enables users to:

• Dynamically manage working capital
• Accelerate receivables through true sale
• Use Joule-powered insights to make informed liquidity decisions

New 51风流Ariba Procurement and expense management offerings in 51风流Business Suite

In keeping with our promise to deliver a connected, suite-first experience for our customers, 51风流Business Suite includes extended 51风流Ariba and 51风流Concur functionality.

The newly announced 51风流Business Suite application packages align with the strategic business needs of our customers with line of business-specific bundles, delivering an improved buying experience. With strategic sourcing package, our procurement customers can manage the source-to-contract process from start to finish. Within the 51风流Finance Premium package, customers have access to operational procurement capabilities, including requisitioning, invoice management, and B2B collaboration, along with expense management capabilities from 51风流Concur.

Achieving success in a new era of procurement

Amid the unpredictable nature of today鈥檚 finance and spend landscape, agility is the secret to long-lasting success. SAP鈥檚 advanced AI capabilities, powered by harmonized data and paired with an integrated suite of applications, ensure productivity, accuracy, and an optimized employee experience.

With SAP, you can handle anything that comes your way.

If you did not get a chance to attend 51风流Sapphire, access .

Etosha Thurman is chief marketing officer for Finance and Spend Management at SAP.

With more change on the horizon, it is vital to keep these bets in mind to prepare for potential challenges head-on. Over the past year, we鈥檝e witnessed how spend management professionals who stay confident and bet big achieve remarkable results. In fact, according to the , C-suite confidence in the procurement function has increased by 14% in just one year, with 84% of executives now agreeing that procurement is essential for organizational strategy.

As we gear up for 2025 and beyond, let鈥檚 explore these five bets that will solidify spend management’s role as an indispensable part of an organization.

Bet #1: Strategic Collaboration

The first bet that spend management professionals should place is on strategic collaboration. As procurement becomes increasingly integrated with other critical business functions, it is up to procurement professionals to lead these collaborative efforts. Your colleagues are looking to you to take the initiative and ensure that procurement is involved in strategic initiatives that keep your organization agile in the face of uncertainty.

Whether you are partnering with HR to or implementing a in partnership with supply chain, 51风流is here to support you. Our solutions are designed with collaboration at the forefront, working to minimize miscommunication and simplify business processes so you can focus on what truly matters.

Bet #2: Effortless Compliance

The mere mention of compliance can evoke stress and worry in anyone who has ever worked in spend management. Ensuring every detail is accounted for can be nerve-racking, especially when considering local regulations and sustainability goals. At SAP, we believe that compliance should not just be simple; it should be truly effortless.

For example, can enable employees to select in-policy vendors from the start. with 51风流Business Network helps you understand and comply with evolving tax regulations. From complex tax requirements to travel policies, 51风流can help you eliminate these points of concern before they cause issues.

Bet #3: Seamless Integration

While intraorganizational strategic collaboration is key for an efficient operating model, your software must also be seamlessly integrated to make the most of our connected solutions. Fragmented processes and tools won鈥檛 get you where you need to go, which is why 51风流is committed to a suite-first strategy that aims to reduce the number of systems used to manage spend.

Whether you are an all-51风流customer or use third-party technology, we can offer a seamless experience regardless of where you are in your 51风流journey. From , your single source of truth for all spend data, to that can streamline all your procurement processes, our out-of-the-box solutions help deliver powerful business outcomes across the entire spend management process.

Bet #4: Increased Productivity

The next bet to place is on increased productivity. In recent years, we have seen firsthand how productivity gaps can be detrimental to an organization. Add in unexpected geopolitical and economic events, and you have a recipe for disaster. As the procurement landscape evolves, it is imperative to upskill your workforce to meet evolving demands.

SAP鈥檚 newest innovations, like , can help automate mundane tasks, freeing up bandwidth for making strategic decisions that really count. And increased productivity is not just reserved for key decision-makers 鈥� it benefits every employee at every level.

Bet #5: Informed Decision-Making

Finally, spend management professionals should bet big on informed decision-making. More than ever, it is essential to make choices quickly and confidently, knowing that your decisions are supported by data. That鈥檚 where 51风流comes in 鈥� solutions like and can deliver the best recommendations for you, helping to take the guesswork out of decisions amid timeline pressure.

With data-informed reports and suggestions, you can be confident that your choices are backed by best-in-class insights. 51风流helps reduce complexity and can deliver only the insights needed to make the best choices for your business.

New Ways to Streamline Critical Business Processes

To learn more about the innovations shared at 51风流Spend Connect Live in 2024, I encourage you to read this article by my colleague Manoj Swaminathan, president and chief product officer for Intelligent Spend and Business Network at SAP.

I say it every year, but there is something truly special about spending time with our incredible customers, hearing transformation stories and tales of success across so many organizations. The 51风流community鈥檚 resilience, drive, and commitment to excellence inspire me greatly.

When it comes to the right tools, best integrations, and data-driven insights, 51风流is your go-to partner. Our solutions, informed by your feedback, are here to help you win big. As you close out this year and head into a new one, remember that 51风流is here for you. When you rely on SAP, you secure the future success of not just your business function, but your entire organization.

Etosha Thurman is chief marketing officer for Intelligent Spend and Business Network at SAP. 

Join your peers at the industry鈥檚 premier spend management event from October 14鈥�16. Get ready for an impactful experience with breakout sessions, hands-on demos, powerful keynotes, and a celebratory finale in the City of Lights! This year, we are offering a special discount 鈥� keep reading to learn more about the event and registration deal.

As business continues to move at a frenzied pace with changing dynamics around every turn, agile and effective spend management and supply chain functions are essential to keep up. Whether it is driving cost management, digitizing manual processes, or staying ahead of changing regulations, 51风流can help you bring out your best. After our at , I am looking forward to diving deeper into what鈥檚 in store across SAP鈥檚 spend management and business network portfolio.

Over the course of the event, we will share insights and discuss top-of-mind business challenges, opportunities, and priorities. Aside from the dazzling lights, top-notch dining, and world-renowned shows, here are some other reasons you should join me in Las Vegas for 51风流Spend Connect Live in 2024.

