It’s been a challenging year for businesses everywhere, and the ability to quickly source and procure goods and supplies has been key to their resilience. In the blink of an eye, procurement teams across the globe pivoted to support remote operations and essential workforces, while managing unprecedented risks.
This year has also highlighted how procurement organizations equipped with agile, digitized sourcing technologies can be strategic powerhouses that drive business impact across their enterprises.
One year ago, Workday acquired Scout RFP, a best-in-class strategic sourcing solution. As we continue our journey toward a holistic offering for source-to-pay and overall spend management, Scout RFP is now Workday Strategic Sourcing, reflecting Workday’s commitment to continue elevating and transforming the office of procurement.
Workday Strategic Sourcing: Driving Enterprise-Wide Impact
Leading procurement teams are using technology to stay tightly aligned with the business and with suppliers from anywhere. In the last year, the over 300 global businesses that rely on Workday Strategic Sourcing have significantly increased the number of projects and contracts managed with our solution.
In conversations with our customers, we’ve heard many examples of the business impact procurement is driving, for example:
Immediate ROI. In a single reverse auction, a Chicago-based financial