A recent survey of procurement leaders in financial services and insurance reveals widespread challenges: 40% report inconsistent results, 71% face budget constraints, and only 32% have robust risk assessment practices. Key strategic priorities include operational efficiency (68%), value creation (62%), and cost optimization (52%). Looking ahead, leaders see high potential in AI, with 60% citing workflow automation as a game changer, 50% identifying AI’s impact on requisitioning and POs, and 42% expecting transformation in contract automation. Workday supports this shift with real-time data and AI tools like Workday Illuminate™ to enhance collaboration, efficiency, and growth.

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