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The AI Advantage: Unlocking New Value for Procurement Teams

World of Procurement blog

The Promise of AI for Procurement Teams Artificial intelligence (AI) has the potential to transform and revolutionize procurement processes. One of the biggest challenges in procurement has been gaining visibility into exactly where money is being spent across the organization.

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4 smart technologies modernizing sourcing strategy

IBM Supply Chain Blog

This helps reduce errors to improve data quality and response times to questions, which improves customer and supplier satisfaction. With cognitive intelligence in their toolbelts, sourcing teams can better understand and act on changes in the increasingly complex supplier market—as they happen.

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Zivio: Vendor Analysis, 2023 Update — Services sourcing solution overview, competitors, tech selection tips, analyst summary

Spend Matters

At the same time, the importance and criticality of services spend for organizations hasn’t shrunk (on the contrary …) nor the need to address typical challenges and hurdles inherent to complex service categories: inefficient processes, lack of control and low spend visibility.

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Leveling up from tools to systems: A holistic approach to third-party management

Spend Matters

Working within a resilient global supply chain results in complexities around basic matters like communication, time zones and languages, along with more challenging aspects like risk management, compliance and sustainability. That added benefit helps procurement meet its tactical metrics and stay aligned with overarching strategic goals.

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Procurement Technology: 6 Solutions You Should Know In 2024

Pipefy

Improvements to existing procurement processes, procedures, and operations are as time-sensitive as ever. In the 2024 State of Procurement Data Report by Amazon Business, 95% of decision-makers surveyed acknowledge that there’s room for procurement optimization.

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Supplier Order Management Software – Everything You Should Know

Procurement Tactics

This integration enables businesses to have real-time visibility into order status, inventory levels, and supplier performance, enabling them to make informed decisions and respond quickly to changing market demands. This automation saves time and effort, making the procurement process more efficient.

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Product Overview: How to Repair A Broken Procure-to-Pay Processes With Pipefy

Pipefy

This gives teams more visibility and control by providing a central hub for all purchases, payments, and other information. Better visibility improves alignment between buyers, legal teams, and accounts payable. Pipefy also makes it easy for procurement teams to standardize and structure their processes and workflows.