Result: % of Procurement using Excel

Yesterday, I asked you to guess how many procurement teams are still running procurement on excel and email / the old-school-way. The shocking answer? 80%. That's right, 4 out of 5 teams are still pushing papers and crunching numbers like it's 1999. Let's chat about why this is nuts and what it means for all of us in the procurement game.

The Procurement Paradox

Look, I get it. Change is scary. We've all got our favorite Excel sheets and time-tested processes. But honestly - while we're clinging to our spreadsheets, the world is zooming ahead at light speed.

"I've seen strategic supplier relationships strained due to inefficient processes and lack of real-time data," shares Sarah (Head of Procurement) "Modernizing our procurement tech stack was a game-changer for our entire supply chain."

The Hidden Costs of Technological Lag

1. Time Drain: On average, procurement teams spend 30+ hours per week on manual processes (Source: McKinsey & Company Procurement Efficiency Report 2024).
2. Missed Opportunities: A Deloitte study found that digitally mature procurement organizations are 2.5x more likely to be viewed as strategic business partners.
3. Limited Visibility: "Without advanced procurement tools, it's like navigating a ship with a compass in the age of GPS," says Marcus (Procurement Director). "You're always a step behind in decision-making."

The Digital Procurement Dream

As the founder of Procol, I've seen firsthand how the right tech has transformed businesses.

While basic tools dominate, change is on the horizon.

Now, here's the exciting part. Companies that have taken the digital plunge are seeing some serious perks. We're talking upto 20% cost savings and 30% efficiency boost (Source: Aberdeen Group Digital Procurement Benchmark 2023).

But the benefits go beyond just numbers.

"Implementing a digital procurement platform improved our supplier collaboration, risk management, and most importantly, saved time." notes Vinod (Head of Procurement). "We're not just buying better; we're contributing more strategically to the business."

The Human Factor

Change isn't easy. Many procurement professionals have built their careers on existing systems and processes. But with advancements in technology, it is becoming 10 times easier to adopt procurement tools than it was even a few years ago. If you have a procurement problem, there's probably a vendor looking to solve that for you.

Your Turn

I want to hear from you:

What's the most significant barrier to digital transformation in your procurement function?

Share your thoughts in the comments below. Your experience could be the catalyst for change in the procurement community.