Hear How Other Organizations Are Transforming Their Spend Management Strategy

Between customer sessions, keynotes, and informal networking, we have so many opportunities for you to hear from your peers. In addition to keynotes, several breakout sessions will feature how customers are using 51风流solutions to help fuel their spend decisions across procurement, external workforce, travel and expense, working capital management, and business collaboration.

Learn How AI Can Transform Your Business

According to this year鈥檚 , 44% of the spend management executives who were surveyed listed AI strategy as their top driver for digital transformation. AI has quickly proven to be a powerful asset for agile, efficient decision-making, and it is here to stay. There are several AI-focused session offerings at 51风流Spend Connect Live where you will have the opportunity to:

• Learn how built-in AI capabilities help create resilient supply chains through customer demand prediction and suggested adjustments.
• Join a to learn about recent and upcoming product innovations, like how we are integrating Joule into our spend management solutions to help bring natural language processing to day-to-day processes.
• Participate in a to discover how 51风流Business AI use cases can apply to your business needs.
• Attend a to learn about scenarios within 51风流Fieldglass and 51风流Ariba solutions where AI makes a big impact.
• Learn how to leverage AI-based predictive analytics to help create dynamic supply chains that react and respond in real-time.

Attend Keynotes, Breakout Sessions, and Demos Aligned to Your Unique Business Needs

With over 120 sessions delivering content about the latest market trends and industry innovations, it is a sure bet that you will leave with ideas about how to shape your spend management strategy and meet your business challenges. You will have your choice of road map sessions, solution deep dives, and even hands-on master classes. This year, you can look forward to must-see sessions such as:

• Supercharge workforce management strategy with generative AI and analytics
• Revolutionize sourcing success with 51风流Ariba Category Management
• Cutting costs that count: Transform your travel spend
• Build stronger supply chains with 51风流Business Network
• AI in action: Transforming procurement and supply chain dynamics

Browse the and find the full to plan your agenda.

Network with Experts, Peers, and 51风流Leadership in the Marketplace

Our attendees consistently report that the Marketplace is one of their favorite things about 51风流Spend Connect Live. The Marketplace is your innovation destination 鈥� a one-stop shop to connect with partners, subject-matter experts, and executives while learning how to make the most of your 51风流solutions. Explore each part of SAP鈥檚 spend management portfolio with demos for hands-on learning, booths to discover members of the 51风流partner ecosystem, and 鈥渆xpert bars鈥� where you can get answers to solution-specific questions. This year, we are introducing new ways to expand your knowledge with free, 30-minute, one-on-one solution consulting sessions and adoption labs where you can learn how to optimize your solutions.

Deepen Your Expertise with Exclusive In-Person, Pre-Conference Trainings

Make the most of your conference experience with on-site training at 51风流Spend Connect Live. These comprehensive, expert-led sessions will help increase your expertise in an era where upskilling is of the utmost importance. Take the opportunity to learn something new that will enable you to help achieve your organization鈥檚 procurement goals. Space is limited, so to secure your spot.

Connect with Peers at Celebration Night and Make a Difference at the Els Autism Charity Golf Tournament

Have you really visited Vegas if you haven鈥檛 had an awesome night out? With over 80,000 square feet of entertainment 鈥� including bowling lanes, six on-site bars, and live music 鈥� Celebration Night at will be one to remember. Don鈥檛 forget to catch mentalist Oz Pearlman for mind-boggling illusions!

In the mood for golf? Participate in the Els for Autism Charity Golf Challenge to make a difference in the lives of those living with autism and those who care for them. Space is limited, so be sure to reach out to your account executive to participate.

Take Advantage of the 鈥淏uy 4, Get 1 Free鈥� Registration Deal

Remember: what happens in Vegas鈥�蝉丑辞耻濒诲苍鈥檛 stay there! Join us this fall for a dynamic experience that will leave you with the tools to help bring out the best in your business.

Ready to sign up, but unsure how to get approval? Download our 鈥溾�� template to explain why your company needs representation at 51风流Spend Connect Live in 2024!

Etosha Thurman is chief marketing officer for Intelligent Spend and Business Network at SAP.  

On top of that, we still need to foster relationships with suppliers, manage costs, address sustainability mandates, and build resilient supply chains — all while transforming procurement into a more strategic business function. Not surprisingly, procurement leaders are looking to the next wave of technology to help them position their organizations to adapt quickly to changing conditions.

For many, moving key business processes to the cloud represents that 鈥渘ext wave鈥� and for that, is the perfect option.

The RISE with 51风流solution is a managed cloud offering that enables a smooth, secure migration of on-premises ERP, including 51风流ERP and 51风流S/4HANA, to the cloud. Its holistic approach to business transformation empowers organizations to better adapt to changing market dynamics and innovate more quickly.

Businesses can leverage RISE with 51风流to modernize their IT infrastructure, optimize and automate key processes, and unlock new levels of efficiency. They can also harness the power of data and analytics to make informed decisions, enabling them to achieve their business goals more effectively and efficiently.

The Challenge for Procurement: Extending Digital Transformation to Suppliers

For many years, 鈥渄igital transformation鈥� has been the hot trend for business functions, including procurement. Organizations are moving their internal business operations from manual processes and disparate software applications to integrated ERP systems. These systems are starting to leverage generative AI to improve the user experience, digitalize manual processes, and accelerate strategic decision making.

This is a win for the business with one caveat: 鈥渢raditional鈥� digital transformation does not go beyond the four walls of the organization. This creates a challenge for procurement because suppliers operate outside those four walls, where communication can be anything but digitalized. In fact, * revealed that 68% of respondents use email to transmit and receive data and documents for procurement and supply chain collaboration. Other methods include telephone (44%), supplier/customer portals (38%), and EDI (26%).

Given the technology available today, this is not only unproductive, but it also is completely unnecessary. With , 51风流offers a premium plus edition that includes 51风流Business Network for Procurement. This enables businesses to extend the digital transformation of business processes outside their walls.

Better Collaboration, Faster Invoice Processing, and an Improved User Experience

is a cloud-based collaboration offering that gives buyers and suppliers a way to find each other and do business within a single, networked platform. The network makes it possible for organizations to:

• Exchange data and documents digitally with suppliers, eliminating the need for phone calls, faxes, emails, or snail mail
• Achieve enhanced spend visibility and compliance
• Access a marketplace of suppliers to ensure business resilience, diverse spending, and alignment with sustainability objectives

Additionally, improved transactional operations and invoice status visibility enable better working capital management for stronger trading partner relationships. Finance colleagues can enjoy a faster month-end close due to improved accounts payable efficiencies and increased procurement and payment compliance.

