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.