INTELLIGENT PROCUREMENT
“ To prevent being bogged down by the inefficiencies of disparate software and systems , intelligent procurement capabilities can integrate and automate all of these non-spend functions in a way that creates transparency and efficient workflows .”
The many benefits of Intelligent procurement Intelligent procurement solutions capture the causes of deviations between budgeted and actual spend , the decisions made and the outcomes of those decisions – in context and in real time . This technology reduces risk by helping procurement teams make informed decisions more quickly in the face of changing conditions .
Chaplain says : “ An ideal solution leverages data science as well as digital technologies to understand the business , recommend actions , predict outcomes and take action by writing back to source systems .
“ Technologies that leverage decision intelligence enable procurement teams to harness the data inside their enterprise systems across the business to predict deviations , notify buyers , and automate important decisions – such as changes to supplier mix – within defined parameters .”
56 January 2023