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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 risk management, and deeper integration across the supplychain. Your procurement technology platform should help unify data and processes across tiers to avoid disruptions.
Understanding these differences is essential for businesses that want to optimize operational efficiency and safeguard against costly errors. Key Takeaways Procurement vs Purchasing: Procurement is a strategic function focused on long-term value, while purchasing handles the tactical execution of buying. What is Procurement?
Enterprise procurement teams face growing pressure to deliver strategic value – managing supplier risk, ensuring compliance, and supporting sustainability – all without sacrificing speed or control. This blog explores the most common challenges in digital procurement and the capabilities that matter most.
Spend Matters honors a vast array of procurementsolution providers each year by selecting them for our ‘50 to Know,’ ‘50 to Watch,’ ‘Future 5’ and ‘Hall of Fame’ celebration lists. Unlike many ProcureTech companies, True ValueHub was founded and is run by procurement and supplychain industry practitioners.
As Procurement teams are tasked to do more with less in an increasingly complex and uncertain market, digitization has become a must. Procurement leaders have increasingly turned to Spend and Supplier Management platforms to improve decision-making, efficiency and collaboration. These results are more than just statistics.
REV Group embarked on its sourcing and procurement transformation earlier this year, which included four appointments to REV’s global sourcing and supplychain team, representing the Fire & Emergency, Commercial and Recreation segments. Benefits include: Shortened sourcing cycle times.
Healthcare supplychain GPO, Intalere, deploys an end-to-end Source to Contract solution across its purchasing functions. New York, NY March 30, 2020 – Consus , a leading procurement services provider, today announced that Intalere , a healthcare supplychain GPO based in St. About Ivalua.
Metrics such as reducing supplier numbers, increasing digital contract usage and enhancing sourcingefficiency are common priorities. By integrating these technologies, organizations unlock efficiencies, enhance decision making and create more agile, connected supplychains, ultimately boosting their ROI.
Consus and Ivalua implemented and went live with the solution for Pacific Drilling in just two weeks. Pacific Drilling requires a fast, efficient and automated sourcing process to support the company’s Purchasing processes. We look forward to contributing to their Procurement cost optimization initiative”.
Healthcare supplychain GPO, Intalere, deploys an end-to-end Source to Contract solution across its purchasing functions. New York, NY March 30, 2020 – Consus , a leading procurement services provider, today announced that Intalere, a healthcare supplychain GPO based in St. About Ivalua.
Spend Matters honors a vast array of procurementsolution providers each year by selecting them for our ‘50 to Know,’ ‘50 to Watch,’ ‘Future 5’ and ‘Hall of Fame’ celebration lists. Expanded data integration – “Halo Ai will broaden its data sources to include industry-specific feeds, regulatory databases and proprietary partnerships.
Optimization of the entire source-to-pay process for nearly all Körber locations worldwide. As an international technology group with about 10,000 employees, Körber offers products, solutions and services that inspire. The goal was to increase efficiency across the Group’s Business Areas.
Advanced technologies such as AI, automation, and predictive analytics are playing a pivotal role in optimizing procurement processes, enhancing transparency, and driving efficiency. But what does the future hold for public procurement, and how can technology fine-tune the process to perfection?
2025 Vision: Transforming Indias Procurement Landscape Indias dynamic economy and distinctive procurement landscape offer significant opportunities for growing businesses to scale strategically. Complex SupplyChains Indias vast supply networks span global and local partnerships, each with its own unique challenges.
Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data.
EDITOR’S NOTE: Chevron was IN NO WAY involved with the following assessment, although I think they will find it to be an interesting read because it leverages their known capabilities and aligns them with my prior research and discussions on procurementefficiency, Shared Services, and Hansens RAM principles.
The global supplychain is undergoing an incredible transformation that will change the way we do business. Today, organizations are looking to build supplychain resilience and maximize opportunities for growth as we pivot and prepare for unexpected global events. . Session REPLAY. Körber at a Glance…. Körber + Ivalua.
Today, for procurement organizations too, applying an AI-first approach has become imperative, especially in the source-to-pay process. The era of intelligent procurement We expect 2024 to be the year of intelligent procurement, driven by AI, automation and data analytics.
Consus and Ivalua implemented and went live with the solution for Pacific Drilling in just two weeks. Pacific Drilling requires a fast, efficient and automated sourcing process to support the company’s Purchasing processes. We look forward to contributing to their Procurement cost optimization initiative”.
Reference : JD Edwards Baan : Overview : The Baan Corporation offered ERP solutions with procurement components, focusing on manufacturing and project-based industries. Significance : Baan’s software emphasized integration across the supplychain, including procurement processes.
While full-scale digital transformation certainly takes time, organisations can see rapid improvements in efficiency, collaboration, and data accuracy right from the outset. By automating routine tasks, streamlining communication, and centralising information in one single source of truth, you create tangible quick wins.
Rapid Optimization of Contract Management, Supplier Management and Direct Materials Sourcing. This deployment is another significant step forward in the digital transformation of their overall supplychain processes, a journey that started last year with the successful rollout of Ivalua Sourcingsolution for direct materials. .