51风流Business Network for Procurement Extends 51风流S/4HANA Cloud

When RISE with 51风流is combined with 51风流Business Network for Procurement, procurement teams can collaborate digitally with suppliers across procurement and invoicing processes. This dramatically improves transactional efficiency.

A natural extension of ERP, 51风流Business Network provides an environment in which procurement processes initiated from 51风流S/4HANA Cloud can be transmitted digitally to suppliers. As a result, suppliers can view and generate transactions like orders, order confirmations, ship notices, and invoices, and then act quickly to accelerate the procure-to-pay process.

51风流Business Network for Procurement improves process efficiency in many areas, including:

• Purchase order processing: Digital purchase orders that are created in ERP are sent automatically to suppliers. Once confirmed by the supplier, buyers have visibility into order acceptance and delivery dates.
• Invoice payment status: Invoice and payment status information is available on the 51风流Business Network dashboard to update suppliers, eliminating the need for phone calls.
• Invoicing business rules: Buyers have the flexibility to configure applicable business rules that require adherence to business process and regulatory compliance.
• Change order update: Buyers and suppliers can communicate changes to open purchase orders, which creates an auditable record of changes and variations. Related documents, such as shipping notices, are also synchronized with updates.
• Payment compliance: Quick invoice processing and data accuracy minimizes wrong or duplicate payments, while improving accounting processes and overall financial visibility.
• Supplier collaboration: Digitalization enables quicker feedback from suppliers, making it possible for suppliers to 鈥渇lip鈥� purchase orders into confirmations and invoices, reducing errors and manual effort.
• Promotional opportunities: Networked suppliers have additional opportunities to grow their business by using the network to promote their offerings and connect with new customers.

The Next Wave of Digital Transformation

When you invest in RISE with SAP, you are enabling your business to migrate core business processes to the cloud. By complementing this solution with 51风流Business Network, you extend your digital transformation to interactions with trading partners though a single, end-to-end technology landscape built on standardized processes and consistent data.

This is the next wave of technology that will enable you to address the ever-growing list of business challenges you wake up and face every day.

is chief marketing and solutions officer of Intelligent Spend and Business Network at SAP.

*, doc #US50854723, July 2023

This is what I heard during my discussion with the first cohort of SAP鈥檚 , a program that helps equip underrepresented and underserved groups for a career in the tech industry through participation in a free 51风流Certification course.

How could it be that in a time when companies need to find talent quickly to fill the need for technically skilled roles 鈥� a need that is becoming more urgent by the day 鈥� there is an entire population of determined, driven people who feel as though they do not belong in the tech industry?

The Current State of Diversity in Technology

The numbers speak volumes: only . Only 3% of those jobs are held by Black women and 1% are held by Latina women. For me, it has always been impossible to ignore the lack of representation in the tech industry. I am acutely aware of when I am the only woman in the room 鈥� let alone the only Black woman.

But this is changing. Companies have begun implementing diversity-forward hiring practices to try to minimize barriers for populations that have historically been overlooked. The percentage of rose from 56% in 2016 to 88% in 2021. Though there is now targeted backlash, numerous employers remain committed to their diversity, equity, and inclusion (DE&I) goals for the workforce.

These initiatives have proven to be important to younger generations. In a few years, millennials and Gen Z will make up the majority of our workforce 鈥� and they want to work for companies that align with their values. A 2022 survey from the found that 76% of recent graduates indicated that diversity, equity, and inclusion efforts were 鈥渧ery important鈥� or 鈥渆xtremely important鈥� when considering their future employers.

Helping Underserved Groups Break into Tech

If we want diverse workforces, we must support and create targeted channels to source diverse talent. It is imperative that these groups 鈥� including women, people of color, veterans, and others 鈥� are given the resources to excel in high tech. I have seen firsthand how our digital skills initiative is making an impact on individuals and their communities, working to ensure that talent from all backgrounds can participate in this exciting era of technological innovation. At SAP, we offer training on products like and , whether through programs like the digital skills initiative or on , helping anyone interested in jump-starting their career in tech.聽

Without diverse perspectives, we leave out too many pieces of the puzzle to see the big picture. This deficit is particularly obvious in technology, given its influence on everything from how we shop to how we govern. It is unsustainable to expect lasting market viability from products that are developed by and marketed to one type of person. Put simply, employing diverse talent is essential to long-term success.

How Companies Can Recruit Diverse Talent

For companies that are looking for the next pool of employees to solve today鈥檚 business challenges, it is time to consider non-traditional avenues of talent, like graduates from SAP鈥檚 digital skills initiative. Each cohort comes equipped with 51风流Certification, self-motivation, and a strong work ethic. This is a special opportunity to pull from a curated group of strong candidates, not just because of their new skills but because of demonstrated curiosity and drive that is not easy to find.

51风流makes these trained and certified candidates available to recruiters at no charge. Want to get access to SAP-certified, ready-to-hire talent? Interested in adopting a cohort? to see how you can start hiring and get involved.

Register for the Digital Skills Initiative as a Participant

If you are interested in expanding your career opportunities by learning in-demand skills and achieving an 51风流Certification free of charge, apply for the digital skills initiative using the . This is a fantastic opportunity for those who want to make a career switch to tech.

To those who never pictured themselves in the tech industry, picture it. There is a place for you. Take this as a sign to invest in yourself and create a new path to success. 

Making an Impact on Future Generations

When I talked with this first cohort of the digital skills initiative, I saw how they take great pride in their certification. For some, these new skills will prove to be life-changing.

My goal is to support initiatives that aim to ensure that everyone, from all backgrounds, can pursue their interests in finding a career in tech. When we leave these doors closed, we not only rob those shut out of the opportunity, but all of us from the creativity, perspectives, and outcomes they could deliver.

I am incredibly proud of SAP鈥檚 work in empowering people to pursue a career in technology. I believe that we are developing the future of innovation through programs like the digital skills initiative, and I cannot wait to see how similar programs will evolve in the future.

