It’s no surprise that technology in recent times has been the biggest talking point in procurement. From being an enabler to becoming a key driver of procurement’s strategic transformation ― technology is enabling procurement to demonstrate its true value within the enterprise. With technology, procurement will no longer be just a purchasing/sourcing function, but instead transform into an innovator, integrator and collaborator, impacting the enterprise in myriad ways and driving overall performance and competitiveness.
New and emerging technologies such as blockchain, robotic process automation (RPA), artificial intelligence (AI) and big data can help procurement find new growth avenues and in the process drive greater spend visibility, increase compliance, enhance accuracy and achieve significant cost savings, among others.
But as digital procurement and procurement transformation gain momentum, CPOs must identify and implement the right technology that will bring the desired value.
Embracing Emerging Technologies the Right Way With GEP
As a leading global provider of end-to-end procurement solutions and makers of the world’s first unified source-to-pay platform ― SMART by GEP ― GEP understands the role emerging technologies will play in taking procurement performance to the next level. Accordingly, we help clients plan their procurement transformation journey and leverage innovative technologies such as AI, RPA and big data to optimize end-to-end procurement.
Factors Shaping Procurement Technology
You May Also Want to Read:
- Digital Procurement Transformation 101 – Technology: Embracing Innovation and Disruption to Achieve Step Change
In this report, procurement experts explore the impact that new technologies are currently having on how procurement gets done and how its role has evolved. Read More
- The Internet of Things: Reimagining Procurement in the New Digital Ecosystem
This concise, engaging guide lays it all out for time-pressed procurement pros: how IoT works, how its impact is being felt in various commercial enterprises, and – perhaps most importantly – what you need to do now to unlock IoT’s imminent potential. Read More
- Technology as a Driver for Procurement
This paper details how the most competitive procurement teams are deploying cutting-edge procurement technology to improve their strategic reach and impact on the enterprise. Read More