Can Emerging Technologies Make Procurement More Agile? - Strategic Systems International

Long, manual processes still dominate procurement today. Oftentimes, monotonous and effortful labor-intensive transactional activities increase the size of the procurement time window – resulting in an inefficient service. In order to reinvent procurement and adapt to the evolving business needs of today and tomorrow, many companies have now digitized procurement in an attempt to expedite these cumbersome processes. But is speed enough in today's uncertain business climate? Machine Learning: Implementing machine learning technology could speed up procurement processes, assist procurement executives in pushing tasks forward, identifying errors and inconsistencies.