He believes the rise of AI and advanced analytics in procurement will be transformative , but cautions that successful implementation requires careful integration with underlying data and processes .
He notes : “ To provide a great AI service , you need the right set of data which is consistent . It has to be prepared and you need to have an engine or an AI agent that has learned what kind of questions to ask and what kind of answers are expected .”
Synertrade is focused on providing a platform that seamlessly integrates data management , analytics and workflow automation to empower procurement teams . The firm looks set to capitalise on the evolving needs of the procurement market by delivering a renewed , userfriendly software platform backed by robust data management capabilities .
“We ’ re very excited to bring this new product to the market ”
OLIVIER BERROUIGUET CEO , SYNERTRADE
AI ’ s role in shaping procurement Olivier likens the ongoing AI surge to the web revolution of the past .
While AI isn ’ t a novel concept for industry insiders , its recent acceleration and mainstream breakthrough — epitomised by platforms like ChatGPT — is unprecedented .
AI encompasses a diverse array of technologies , all engineered with a common goal : empowering businesses to streamline operations , boost efficiency and enhance accuracy . This technological leap is not just an incremental improvement ; it ’ s a transformative force reshaping how companies approach tasks and decisionmaking processes .
But Synertrade ’ s leader believes the biggest change for CPOs concerns what is expected of them : “ The expectations are going to rise big time . As a CEO , I expect that , in two months , we are going to be able to have a much more accurate understanding of the way the software works and that is through the use of AI for developing the code .
“ AI will help CPOs tremendously , but only if the maturity is there . You need to understand how processes should be optimised , think about processes in new ways using AI , understand the minimum data required to execute tasks and achieve KPIs and have a basic grasp of AI itself .
“ It ’ s not going to be another vertical , best-of-breed AI solution you simply insert into your team that magically provides all the answers . It needs to be organised and integrated properly .
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