Procurement trends that are shaping 2023

Procurement trends: that are shaping 2023

As businesses and consumers demand greater accountability and sustainability, procurement trends are evolving at breakneck speed. With the global procurement management market projected to reach $18.73 billion by 2025, according to Statista, businesses must stay ahead of the game to remain competitive. BUT FEAR NOT! This procurement guide will let you dive into the latest Procurement trends. Get ready to unlock the power of Procurement in 2023 and take your business to new heights with DocShipper Sourcing and their sourcing service, offering comprehensive and customized solutions that optimize supply chain efficiency and cost-effectiveness!

Key procurement trends shaping 2023

Procurement, the process of sourcing and acquiring goods and services, is a critical function for any organization, that directly impacts a company's bottom line. In today's competitive market, procurement teams must strive for greater transparency, adaptability, and human capacity to remain relevant. To prepare compelling marketing content that resonates with procurement professionals, it's essential to highlight the importance of procurement and its impact on having achieved an organization. In this marketing content, we will explore the latest procurement trends, to help you stay ahead of the game.

DocShipper Advice: Dive into the future of procurement with DocShipper! Stay ahead of the game in this rapidly evolving landscape. With businesses and consumers demanding greater accountability and sustainability, it’s time to unlock the power of procurement in 2023. Don’t miss out! Get expert assistance from DocShipper and update your sourcing strategies today. Explore our sourcing services and for more information, contact us!

Better standards for better order matching

First let me introduce you the Triple matching, also known as three-factor matching, which is a method used in procurement and sourcing to assess potential vendors. It involves evaluating vendors based on three key factors:

  • Quality
  • Price
  • Delivery

By considering these factors, businesses can make informed procurement decisions, minimizing the risks associated with quality issues, high prices, and delivery delays, while optimizing vendor relationships. Triple matching is a procurement trend that ensures effective sourcing and vendor selection.

Standard quality

Nevertheless, the triple matching approach serves as a stepping stone towards an enhanced process than its ultimate culmination. Currently, the companies strive to establish increased match criteria by increasing the number of data points throughout the entire supply chain journeyMatching in five ways automatically is set to become the norm for advanced accounting techniques.


Let's delve into the concept of automatically matching five ways in a marketing-friendly manner, detailing the five key points :

  • Purchase Order (PO): The buyer's initial document for purchasing goods, specifying items, quantities, and prices. Used as a reference in automated five-way matching.
  • Goods Receipt: Buyer confirms goods' compliance with purchase order specifications upon delivery, ensuring alignment with expectations.
  • Supplier Invoice: The supplier generates an invoice with item details, prices, and payment terms. In automated five-way matching, the invoice is compared to the purchase order for data consistency.
  • Payment Confirmation: Buyer sends payment confirmation to the supplier after completing payment. Cross-checked with an invoice for accurate payment amounts.
  • Integration into the Accounting Ledger: Information from the preceding steps is integrated into the company's accounting ledger for transaction traceability, account management, and accurate financial reports.

Five-way matching automatically, offers a more robust and efficient approach to managing commercial transactions, reducing the risks of errors and disagreements. It enhances transparency and instills greater trust in the company's accounting practices, benefiting both buyers and suppliers.

The sixth game, which makes it simple to distribute funds over time, enables finance professionals to more effectively control the financial flow.

Vendor Terms Squeeze Amid Economic Shifts 

Over the past two years, vendors and suppliers had the capability of providing longer repayment periods to their customers. This was made possible due to reduced interest rates, strong financial resources, and lenders' hefty credit limits. As a result, even low-risk customers could enjoy payment terms of up to 60 days without incurring excessive danger or cost. 

Vendors terms

However, the economic landscape at the beginning of 2023 is significantly different. Increasing interest rates, inflationary pressures, with the impending recession have compelled suppliers should tighten up finances and enhance risk management. 

Consequently, there has been a shift in procurement trends, particularly in sourcing and vendor selection. The tightening financial conditions have led to reduced flexibility in extending prolonged payment terms. As a result, some stakeholders are now compelled to accept shorter repayment conditions or look for more flexible deals with suppliers to meet their needs. 

Empowering procurement with flexible payments 

The growing prominence of “pay your way” or “pay your way” is a notable trend in procurement practices. In recent years, some companies have gained traction by offering flexible payment options to consumers. These options allow buyers to make purchases and pay over an extended period, often with neither nor low-interest rates. 

Payment flexibility

This flexible payment model, initially popularized for consumers, is now expanding into the realm of procurement within businesses. Established procurement platforms are beginning to incorporate “pay your way” alternatives tailored to the needs of finance departments. This enables organizations to prepare and modify their spending according to their procurement goals, optimize cash flow utilization, and accommodate unforeseen expenses.

Traditional methods of contingency planning, such as locking up money in savings, relying on lines of give credit, or resorting to short-term loans for hefty or unexpected purchase needs, can be costly and time-consuming. By integrating “pay your way” options into procurement platforms, businesses can enjoy the same flexibility as consumers, while avoiding the expenses and delays associated with traditional approaches. 