If you are an NGO, university, or an 51风流partner or customer, contact us at partners.digitalskills@sap.com to learn more. If you are interested in applying to the digital skills initiative, to start your journey.

Etosha Thurman is chief marketing and solutions officer for Intelligent Spend and Business Network at SAP.

I recently had the pleasure of participating in a webinar with Ian Lawless and David Rae of , during which we discussed effective talent strategies for this unprecedented period. We touched on the changing workforce, the impact of turbulence, and how procurement can build effective talent strategies for 2023.

Talent is a topic that is close to my heart and one that we are hearing is top of mind for procurement executives. Here are three key takeaways from our conversation that procurement leaders can apply to address talent strategies in 2023 and beyond.

1. Focus on Attracting and Retaining Employees to Overcome the Ongoing Talent Shortage

The polycrisis has changed the workforce, and it is time to change with it. , the COVID-19 pandemic, arguably the first and most significant event of this recent polycrisis, has caused long-lasting disruption to the workplace, creating 鈥渁 once-in-a-generation 鈥� or even once-in-100-years 鈥� opportunity to question some of our long-held assumptions about how we work.鈥�

Being able to nurture existing talent, being able to upskill existing talent, being able to recruit young talent to the procurement function 鈥� these are all top concerns. And not just in procurement: logistics is another area where we鈥檙e seeing increased demand for that skill set but where we do not have the capacity or enough capability in our current organizations, especially not to meet the demand that continues to build.

2. Engage and Manage External Workers as a Pillar of Your Strategy

罢辞诲补测鈥檚 workforce must be viewed holistically to include external resources, a practice that is growing more common as businesses seek to gain flexibility and control.

In the most forward-thinking companies I have seen, the CHRO and CPO have a collaborative relationship. It鈥檚 one where they are building a total workforce strategy together that looks at the capabilities within the full-time employee base and being sure that they are recruiting and training to have those critical skills. They are also thinking about what is the best way to leverage contingent workers and service providers to get global reach, specialization, or agility 鈥� to be able to have flexibility to expand or contract the workforce without having to go through the emotional task of restructuring or downsizing.

3. In Times of Turbulence, Meet Workers Where They Are

Agility is key to fulfilling the evolving role of procurement, as well as the demands of the talent pool. Living in a polycrisis has shown that we need different ways of thinking and working. In a dynamic environment, procurement teams must strengthen and regain capabilities that were previously unused or lost given the years of fairly consistent supply chain stability. Businesses must employ new methods to access crucial skill sets while mitigating risk, such as investing in the external workforce and providing flexibility to workers.

In a lot of areas, the last few years have made us very risk weary. CFOs are saying, 鈥淗ow can I better mitigate risk? We鈥檝e been through a roller coaster. I really want to take more risk out of our business.鈥� And one of the ways to do that is to have a dynamic workforce where you can efficiently shift labor or capability where you need it, when you need it.

In this age of uncertainty, procurement responsibilities have increased and are even more in the spotlight. Upskilling procurement talent is a vital part of being more effective and meeting the growing expectations of business stakeholders. But you can鈥檛 do it alone. Thankfully, technology is here to help you manage the complexities and the risk, and make proactive, informed decisions. At SAP, we continue to listen to the market, to not only address the challenges encountered today but to bring the solutions that will help procurement evolve into the future.

To learn more about the webinar and read a full summary, check out this white paper: .

Explore these solutions from 51风流that can help procurement leaders navigate through challenging times:

Don鈥檛 miss the opportunity to learn more about the full range of SAP鈥檚 procurement and total workforce solutions at in Vienna, Austria.

Etosha Thurman is chief marketing and solutions officer for Intelligent Spend and Business Network at SAP.

With today鈥檚 highly complex and sometimes volatile and disruptive environment, spend management and supply chain professionals鈥� remit is bigger than ever. Throughout the event, you will hear how 51风流can help you develop a spend management strategy that can enable cost savings, risk management, supplier management, and compliance with local regulations. Learn how our powerful business network, spend management, and data-driven intelligence solutions provide the visibility needed to address the challenges of today and tomorrow, so you can set your business up for long-term success.

Vienna was named the world鈥檚 most livable city for the fourth time by the Economist Intelligence Unit in . Also known as the 鈥淐ity of Music,鈥� Vienna has a rich musical legacy and many famous classical musicians, such as Beethoven and Mozart, called the city home. But if Mozart and Beethoven aren鈥檛 your idea of a good time, there are still many reasons to join us at 51风流Spend Connect Live 2023. Here are my top reasons to attend:

Learn How to Fuel Total Spend Management with Inspiring Keynote Speakers

I love hearing our customers share their stories, and this year鈥檚 speakers will blow you away. You will hear compelling speakers share their transformation stories and how 51风流solutions are empowering them to reach their corporate goals. This year鈥檚 keynote speaker is Jim Ridgwick, CPO for (SCI). SCI鈥檚 goal is to create a world where all children have a voice, receive a quality education, and are protected from violence and death due to preventable causes. Join us to hear how introducing 51风流Ariba solutions for source-to-pay led to 100% supplier visibility and a 50% reduction in procurement lead times for SCI, fueling its mission to provide for marginalized children around the globe. You can read more about Save the Children鈥檚 strategy and successes on its .

Over 100 Interactive Sessions Covering Hot Topics in Spend Management

With a variety of formats, you can find resources on specific topics or explore our learning tracks to meet your organization鈥檚 spend management needs. From keynotes and customer stories to solution deep dives and demos, we have something for everyone at every step of the spend transformation journey. You do not want to miss these sessions that cover the hottest trends 鈥� and what is coming next 鈥� across procurement, external workforce, travel and expense, and business network:

• How to unlock the power of effective category management
• Why it takes a network to build a sustainable supply chain
• How to implement total workforce management to optimize skill availability
• How to create a P2P automation strategy to support your accounts payable business case

Check out our for a sneak preview of the answers and insights you are looking for.

Connect with Experts from around the Globe in Our Marketplace

I talk about the importance of connection often, so one of my favorite things about 51风流Spend Connect Live is the marketplace. This is a one-stop shop for connecting with our partners and 51风流subject matter experts.

