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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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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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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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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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10 CLM Platforms to Take Your Procurement Game to the Next Level

World of Procurement blog

Contract lifecycle management (CLM) software has become an invaluable tool for procurement teams looking to optimize their contracting processes. A dedicated CLM platform provides the automation, control, and analytics procurement teams need to maximize the value of contracts while minimizing risk.

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Let’s Get Digital: Introducing your Source-to-Pay Guide

ivalua

Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. ​ The Source-to-Pay process itself is quite broad but it covers most if not all the aspects of a procurement organization, at least from a process and technology perspective.

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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.