The adoption of this flexible payment model also benefits vendors. They can provide a longer payment period without incurring excessive costs or risks. This allows them to attract more buyers and facilitate the realization of their customers' organizational objectives. 

Optimizing procurement through organizational alignment

Complete organizational alignment with expenses involves a strategic approach adopted by companies to optimize their procurement processes and effectively control their expenses. This approach recognizes that coordination and communication regarding expenses need to extend throughout the entire organization, beyond the C-level in addition to directors.

Strategic sourcing

One of the initial steps toward achieving this alignment is to establish consistent and transparent documentation regarding expenses and financial restrictions. This helps define rules and guidelines for all members of the organization, ensuring that everyone understands the expense policies and adheres to them. It is essential to align critical functions within the organization with expenses. 

Consistent communication also plays a crucial role in complete organizational alignment with expenses. Information needs to flow effectively within the command structure, enabling timely and efficient addressing of opportunities and difficulties related to the outcome of the procurement procedure, or its outcomes. Open communication promotes collaboration and allows for quicker problem resolution. Companies seeking to align their organization with expenses should adopt practices and technological innovations that sound expense justification, supplier connections, supply chain management, and due diligence. This may involve using digital procurement solutions that automate processes, collect and analyze data, and optimize expense decision-making.

Complete organizational alignment with expenses enables companies to react to demands efficiently and achieve purchases with greater visibility. It also facilitates the use of advanced procurement strategies including sustainable procurement, supplier performance monitoring, and strategic sourcing. These approaches optimize supplier relationships, reduce costs, improve sustainability, and achieve better overall procurement outcomes.

Investing in workforce and technology to get better results 

To enhance financial management and procurement strategy flows, it's time to change the debate between people and software. Savvy procurement professionals utilize procurement technology that enhances corporate operations to uncover methods to better their staff.

workforce and technologyIntegrating your data into an automated and organized structure facilitates work that only humans can perform. It enables finance and accounting teams to make quick and confident decisions, informed by access to centralized data analytics.

The contextualization of vast amounts of data is only possible with the help of software. Companies may bring everything together, and data aggregation from a dozen systems could be required, combining these various data sources with technology to create a single source of truth allows you to see your entire procurement organization holistically.

A marketplace that simultaneously connects companies with suppliers, financial partners, and other stakeholders may not only establish a single source of truth for all of your expenditure data, but can also predict and refine things like what you purchase, how you purchase, and how you pay over time.

DocShipper Alert: Explore the power of efficient procurement and vendor selection with DocShipper's expert sourcing service. From supplier search to negotiation, we streamline your processes, minimizing risks and maximizing vendor relationships. As the procurement landscape evolves, our flexible payment options and organizational alignment strategies empower your business. Get started with DocShipper today! Investigate our offerings and don't be afraid to contact us for more details.

Attain procurement success through centralization and automation

Important steps like data centralization and process automation are needed to set up your company for success in 2023's procurement market. These components make it possible for organizations to efficiently adjust to market developments. A platform for procurement like DocShipper provides real-time data, features, and flexibility for data-driven decision-making while minimizing manual administration of procurement tasks.

Data centralization unifies all information pertaining to purchases into a single system, giving users a complete picture of the whole procurement process. This makes it easier to make strategic decisions and reveals changes for process and cost improvement. By eliminating manual and repetitive processes, process automation in procurement gives employees more time to devote to higher-value work.

To guarantee adherence to written policies, approval, and role-based purchase instructions are essential.  As a result, the dangers of making non-compliant purchases are reduced, and strict spending management is maintained.

Over the next two years, 57% of surveyed business professionals at companies organizations plan to build automation that focus on improving the customer experience. 

DocShipper Info: Discover procurement success with DocShipper's centralized and automated solution. Gain real-time data insights and make informed decisions effortlessly. Simplify your procurement process, eliminate manual tasks, and focus on high-value work. Ensure policy compliance and maintain strict spending control. Choose DocShipper for efficient procurement management in 2023 and beyond! Investigate our blog and don't be afraid to contact us for more details. 


In 2023, the procurement landscape is marked by key trends. Automated five-way matching is revolutionizing the process, ensuring accuracy, transparency, and efficiency. Economic shifts tighten vendor conditions, impacting terms and payment flexibility. Aligning expenses and investments in workforce and technology is vital for optimizing outcomes. Centralizing data and embracing automation enable businesses to succeed in procurement, adapt to changes, and drive growth and sustainability. Need help with your sourcing process? DocShipper Sourcing is there for you, contact us!

DocShipper Advise : We help you with the entire sourcing process so don't hesitate to contact us if you have any questions!

  • Having trouble finding the appropriate product? Enjoy our sourcing services, we directly find the right suppliers for you!
  • You don't trust your supplier? Ask our experts to do quality control to guarantee the condition of your goods!
  • Do you need help with the logistics? Our international freight department supports you with door to door services!
  • You don't want to handle distribution? Our 3PL department will handle the storage, order fulfillment, and last-mile delivery!


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Communication is important, which is why we strive to discuss in the most suitable way for you!

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