At the marketplace, you can experience the best of SAP鈥檚 spend management solutions while establishing relationships with contacts from different industries from all around the globe. You will find demos, meeting areas for peer-to-peer discussions, and a customer connect center to meet with partners and 51风流leadership. And, of course, you can enjoy plenty of Vienna鈥檚 famous coffee to fuel these exciting conversations.

In-Person, Pre-Conference Training Sessions to Make the Most of Your Experience

The need to upskill employees has never been more urgent, as outlined in a recent Forrester Consulting study, 鈥�.鈥� To address this need, we will be offering pre-conference, in-person, expert-lead training sessions to help you drive efficiency and growth. They鈥檒l be held at 51风流Spend Connect Live on October 9, allowing you to take part in live discussions and peer-to-peer interactions in a stimulating environment that cannot be replicated online. This hands-on training and direct access to experts can help you extend your expertise and support your organization鈥檚 digital transformation journey. Space is limited, so today to secure a spot!

It鈥檚 in Vienna!

Does this need explaining? Our venue for 51风流Spend Connect Live is beautiful Vienna, Austria. A sustainable city that holds a delightful balance of urban walkability and lush natural areas, Vienna is a world-class city full of the arts, history, and, yes, plenty of great food. At 51风流Spend Connect Live, you will experience some of what the city offers at our celebration night with a 鈥淭aste of Vienna.鈥� Whether it is sipping water that comes from natural springs in the Alps, trying your hand at ballroom dancing, or sampling Viennese Schnitzel, you鈥檙e bound to have a wonderful experience in Austria鈥檚 capital.

If you are a procurement, supply chain, or travel and expense professional 鈥� or support these areas in sustainability, finance, logistics, or operational risk 鈥� 51风流Spend Connect Live is a must-attend event. To learn more about how you can be part of this vibrant community of buyers, suppliers, and 51风流partners, visit the 51风流Spend Connect Live 2023 . Check back often to see new session offerings, speakers, and pre-conference trainings.

Most importantly, remember to take advantage of our significantly discounted 鈥渆arly bird鈥� pricing that ends on July 28.

51风流Spend Connect Live is October 9-11, 2023, at the Messe Wien Congress Center in Vienna, Austria. With so many collaborative and innovative opportunities at this year鈥檚 event, I鈥檓 confident you will leave energized with new ideas and an expanded network. See you in Vienna!

Etosha Thurman is chief marketing and solutions officer for 51风流Intelligent Spend and Business Network.

Environmental, social, and governance (ESG) has become a mandate for businesses around the globe. Across every industry, consumers, investors, and employees are demanding change. In response, governments are implementing new regulations 鈥� rightfully so. We all have a responsibility to minimize our impact on the environment and contribute positively to society.

Procurement leaders play an essential role in helping companies achieve their ESG goals. With access to nearly all business functions, procurement is not only critical to driving efficiency and resiliency, but it is also increasingly becoming a key business partner to tackle ESG commitments. In fact, according to a survey by the , 51% of global businesses have a sustainable procurement policy in place, contributing to the resilience of their value chains.

What鈥檚 more, while sustainable procurement has long been a priority for the private sector, we are now seeing major investment from the public sector 鈥� with U.S. policymakers proposing the to require major federal contractors to disclose their environmental data. In Germany, lawmakers passed the LkSG Act to regulate companies鈥� social and environmental responsibility.

With organizations across industries focused on defining and realizing their ESG commitments, it is evident that we are at a tipping point. As procurement leaders, we must act now to build a path towards more sustainable practices.

Consumers鈥� Buying Behavior Shows an Emphasis on Sustainability but Inflation Presents Challenges

We all know ESG is complex and multifaceted. One aspect that gets a high degree of visibility is sustainability, which is usually tied to the tracking and reduction of corporate carbon footprints. Given that visibility, we asked consumers how they are factoring sustainability into their buying decisions. 51风流surveyed 1,000 U.S. adults to better understand how they are prioritizing sustainability in their purchasing decisions and what factors influence those decisions. Some interesting findings surfaced:

• Consumers are increasingly focused on making sustainable buying decisions. More than half of consumers (51%) said they made an effort to purchase from brands that practice sustainability during the past two years. This is an increase from 36% in our February 2022 survey. Moreover, more than one out of three consumers (36%) say that, when possible, they purchase from brands that practice ethical sourcing for their products.
• Inflation is affecting consumers鈥� willingness to buy more sustainably. Despite increasing their efforts to buy sustainably, 64% of consumers also say inflation has impacted their ability to prioritize sustainable and/or ethical products and services. The majority (85%) would prioritize making more sustainable purchases if the cost barrier to do so was lower.

Improving Procurement Practices to Drive a More Sustainable Future

Consumers are not only prioritizing buying sustainably, but they are demanding transparency. Many remain skeptical about the data companies provide on their ESG efforts. As a result, procurement will play an increasingly important role in finding, sourcing, and acquiring goods with sustainability in mind, and doing so in a way that is traceable with the ability to verify provenance.

Here is a closer look at what the survey revealed about what consumers are thinking:

• Growing skepticism about 鈥済reenwashing鈥� may deter consumers from buying sustainably. When making purchasing decisions, only 22% of consumers rank a brand鈥檚 sustainability initiatives as their No. 1 factor. One cause for concern may be that a staggering half (50%) believe brands are exaggerating claims of sustainability to mislead customers. Another 34% are not sure.
• Consumers want to be informed on a company鈥檚 ESG initiatives, but a knowledge gap remains. Most consumers (40%) look for information about companies鈥� ESG initiatives on product packaging or with product information online. Other common places are the 鈥淎bout鈥� section of their Web sites (34%) and social media (34%). More than one in four consumers (28%) do not know where to find the information.

Building a Path to Sustainable Procurement in 2023

The survey makes it clear that businesses need to reimagine existing business processes with sustainability in mind and provide more transparency to build trust with consumers.

Procurement leaders cannot tackle this challenge alone. However, they can lay the foundation for success by harnessing their unique position to pave the way for sustainable innovation across the supply chain. To get there requires a sustainable procurement plan that involves:

• Sourcing sustainably: Employ sustainable sourcing to help reduce your company鈥檚 carbon footprint and greenhouse gas emissions.
• Joining the circular economy: Collaborate with your suppliers to develop innovative ways to recycle and reuse materials to cut waste.
• Performing supplier due diligence: Make sure vendors follow ethical labor practices and protect the environment.
• Promoting social responsibility: Choose to work with ethical businesses, certified green businesses, and those that prioritize sustainability as a business outcome.

