The business world is changing. And so are the people within it. The next wave of Finance and Procurement professionals will come from the generation known as the Millennials: digital natives for whom social, mobile, and cloud technologies, and the philosophies they create, are bound into the very fibers of their lives. But what does this mean for those organizations employing and selling to them? Take a look at this infographic to get a picture of what it takes to prepare for the Millennials. And download the webinar replay featuring SAP Cloud CMO Tim Minahan and Outsource Magazine Editor Jamie Liddell here: http://www.ariba.com/resources/library/preparing-for-the-millennials-the-future-of-finance-and-procurement

1. THE FUTURE OF FINANCE AND PROCUREMENT:
A CHANGING WORKFORCE A CHANGING WORKPLACE
LOOK TO THEMILLENNIAL GENERATION
TO FILL THE RANKS.
BORN 1980-2000, THEY COMPRISE A
GROWING PERCENTAGE OF THE WORKFORCE:
HERE’S WHAT SETS THEM APART:
47%
THEY’RE EDUCATED DIGITAL NATIVES WHO HAVE BEEN
IMMERSED IN TECHNOLOGY THEIR ENTIRE LIVES.
IN 2014
70%
OWN A SMARTPHONE
75%
25%
HAVE A TABLET
75%
52%
USE SOCIAL MEDIA
BY 2025
HAVE OVER 300 FACEBOOK FRIENDS.
THE TOP 10% HAVE OVER 1,000
91%
PUBLICIZE THEIR FACEBOOK PLACES
AND FOURSQUARE CHECK-INS
“WIRELESS,” WITH A PENCHANT
FORKNOW WHAT WORK LIFE SHOULD LOOK LIKE:,
SHARING INFORMATION
THEY
81%
37%
WANT CONTROL OVER
WOULD TRADE SOME
THEIR WORK SCHEDULES PAY FOR FLEXIBILITY
IN WORK SCHEDULE
AND LOCATION
88%
WANT WORK TO BE
FUN AND SOCIAL
COMFORTABLE WITH ADVANCES
IN BUSINESS AND PROCESS TECHNOLOGIES,
71%
WOULD LIKE TO WORK ABROAD
67%
THEY VALUE STREAMLINED EFFICIENCY.
67%
76%
A MAJORITY BELIEVE THESE TOOLS WILL BECOME MORE
TABLET COMPUTING CLOUD COMPUTING VIRTUAL MEETING ROOMS
IMPORTANT OVER THE NEXT FIVE TO 10 YEARS:
BOTTOM LINE: TO APPEAL TO MILLENNIALS FINANCE AND PROCUREMENT ORGANIZATIONS
NEED TO EVOLVE, “GET WITH IT.” MORE STREAMLINED, EFFICIENT, AND AGILE. THAT MEANS:
NO PAPER, NO FAXES, AUTOMATED, NOT MANUAL, REAL-TIME INFORMATION, CROWDSOURCING
MICROTASKING, REAL-TIME COLLABORATION, NETWORK ANALYTICS AND RATINGS
SOME STRANGE VOCABULARY?
DON’T WORRY, THE NEXT MILLENNIAL
75%
AND THEY VALUE GUIDANCE, TOO:
WOULD LIKE TO HAVE MENTORS
YOU HIRE CAN PROVIDE SOME REVERSE MENTORING.
TOGETHER, WITH YOUR EXPERIENCE
THEIR TECH-SAVVY VIEW OF THE WORLD,
YOU CAN CREATE A MORE NETWORKED ENTERPRISE.
“NETWORKED ENTERPRISES WERE
50% MORE LIKELY THAN THEIR PEERS TO HAVE … INCREASED SALES … 24%
INCREASED REVENUE
… HIGHER PROFIT MARGINS … 8%
HIGHER MARGINS
… GAIN MARKET SHARE …
43%
GREATER MARKET SHARE
…AND BE A MARKET LEADER.”
ARE YOU READY FOR THIS OPPORTUNITY?
LEARN MORE:
PREPARING FOR
THE MILLENNIALS
THE FUTURE OF FINANCE AND PROCUREMENT
A RECORDED WEBINAR WITH OUTSOURCE MAGAZINE AND ARIBA, AN SAP COMPANY
DOWNLOAD IT TODAY
SOURCES
Scarborough Research, Getting Inside the Millennial Mind (Infographic)
PGI, When It Comes to Business, Does Father Still Know Best? (Infographic)
UNC Kenan-Flager Business School, Maximizing Millennials: The Who, How, and Why of Managing Gen Y (Infographic)
Pew Internet and American Life Project, The Millennials: Best.Generation.Ever (Infographic)
Deloitte Consulting, “Who are the Millennials?”
McKinsey on Business Technology, Spring 2011 – “The Rise of the Networked Enterprise”