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This guide breaks down the key procurement technologies in use today and the trends reshaping the future, such as AI-driven sourcing, predictive riskmanagement, and deeper integration across the supply chain. This end-to-end integration helps organizations reduce risk, boost efficiency, and make more strategic, data-driven decisions.
Enterprise procurement teams face growing pressure to deliver strategic value – managing supplier risk, ensuring compliance, and supporting sustainability – all without sacrificing speed or control. Key Takeaways Legacy procurement processes limit scale, speed, and visibility, making it harder to managerisk, compliance, and costs.
is a leading AI-powered platform specializing in third-party riskmanagement, compliance, and supplier lifecycle automation. Leadership Founder & CEO: Jag Lamba, former McKinsey consultant, leads the company with a focus on operational agility, riskmanagement, and AI innovation. Everything about Certa.ai
Fit Score Link : This translates into high Fit Score alignment in areas like cross-functional collaboration, tech interoperability, and strategic sourcing visibility. SAP-based ERP systems) and operational needs, such as streamlined sourcing or supplier management. supply chain bottlenecks) while maintaining enterprise-wide visibility.
Breaks down data silos, enabling holistic visibility and collaboration. Strategic Impact: End-to-End Transformation vs. Tactical Efficiency Metaprise : Transforms procurement into a strategic, revenue-driving function by aligning sourcing, riskmanagement, and supplier innovation across the ecosystem.
Procurement needs to think AI-first in 2024 and beyond The generative AI wave of 2023 truly brought us into the AI economy, with companies realizing how advances in AI have the potential to transform key processes and workflows that underpin how they operate and generate value.
In 2024, the logistics and supply chain industry will continue its transformative journey, driven by technological advancements and growing consumer expectations. Ignoring industry trends poses the risk of being left behind by more agile competitors. Let’s see the most common trends in 2024. And we know that numbers don’t lie.
Contract Lifecycle Management Evisort , which was once a promising contract analytics upstart looking to disrupt the market with its strong AI and post-signature capabilities, has evolved into a well-rounded, end-to-end CLM provider that can compete for both mid-market and large enterprise customers.
04.04] How the pandemic exposed vulnerabilities in supply chains worldwide, bringing the topic of risk to the fore; and the most significant lessons we learned. “No-one You’ve got to have a riskmanagement plan, but if you don’t test it, how do you know it works?” 39.03] The risks we can all expect to see in 2024.
The Pressures That Procurement Faces In 2024. The 5% increase in the OFGEM energy bills cap could push inflation up further when January 2024’s figures are published in February. Procurement leaders can lead functions to mitigate issues through: Identifying vulnerabilities with a full 360 risk assessment and enhanced transparency.
In the 2024 State of Procurement Data Report by Amazon Business, 95% of decision-makers surveyed acknowledge that there’s room for procurement optimization. Learn about six solutions that can be applied in 2024, why you should apply them, and how to get started. Compliance and riskmanagement tools can solve these problems and more.
The 5% increase in the OFGEM energy bills cap could push inflation up further when January 2024’s figures are published in February. Procurement leaders can lead functions to mitigate issues through: Identifying vulnerabilities with a full 360 risk assessment and enhanced transparency. in November 2023 to 4% in December.
Enhanced Efficiency and Visibility: By adopting process orchestration tools and platforms, businesses gain real-time insights and control over their procurement activities, facilitating quicker decision-making and improved riskmanagement. What is procurement intake?
Supplier collaboration serves as the foundation for supply continuity, agility, riskmanagement, and resilience when disruptions occur. Named to Procurement Magazine’s Top 10: SRM Platforms list in 2024, JAGGAER is is committed to helping our clients drive competitive advantage through improved supplier collaboration.
The benefits include cost savings increase, better decision making and riskmanagement. In detail, main benefits of smart procurement range from better use of employee time to greater cost savings and riskmanagement. What is smart procurement? But the benefits of smart procurement go far beyond.
Sunbelt selected the world-class spend management solution provider Coupa Software, choosing to implement the full suite of Coupa products to satisfy a variety of use cases across procurement, invoice automation, inventory, riskmanagement and sourcing. A 30% resource reduction on transactional activity on Purchase Orders.
Since opening its London office in 2024, the company has expanded rapidly across the region growing its employee base by 400% and doubling its EMEA customer base within a single year. The focus then shifted to how procurement teams can move beyond siloed and reactive riskmanagement toward building embedded resilience.
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