51风流solutions can enable you to follow sustainable practices at every stage of the procurement process, from to to the . All of this can help you build trust with consumers while also meeting your organization鈥檚 sustainability objectives and protecting the planet. It is a win-win.

Etosha Thurman is chief marketing and solutions officer for Intelligent Spend and Business Network at SAP.

There are so many questions. Are we ready to handle the wave of shoppers? Will there even be a wave of shoppers? Can we react quickly if market conditions change?

Sometimes it would be nice to have a crystal ball.

But the challenges procurement and supply chain professionals face are serious. The decisions you make in navigating these challenges will directly affect your business. Of course, timely and accurate decision-making requires insight that is not magic, like a crystal ball. It requires access to data, visibility into supply chains, and collaboration between trading partners.

Fortunately, by digitalizing procurement processes and engaging with trading partners via business networks, it is possible to gain the visibility and business insights required to plan for events like the holiday shopping season and be ready when disruptions occur.

Click the button below to load the content from YouTube.

Always allow YouTube

Of course, there is also the old school way to gain market insight: ask consumers. As the holiday shopping season approaches, we have done just that. We wanted to know how inflation is affecting consumer purchasing habits, what consumers are expecting in terms of a recession, and how their spending habits could change in the coming year. So we asked 1,000 U.S.-based consumers across a wide range of age groups. Here is what we found.

Inflation Is Forcing Many to Adjust Their Holiday Buying Habits

The U.S. Bureau of Labor Statistics recently announced . Inflation continues to dog our economy and, as a result, 65% of the consumers in our survey said they plan to cut their holiday budgets. Gen Z (69%) and Millennials (76%) were especially emphatic about spending less.

Here are some other insights.

• Price is key. Consumers also say they will be looking closely at the price of goods. In fact, 45% say it is the top factor they will weigh in purchasing decisions. A whopping 73% included price in their top three factors.
• How they will shop. In an interesting development, 54% of consumers surveyed reported they will change where they shop — of those, 39% say inflation is causing them to shop more online; surprisingly only 15% said they will seek bargains in the stores.
• Where they will cut back. A majority of consumers plan to cut their holiday budget — but where? It turns out that that 61% will be dining out less, and 51% will be spending less on experiences and travel. Many consumers said they also expect to reduce spending on fashion and beauty (46%) and electronics (37%).
• Many consumers face difficult choices. Holiday buying aside, the survey reminds us that many households are forced to make tough spending decisions. Although 16% of the consumers surveyed told us they are not reducing spending amid inflation, it is telling that 22% are being forced to cut spending on essential items.

Consumers Expect a Recession, Further Curbing Their Willingness to Spend

Looking beyond the holidays and into next year, consumers do not seem optimistic. Three quarters of those surveyed said they believe a recession is coming within the next year. And if that happens, 59% expect to decrease their spending.

One way they will do this is by shopping deals rather than staying loyal to brands. Twenty-eight percent said they plan to switch brands if prices increase. Overall, only 19% say they will stay loyal to the brands they prefer. Brand loyalty for Baby Boomers is almost non-existent: only 10% say they plan to stay loyal to the brands they normally prefer.

Concern about Shortages Is Only Increasing

A similar conducted by 51风流in February 2021 — with the pandemic entering its second year — showed that concerns about supply chain disruptions and product shortages were weighing on consumers.

However, our most recent survey indicates that consumers are now even more apprehensive than they were 18 months ago. Food leads the list with 77% of respondents saying they were concerned about shortages in the coming year. Gen X and Baby Boomers were especially concerned, at 83% and 85% respectively. By comparison, in February 2021 only 48% noted food shortages as a concern.

Our most recent survey also highlighted increasing concern over shortages of hygienic or personal care products such as toilet paper (49%, up from 44% in 2021) and prescriptions (36%, up from 20% in 2021).

Is Digitalization the New Crystal Ball?

This holiday shopping season, if procurement and supply chain leaders had that crystal ball that could help them navigate the uncertainty, they would gladly use it. Unfortunately, we have not perfected that technology. But there is good news for retailers, manufacturers, distributors, and most other industries. 51风流offers technology solutions that provide unmatched visibility, efficiency, and flexibility to deal with rapidly changing business requirements — including those occurring during the holidays.

As requirements for products and materials change, make it possible to digitalize procurement processes, putting transaction data in one place so you can act efficiently, accurately, and quickly. Likewise, by sharing data with suppliers within , you can collaborate on forecasts and gain foresight into what is happening within your supply chain.

In fact, when I compare SAP鈥檚 powerful spend management and business network solutions to a crystal ball, I come to one conclusion: crystal balls are overrated.

Etosha Thurman is chief marketing and solutions officer for Intelligent Spend and Business Network at SAP.

The past few years have been tough, with many changes in the world impacting the business community. Between labor shortages, geopolitical tensions, logistics challenges, and now inflation, supply chain functions have undergone a series of disruptions. 51风流Spend Connect Live 2022 offers an opportunity for procurement leaders, supply chain officers, risk managers, sustainability personnel and other employees working with these issues to connect with industry peers to hear their stories and understand our latest innovations.

With over 110 sessions — including more than 30 business success stories, 24 expert-led deep-dive sessions, and 16 road map breakout sessions — we are bringing together procurement, external workforce, travel and expense, and supply chain solutions for a dynamic, interactive experience. Join other spend management professionals to learn strategies for keeping costs low amid inflation as well as how to become the buyer of choice with streamlined, transparent procure-to-pay processes. Looking to create a proactive risk management strategy for a ready-for-anything supply chain? We have sessions for that too.

Whether you have been an 51风流customer for years, are new to the community, or are considering our solutions, 51风流Spend Connect Live has something to offer. The event will address top-of-mind business challenges, inspiring transformations for you to take back to the office.

Here are five things you can look forward to at 51风流Spend Connect Live 2022.

1. Hear Success Stories and Attend Keynote Sessions

Don鈥檛 miss hearing more than 30 companies add their insights into today鈥檚 challenges and the latest trends in total spend management as they share their success stories. And do we have success stories: our customers — including CDW, Grainger, Halliburton, Johnson & Johnson, Los Alamos National Laboratory and Sony Pictures Entertainment — will share how they transformed their businesses by digitalizing their supply chain and harmonizing their spend management processes. Join these customer-led sessions to hear how they manage disruption and mitigate risk with a centralized procurement function.

