![]() Since procurement benefits from scale, it is imperative to aggregate spend at all levels, however it is equally difficult to consolidate spend through harmonization and standardization due to the complex landscape and continuous evolving nature of business. As companies grow and evolve, they add more systems through mergers and acquisitions and slowly it becomes a very difficult challenge to maintain all the systems and processes in order. Majority of the fortune 500 companies have varied and complex IT landscape with multiple systems and business processes. ![]() There is no additional hardware required to install central procurement, but additional license is required. central procurement is one of the most awaited release from SAP within the sourcing and procurement landscape. It sits within the SAP S/4 HANA system for both cloud and on-premise version. SAP central procurement is a relatively new product from SAP. ![]() With SRM no longer in the future road map and with the advent of Ariba as the choice for collaboration with external stakeholders, central procurement will not only fill up the void left by SRM but also provide numerous advantages. One major advantage of SRM was its ability to be used as a procurement hub and connect multiple disjointed back-end systems. With SAP’s strategic direction towards cloud-based enablement and planned decommissioning of SRM by 2025, central procurement is poised to play a major role in the future of procurement processes. ![]() There is a lot of hype lately on central procurement.
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