Looking for a way to ease yourself into 2017? Then check out our 10 must-read articles to help kick-start your brain. The bells are barely over, and the new year party is still fresh in your mind. But it's time to get back to work, and we want to help you start 2017 right. We've selected some top articles from 2016 to ease you in, and sharpen your brain on your first day back.
Accenture is a company passionate about digital procurement. In a recent report, the global management consultancy made no bones about the disappointment it feels at what it perceives as an almost industry-wide failure to embrace the technologies available for digitising procurement. It states that "procurement organisation has been largely left behind in the digital revolution. The report looks at how bots can be used to automate and streamline manual or routine procurement tasks, how making use of available expertise such as speaking to buying agents and advisors will help people make the best purchasing decisions and deliver optimal value to the business. Accenture specialises in helping procurement companies to digitise their business operations, and the report shows confidence that the familiar frustrations surrounding procurement today will give way to a simple and intuitive buying experience for users to enthusiastically embrace.
In a world awash with a seemingly never-ending list of technology buzzwords such as automation, machine learning and Artificial Intelligence (AI) to name a few, AI is one such technology that is moving away from simple hype and stepping closer to reality in procurement. This featured in the August issue of CPOstrategy – read now! Procurement, by its very nature, is tasked with handling huge quantities of spend and with spend comes spend data. Often described by leading CPOs as a repetitive task, understanding and sorting that spend data is now being achieved through the implementation of AI. Through the use of AI, procurement teams can remove human error, increase efficiency and realise greater value from spend data.
"How do we bring the'Amazon effect' into our organization?" Amazon is changing how consumers view the world; procurement professionals cannot afford to ignore consumers' perceptions of how simple business-to-business (B2B) interactions should now be. In our Procurement As-a-Service Blueprint, we use the term'Amazon-effect' to describe a move to simple, seamless, digital buying experiences, with procurement becoming more user-focused, driven by more technology and changed user expectations. 'Amazonification' is one of the five driving forces in the transformation of procurement: 'Amazonification' driven by the "Triple-A Trifecta" of automation, artificial intelligence (AI) and analytics Cloud-based platforms Partnership ecosystems Sourcing and category management talent Blockchain or distributed ledger technologies (DLT) 'Amazonification' driven by the "Triple-A Trifecta" of automation, artificial intelligence (AI) and analytics Amazon has created a de-facto standard for purchasing experiences: simple, easy and accommodating to the user. Many people wonder why buying at work should be so different from buying as a consumer.
Early in 2017, when IBM announced a partnership with SAP Ariba to build the future of procurement, it was an exciting moment for all involved. In addition to marking the latest chapter in a partnership stretching back more than 40 years, it also represented a new opportunity to drive tremendous value for our clients. By working with a strong partner that has a wide portfolio of procurement solutions, we aimed to redefine what's possible in procurement. And help our customers accomplish more than they possibly could have before. At IBM, we believe that procurement should play a leading role in shaping overall corporate strategy.