Amazon Business has released its report on the state of business purchases from Amazon Business (‘2024 State of Procurement Report‘), which explains that most purchasing teams expect their budgets to increase next year and many managers are conducting evaluations how to invest more in tools and technology to provide greater optimization and a more strategic approach to corporate purchasing.

This report highlights business (B2B) purchasing trends and global perspectives on purchasing needs, priorities and challenges. The report also includes opinions from public administration, financial services, healthcare, pharmaceuticals, pharmaceutical and manufacturing industries, as well as sectors such as hospitality, restaurants, retail, technology and telecommunications; as well as perspectives from buyers in Spain, the United States, France, Germany, Italy, Japan and the United Kingdom.

The document shows that more than half (53%) of those surveyed They expect their budget to increase in 2024. After a year focused on reducing costs associated with corporate purchasing, purchasing managers now plan to use the funds saved to invest in strategies that optimize their purchasing processes and enable them to operate more strategically, with purchasing efficiency and complexity as the main challenges they face today. . Among those surveyed, 98% said they plan to invest in data analytics, automation, and artificial intelligence (AI) tools in the coming years.

«We enter a a new era of smart business purchasingwhere managers understand the impact purchasing management has on the overall efficiency and success of the company“, said Alexandre Gagnon, vice president of Amazon Business Worldwide.

«At Amazon Business we grow scalable solutions for customers and we solve your biggest purchasing challenges, and I’m very excited about the evolution of the enterprise purchasing space. Looking to 2024, the procurement function is now cross-functional, spanning both operational and strategic areas, as buyers plan to invest more in technology and optimization while preparing their companies and organizations for the future. Ultimately, corporate purchasing not only keeps operations running, but also plays a critical role in achieving an organization’s key goals, and with a smart purchasing process, companies have a supply solution that serves as a driver for their growth.he added.

As purchasing expands within companies and organizations, managers are forced to seek it out ways to optimize your processes to dedicate more time and resources to your strategic challenges.

The report also revealed this 95% of those responsible realize that there is still room for purchasing optimization; 85% of those surveyed said that the difficulty of sourcing from suppliers that follow sustainable practices makes it difficult for their companies to set or achieve strategic sustainability goals in their purchasing, and 81% of those surveyed have an obligation to purchase from certified sellers, which can includes businesses that are sustainable, local, or owned by disadvantaged groups.

Moreover, among those who do not have this obligation, 40% continue to consider supplier environmental, social and governance factors. Although there is a desire to make responsible purchases (85%), difficulties in finding sustainable suppliers hinder sustainability goals.