Procurement is no longer just a function to cut costs. It has evolved into a strategic, technology-driven role that can drive real organizational value. Our 2024 State of Procurement Survey takes a comprehensive look at how procurement teams across public agencies and private organizations are adapting to this shift. The findings reveal that procurement professionals are increasingly focused on technology adoption, process optimization, and strategic alignment with organizational goals.
Here, we take a high-level look at the survey's key findings, getting a glimpse into the trends, challenges, and opportunities shaping the future of procurement. Download the full 2024 State of Procurement White Paper for a deep dive into the data and insights you need to keep your team ahead of the curve.
Key Findings
KEY FINDING #1
An Experienced Workforce Meets Digital Transformation
Procurement teams are highly experienced – more than 65% of professionals are 46 or older. This deep knowledge base is a strength, but it also presents a challenge as the industry shifts toward digital transformation. The survey found that even seasoned professionals are feeling the pressure to adapt to new technologies and data-driven processes. To stay competitive, these professionals need ongoing training to keep pace with technological advancements.
KEY FINDING #2
Budget Size Drives Strategy and Technology Adoption
One of the clearest trends in this year’s survey is how an organization's budget impacts its procurement strategy, especially in automation. Larger agencies with budgets over $50 million lead the way in adopting procurement automation, with half reporting they use eProcurement tools. Meanwhile, agencies with smaller budgets struggle with resource constraints, making it challenging to move away from manual processes. For smaller agencies, implementing scalable and low-maintenance automation solutions could be transformative.
KEY FINDING #3
Efficiency is the Top Priority Across All Teams
Across agencies of all sizes, efficiency is the main goal. About 78% of procurement professionals say they are under pressure to streamline processes, reduce errors, and deliver results faster. To achieve this, many teams are turning to eProcurement software and other automation tools to eliminate repetitive tasks and improve vendor communication. These tools enable faster decision-making, better data insights, and more competitive bids.
KEY FINDING #4
Technology Adoption Gaps Remain
Despite adoption of eProcurement tools by 77% of respondents, a significant technology gap still exists. Less than half of agencies say their procurement technology is fully integrated into their workflows, which limits the potential benefits of automation, including cost savings, compliance, and data-driven decision-making. Resistance to change, lack of skilled personnel, and insufficient training are some commonly cited barriers to full integration.
KEY FINDING #5
The Evolving Role of Procurement: From Cost-Saver to Strategic Partner
Today’s procurement leaders aren’t just focused on cost savings – they’re aligning their work with broader organizational goals. Over 62% of survey respondents see procurement becoming a more strategic function, with increased emphasis on technology and sustainability. Larger agencies, in particular, are focusing on risk management and environmental impact as part of their procurement strategy, reflecting the industry's shift toward long-term value creation.
KEY FINDING #6
Preparing for the Future: Training and Education are Essential
As procurement becomes increasingly technology-driven, the need for training and continually improving skills has never been more apparent. A staggering 71% of respondents identified user training as a key challenge in adopting new technologies. Continuous learning and professional development are essential to equip procurement teams with the skills they need to manage complex systems, analyze data, and drive innovation.
Conclusion
The 2024 State of Procurement Survey paints a picture of an industry in transformation. Procurement is evolving from a back-office function to a central player in achieving organizational goals, driven by technology, efficiency, and strategic alignment. But challenges remain, and procurement professionals must act now to ensure they’re prepared for the future.
Want to stay ahead in this rapidly evolving landscape?
Download the full 2024 State of Procurement White Paper to dive deeper into the trends and insights and get practical steps for success. Whether you're looking to improve efficiency, integrate technology, or position procurement as a strategic partner, this report provides the data and recommendations to help your team thrive in the years ahead.
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