With an acceleration of progress in procurement tech it is crucial sourcing leaders stay on top of advancements . But what role does industry play in offering clarity ?

WRITTEN BY : NIEL PERRY

“ If organisations aren ’ t able to reap the benefits of emerging technologies , they stand to fall behind their competitors ,”

warns Alex Saric , Smart Procurement Expert at Ivalua . “ They won ’ t be able to leverage the same supply chain insights and make informed decisions .”

This is a simple warning for procurement leaders seeking competitive advantage over competitors , whatever the industry .

The rapid advancement in procurement technology mean it ’ s important to cut through the hype-cycle of product offerings , and understand how solutions can enhance sourcing strategy .

Rapid progress in procurement technology Saric says procurement tech is having a significant impact , both on product development and also the relationships suppliers have with companies . “ Bestin-class chief procurement officers place technology at the core of their strategy to mitigate the impact of supply chain risks like shortages ,” says Saric .

He adds : “ They use it also to identify opportunities to collaborate with suppliers on innovative new products , and also to

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