The new age of digital is fundamentally reinventing business processes, from operations to customer engagement and more. A key driver behind this shift is the Internet of Things and Industry 4.0 creating reams of data that allow decision makers to get the information they need, anytime and anywhere.
Accompanying this mass of data, the evolution of advanced analytics is accelerating decision making without any adverse effect on accuracy or performance quality. At the same time, business networks are creating highly efficient levels of collaboration that enhance productivity and generate value from data, regardless of where employees are located.
Procurement professionals have long been the unsung heroes of helping businesses adapt to these changes, tasked with reducing costs and ensuring savings are realised. But the most innovative among them are utilising new technologies like self-service portals, mobile apps and cloud or social collaboration tools to streamline processes, manage spend and simplify traditionally complex purchasing experiences. The end result is empowering buyers to comply with internal policies and best practices, while keeping costs down and raising the strategic value of every purchase.
Procurement organisations are more than comfortable with delivering buying experiences and supply chains that are fast, simple, sustainable, and low risk. But the key target here is to add value to the delivery of services and goods to customers. This is the future of procurement.SAP Ariba: Read the full article here