The procurement world we and our clients operate in is an incredibly fast-changing market. Nowadays, dedication to invest (and keep investing) in digital is table stakes for all organizations. That’s why Everest Group’s Procurement Outsourcing (PO) – Service Provider Landscape with Services PEAK Matrix™ Assessment 2019 attaches so much relevance to providers’ commitments to developing and delivering next-generation digital services.
Published each year, Everest Group’s report evaluates providers against two key axes. “Market Impact” captures number of clients, revenues and value delivered to clients; “Vision & Capability” tracks providers’ vision for their clients and themselves, along with service scope, innovation and delivery footprint.
Providers are ranked against these criteria, with leaders appearing in the top-right quadrant. Everest Group also recognizes “Star Performers” – providers that demonstrate the most improvement over time on the PEAK Matrix.
In this year’s report, based on Everest Group’s analysis of 16 providers’ performance during 2018, Accenture ranks as a leader and Star Performer for Market Impact and Vision & Capability (see below).
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Everest Group PEAK Matrix
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But what does it all mean for our clients? Let’s take a closer look, starting with Market Impact. This measure takes value delivered into account (based on customer feedback and transformational impact).
It also factors in the diversity of clients. This demonstrates how more organizations of all kinds are seeking procurement transformation and benefiting from their source-to-pay investments. In other words, if you’re just now setting out on this journey, you’re not alone. Plenty of others have done so already.
Vision & Capability, the horizontal axis, underlines the strength and depth of the leaders’ service portfolios, along with their global resources. It also assesses investments in innovation.
For our clients, this shows that – however unique their transformation agendas may be – there’s a single guiding objective for us: harnessing digital to help each of them create and operate a more intelligent procurement function.
Accenture’s procurement vision is about helping clients move towards the end-to-end digital transformation journey of source-to-pay. That is why we recently launched SynOps, an innovative human-machine operating engine that optimizes people, technology, data and intelligence, to help clients achieve business results that were previously unimaginable. A key part of SynOps includes our digital advancements, such as Alma, our new procurement superstar, a digital agent specifically developed for sourcing and procurement. Or, RadixOne, our single digital solution infuses market intelligence throughout each step of the process. And, we continue to invest and advance the use of applied intelligence with the Procurement Market Intelligence Advisor as one example.
There’s never been a better time to take advantage of digital technologies. It’s the focus for this year’s Accenture Technology Vision 2019: now that every business is becoming a digital business, organizations have an outstanding opportunity to build on their investments by harnessing the new wave of emerging technologies to differentiate their operations in new ways.
It’s a theme that permeates all five trends in the Technology Vision. Take Human+ Worker. This explores the amazing things people can achieve when they’re empowered by a new set of technological capabilities. We continue to operate and advance our vision for procurement to assist our people and our clients to do strategic work that matters.
That’s a quick perspective on the Everest report. For procurement leaders, it provides a valuable third-party objective view of a market that’s moving so fast it can be hard to keep track.
It’s well worth reading. Whatever stage your procurement organization has reached on its transformation journey, it’s a great way to validate your thinking and maybe set a few new strategic priorities. I’m interested to hear your thoughts, so reach out via email or LinkedIn.