Redefining procurement in 2024: A quest from cost savings to strategic value creation Today, procurement leaders find themselves at a crossroads, torn between the age-old pursuit of cost savings and the imperative to infuse strategic value into their organizations.
In this article, we are going to explore what procurement tracking is, its importance in business and the tools to be used when conducting it for its efficient execution. Procurement Tracking is the process of monitoring and managing procurement activities. Procurement Tracking: Why is it Important?
Download Free Copy SupplyChain Disruptions in Schools: Challenges and Solutions Category Inventory Written by Keith Murphy 17 min read Tags Education Risk Management SupplyChain Management Last edited March 18, 2025 Download PDF KEY TAKEAWAYS Efficient school supplychains are critical for maintaining consistent educational services.
This is where AI can come into its own, allowing procurement to establish full price transparency and scrutinize vendor requests to determine whether price increases were overly inflated. Clients strive to position themselves as ‘customers of choice,’ a strategic move aimed at strengthening their supplychains.
The landscape of public sector procurement has undergone significant transformation in recent years, driven by advancements in technology, evolving regulatory frameworks, and an increasing emphasis on sustainability. Blockchain Technology: Blockchain ensures transparency, security, and traceability in procurement transactions.
Today Im joined by ProcurementIQ , a company whose talented team of analysts, editors, sales, client services, management and support members work hard to serve the specific needs of procurement departments every single day. Its making it much harder to plan and strategize for de-risking supplychains.
What does an E-Procurementsolution do? E-procurementsolutions use an electronic interface to automate, guide and approve the purchase and reception of products and services. from sourcing events), the ability to use external content as part of its catalogs (e.g.,
SRM is usually used by many supplychain professionals who constantly deal with suppliers in areas such as procurement, project management, and operations. . The SRM aims to ensure buying from reliable suppliers, bring end-to-end visibility of supplier collaboration workflow, and improve the resilience of the supplychain. .
This year, our analysts identified three solution providers that have proven their potential to be considered best-in-class, one of which is source-to-pay suite provider Onventis. During the decision-making process, our analysts concurred: “Onventis has been an actor of the digital transformation of procurement since the 2000s.
I believe that the scope of procurement will not contract back to a sole focus on supply stability and cost containment. The challenge facing procurement will be how to tackle all of this successfully. Salvatore Lombardo , SVP, Chief Product Officer, SAP Ariba ProcurementSolutions, SA.
Thuy Mauge is a Supply Services Manager for the Los Angeles Department of Water and Power (LADWP), the largest municipal utility in the United States, overseeing various procurement programs for SupplyChain Services (SCS) division. The post 2021 – AMER – Thuy Mauge appeared first on Ivalua.
Top 3 Procurement Technologies to Embrace in 2025 Staying ahead of key procurement technology and advancements is essential for CPOs who want to improve spend cost reduction, drive strategic value, and navigate the increasingly complex procurement landscape.
In no order of preference, other than by the date they arrived in our inbox, today let’s hear from: Donna Wilczek, EVP Strategy and Innovation at Coupa , spend management suite provider and one of Spend Matters 50 Procurement Providers to Know. using supplychain digital twins to optimize supplychain networks for carbon takeout).
Across diverse industries, enterprises should assess where AI can bring the most value and strategize its integration to truly enhance efficiency. For instance, within global supplychains — a realm ripe for improvement despite its current resilience — AI can be a game-changer, especially within the procurement function.
One of the standout trends within this paradigm shift is the focus on supplier collaboration in bolstering ESG practices across the supplychain. Enterprises are actively mapping supplychain links and dependencies, understanding that sustainable practices are only as strong as their weakest link.
But, with increased regulation around supplychain sustainability on the way, organizations must prioritize visibility into the environmental impact of their suppliers. Procurement will continue to face the challenge of swiftly navigating disruptions and adhering to ever-changing regulatory frameworks.
” (Source: CEIBS ) I use The following process to determine if I want to advise, work with, or mentor a particular ProcureTech solution provider. NOTE: The “ Green Giant ” can story and The Four Cornerstones for Leveraging Cost Transparency model resonated most with me. COMPETITORS 1. As a result, Ever.Ag
Tune in to learn how to confidently choose and implement the right procurement tech to drive efficiency and innovation in your organisation. He highlights how tailored tools like Workrise address unique challenges, ensuring companies avoid the pitfalls of generic solutions that fail to meet sector-specific needs.
How Procurement Professionals Use or Interact with Model Context Protocol (MCP) Procurement professionals interact with AI models that utilize Model Context Protocol (MCP) in various ways, especially within digital procurement platforms, supplier management systems, and spend analytics tools.
Neither oral nor text-based conversational AI (also known as conversational user experience [CUX] and conversational interfaces [CUI] the latter of which include chatbots) is by no means new, despite the relatively recent prolific uptake by procurementsolution vendors. This helps the system to respond more accurately to queries.
However, as supplychains have evolved into complex, global systems, the demands on procurement, and associated workload have increased significantly. Today’s procurement challenges go far beyond cost negotiations and sourcing. Arkestro introduces a templatized, embedded approach to sourcing events.
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