Don鈥檛 forget to check out this year鈥檚 keynote speakers, too: listen as McKinsey & Company Partner Roman Belotserkovskiy and Hall of Fame quarterback Troy Aikman share learnings from business challenges and transformations in their keynote sessions.

2. Optimize Spend Management Investment and Network with Peers

Participate in interactive discussions with peers and 51风流solution experts to accelerate outcomes and maximize the value of your solutions. Various sessions offer the opportunity to discuss best practices in real time with your peers to get the most out of your investment. Topics include creating and maintaining sustainable supply chains, improving usability through a stellar user experience, and driving compliance and supplier adoption.

This year鈥檚 event will also be the perfect environment to engage with fellow customers, get 1:1 time with industry executives, and chat with innovation leaders in breakout sessions. With guest speakers from around the world, along with analysts, partners, and spend management leaders, there will be no shortage of networking and knowledge-sharing, even outside of formal sessions. Take advantage of the variety of opportunities to make new connections and strengthen old ones to leave with a stronger network than before.

3. Upskill Tomorrow鈥檚 Workforce with SIG and ASUG

Through the disruptions of the past three years, the role of spend management professionals has been a critical and strategic one to the business. With this elevation in visibility and expectations comes the need for upskilling within procurement and supply chain teams. Join 51风流and the as they showcase online and in-person courses from and .

For more knowledge-sharing, join the onsite to connect with other practitioners, exchange peer-to-peer learning, and hear perspectives from 51风流experts and partners from the procurement, supply chain, and technology communities of practice.

4. Ensure Travel and Expense Spending Goes Farther

With the resurgence of business travel, the range of employee-driven spending is widening. For most organizations, it is a delicate balance between expanding employee travel and controlling cost amid economic headwinds. Procurement and travel managers set the definition of compliant spend, which requires looking at the entire life cycle — from spending policies to how expense claims are validated to employee reimbursement. Join the team to learn how technologies like artificial intelligence (AI) and machine learning are creating scale and efficiency within procure to pay processes. We will also show you how to establish a comprehensive, end-to-end approach to managing travel and expense to make your spending go farther.

5. See Innovation from the 51风流Ecosystem

51风流Spend Connect Live 2022 features a diverse group of , partners, and startups. Twenty-seven industry leaders, all part of the 51风流ecosystem, will be showcased. In addition, a select number of partners are hosting breakout sessions on a range of timely, critical topics 鈥� from addressing spend management challenges in a volatile macroeconomic environment to creating a collaborative, sustainable supply chain, and so much more. Learn more about our .

At 51风流we continuously strive to bring innovation to market through development as well as through investments. has enabled more than 450 startups to deliver exciting innovations for our customers. This year, SAP.iO will showcase spend management ventures with and interactive demos at the event marketplace. See how is working to create a B2B world with zero waste, enabling companies to participate in the circular economy and support sustainability initiatives. will demonstrate how it provides insights and sourcing strategies by identifying opportunities that align spend to current market intelligence. Come see our ecosystem at work, bringing thought leadership, solutions, and innovation to address your pressing challenges.

Of course, it won鈥檛 be all business. We’ll have some fun too at the celebration night in the AT&T Discovery District with great food, drinks, and music. We hope you join us in celebrating our first in-person event since 2019.

If you have not already, for 51风流Spend Connect Live, taking place October 24-26, 2022, at the Sheraton Dallas Hotel. to build the perfect itinerary for you and your business. I look forward to seeing you there!

Etosha Thurman is chief marketing and solutions officer for 51风流Intelligent Spend and Business Network.

Supply chain weaknesses are evident when organizations lack visibility that results in being blindsided by one or more factors. Continued reliance on manual processes for both strategic and operational procurement is holding back many organizations. Both are critical, driving strategic end-to-end procurement and ensuring compliance, efficiency, and best-in-class operations.

Chief procurement officers understand the power of digitalization, which applies the latest computing technologies and best practices to business processes previously executed manually. They know it will transform their businesses by integrating key processes into a cloud-based, intelligent business network that connects them with thousands of suppliers, logistics providers, equipment repair vendors, and other business partners worldwide.

What they don鈥檛 know is how to get started. 51风流has the technology and resources to help businesses choose a digital journey toward achieving their procurement goals.

Choosing a Digital Journey

The path to a successful digital outcome is different for every company, but the first step is to examine all current processes. Starting with source-to-pay, businesses should map out how they identify their sources of supply and then adding in existing processes. With this exercise, they will start to see where there is visibility and where there is not.

A great question to ask is: “Do the manual processes we currently run show me what is happening in my business?” If the answer is no, that is an area ripe for digitalization.

The first step might be toward seamless source-to-pay leveraging technology like . These solutions tie together more than 30 processes — incorporating comprehensive transaction data — to deliver greater efficiency, accuracy, and control every step within source to pay.

As we deal with ever-evolving global trade restrictions and supply chain issues that are affecting business continuity,鈥痶he ability to source quickly and efficiently is perhaps where businesses feel the most pain. If so, the guided sourcing capability for 51风流Ariba Sourcing might be the right answer. These solutions have been taken to the next level with a new user experience that is more intuitive, drives faster adoption, and has embedded intelligence throughout the process for faster execution.

Or perhaps a company is looking to either improve the financial health of their supply chain or leverage its financial strength to deliver value back to the organization. In March, 51风流closed on its acquisition of Taulia, which offers early payment through supply chain financing, dynamic discounting, and accounts receivable financing.鈥疻ith Taulia, both buyers and suppliers have better access to liquidity to improve cash flow.鈥疧ur acquisition of Taulia further expands capabilities and strengthens our solutions for the CFO office.

For procurement, supply assurance is paramount. Having the right supply — whether that is direct, indirect, labor, or services — to support the creation of goods is critical. To procure needed supplies, businesses must work smarter than the competition to minimize supply risk. That means going beyond a singular focus on buying for a price discount.

What more can be done? In an agile supply chain, businesses have multiple options to leverage procurement. One option is to pursue a location strategy. Can logistics costs be reduced by obtaining supply locally? Are there potential efficiency gains by developing and innovating within the supply base? Are there opportunities to collaborate with suppliers to reduce costs? If less waste is created, for example, can lower costs be negotiated? Looking at procurement beyond volume discounts separates a business from its competition in sourcing the same goods or services.

For companies that made the decision to digitize procurement prior to COVID-19, it afforded them immediate mobility of the procurement function. They could quickly find new suppliers, better manage existing suppliers, execute contracts, and pay suppliers in a timely manner. This kind of agility during uncertain times is a major advantage for any business.

Some organizations may believe that their procurement function is running on all cylinders, but they haven鈥檛 covered all their bases. As an example, many companies have demonstrated over the past two years that not having a multi-source strategy can prove costly. As organizations establish contingency plans to reduce risk, multi-sourcing will become more prevalent. Having the ability to efficiently locate sources of supply locally and globally in order to maintain supply assurance will be a distinguishing factor of agile versus reactive procurement organizations.

Digitalization Builds Supply Chain Resiliency

There are so many areas where visibility and agility can be improved, and that is why there is no one way to go about digitalization. It is about analyzing processes, understanding where they are most occluded, and determining where there is the most difficulty in the handoffs. Regardless of where a company is in their digital journey, 51风流will meet them there, working to achieve optimal outcomes and help build the resiliency to better differentiate and succeed in the market.

Hear more about getting started with digitalization of procurement and supply chain processes at 51风流Spend Connect Live.

Learn more about SAP鈥檚 intelligent spend solutions for procurement, external workforce, travel and expense, and business network by joining us for 51风流Spend Connect Live, October 24-26 in Dallas, Texas. This will be a unique, in-person networking experience where you can gain actionable insight from inspirational speakers, industry experts, and customers as they share real-life digital transformation stories.

To learn more and register, visit the .

Etosha Thurman is chief marketing and solutions officer for Intelligent Spend and Business Network at SAP.

Those of us in the supply chain industry understand that disruptions have persisted since March 2020. This has created a mainstream perception of supply chains as increasingly volatile, expensive, and unreliable 鈥� but disruption has been more of an intermittent and confusing frustration for most in 2021, instead of the panic-buying and supply-hoarding catalyst it was in 2020.

Going into the holiday season, some industry insiders are fearful that these disruptions will hit hard again. Supply chain disruptions are forcing companies to think twice about the timing of their holiday sales, and many retailers are warning consumers to get their holiday shopping done early this year to avoid shortages and shipping delays. In fact, many retailers such as Amazon and Target announced their holiday deals much earlier than usual this year, having started in early October rather than late November. Leaving the majority of holiday shopping to Black Friday weekend could lead to many consumers being sorely disappointed with bare shelves, empty online shopping carts, and delayed deliveries.

With persistent challenges in procurement and the supply chain, 51风流surveyed 1,000 American adults to help better understand how they view the latest supply disruptions and their sentiment around the industry overall. Some interesting findings surfaced:

• Frustration is growing as holiday supply chain challenges loom.
  Almost half of consumers (49%) experienced longer ship times during the COVID-19 pandemic, and 42% expressed frustration with how companies are managing their supply chains. The majority of consumers (83%) also reported experiencing out-of-stock items during the pandemic. Patience is wearing thin, as nearly two-thirds (65%) think companies should have found solutions to supply chain challenges by now.
• Baby boomers have high expectations for gift availability and delivery while millennials and Generation Zers are more skeptical.
  Eighty-one percent of baby boomers expect holiday gifts to be available and in stock, compared to 75% of millennials and 60% from Gen Z. Furthermore, 78% of boomers expect gifts to arrive on time, while 63% of millennials and just over half of Gen Z respondents (54%) said the same. Overall, one-third of consumers are planning for the worst, expecting that gifts will not arrive in time for the holidays this year. Having the visibility in place to inform consumers of product availability and delivery timeline is crucial to avoiding disappointment this holiday season.
• Most consumers are forgiving of supply chain mishaps, but not right away.
  One in 10 consumers say that if a gift they purchase does not arrive on time for the holidays, they would never shop at that retailer again. Another 47% noted that they would not shop with that retail company again immediately, but that they may in the future. No matter how or why it happens, supply chain disruptions hurt brand loyalty among customers.
• Delivering gifts on time is not the only factor brands need to consider.
  Sustainability continues to play a bigger role in consumers鈥� buying decisions, even when it comes to holiday gifts. This is particularly true among younger consumers, as half of millennials said sustainability influences their gift purchasing decisions. Overall, 39% said they purchase from brands that tout sustainability, while 30% prioritize sustainable practices when making purchases, such as selecting slower shipping to combine packages and reduce waste. Brands can promote sustainability through their own procurement practices by ensuring the products and materials sourced are done so in a sustainable manner 鈥� from limiting carbon footprint to sourcing recycled/recyclable materials.

After last year鈥檚 chaotic holiday season that had more consumers buying online than ever before, proactive businesses and consumers are adapting their approach this season, especially with ongoing disruption anticipated this year.

For consumers, as of early October, almost a third (29%) had already changed at least one gift purchase based on supply chain shortages, and only 24% of total respondents expressed that they do not plan to shift their buying behaviors this holiday season. Almost half (45%) are buying earlier, and 44% are buying more online. Millennials are changing their plans the most, with 55% buying earlier than in previous years.

For businesses, agility and visibility are the name of the game. We have all experienced so much disruption from all angles recently, and there鈥檚 no going back to 鈥渘ormal鈥� as consumers 鈥� and businesses 鈥� continue to change buying behaviors.

Businesses need to broaden visibility not only across their own operations but across those of their trading partners as well, with the dual objectives of . To achieve this level of transparency, businesses are turning to to capture the widest possible view into the interconnected operations of their trading partners from buyers and suppliers to partners in logistics, finance, and contingent labor. Meanwhile, these digital networks 鈥� previously discrete according to function 鈥� are beginning to converge through cloud-based applications, unlocking exponential value in the process.

Consumers and businesses alike have been burned by supply chain issues and shortages during the pandemic, but with the right approach to this holiday season, we can still make it a merry one.

Etosha Thurman is chief marketing and solutions officer for Intelligent Spend and Business Network at SAP.