Why Your Business Needs Next-Gen AI-Powered Procurement Dashboards
January 10, 2025 | Procurement Strategy
Procurement must have access to spend data at all times. Without real-time visibility into spend data, procurement organizations face challenges that can quickly spiral out of control.
Data becomes fragmented, scattered across systems and spreadsheets, making it nearly impossible to track spending accurately or spot cost-saving opportunities. Without clear visibility, maverick and tail spending creeps in, and opportunities for supplier consolidation or negotiation slip by unnoticed.
Meet Your New Procurement Team: How AI Agents Are Changing the Game
January 09, 2025 | Procurement Software
Imagine having a tireless, efficient procurement team member who consistently learns from mistakes and can manage complex operations in real time.
Autonomous AI agents—LLM-driven entities that can handle tasks and make decisions—are already transforming how businesses manage procurement and supply chains.
By taking on repetitive work and adapting to complexity, they’re poised to free up human employees to focus on strategic responsibilities.
Intelligent CLM: Turning Contracts Into a Strategic Function With AI
January 09, 2025 | Contract Management
Contract management is often considered an administrative function. However, contracts are much more than mere documents — they affect revenues and business relationships.
Procurement leaders need to turn contract lifecycle management (CLM) into a strategic function to boost the bottom line. They have an opportunity to address the common challenges of contract management and streamline operations, enhance efficiency and optimize processes across the enterprise with today’s hottest technology: artificial intelligence (AI).
Don’t Make These Mistakes When Adopting AI in Your Supply Chain
January 08, 2025 | Supply Chain Software
AI’s potential to benefit procurement and supply chain management is immense. It can streamline processes, enhance decision-making and uncover efficiencies you didn’t even know were possible.
But success isn’t automatic. Many enterprises stumble into common pitfalls along their AI journey that they could have avoided with better planning.
Let’s unpack three of these challenges and the strategies to sidestep them, so you can make your AI investment pay off.
Still Relying on 2-Way and 3-Way Matching? Get AI for Multi-Way Matching in Accounts Payable
January 07, 2025 | Accounts Payable
Are you still dealing manually with purchase order and invoice mismatches? Here’s how you can eliminate inefficiencies and expedite invoice processing.
As you know, accuracy and efficiency in accounts payable (AP) are critical to ensuring smooth vendor relationships and timely payments. But how do you make sure that all the details in your transactions are aligned correctly?
In the past, matching purchase orders, invoices, and goods receipts was the answer—an essential practice to prevent discrepancies.
Source-to-Contract vs. Procure-to-Pay: Why AI-powered Integration Delivers Greater Value
January 06, 2025 | Procurement Software
You can’t overlook the transformational potential of a truly integrated source-to-contract (S2C) and procure-to-pay (P2P) systems.
It’s not just about linking workflows—it’s about enabling procurement to act as a driver of enterprise-wide efficiency, innovation, and profitability.
By bridging the gap between strategic sourcing and operational purchasing, organizations can unlock hidden opportunities that go far beyond cost savings.
How AI Supercharges Your Category Management Dashboard
January 03, 2025 | Procurement Software
Category management dashboards, when integrated with AI and advanced technologies, enable organizations to mitigate risks, streamlining operations, and fostering supplier innovation. Explore its key features and benefits in this blog.
How AI-Powered Industrial Procurement Services Bring Efficiency and Savings
December 31, 2024 | Procurement Software
Industrial procurement has become a complex balancing act, requiring manufacturers to manage costs, ensure quality and adapt to rapid changes.
Finding reliable suppliers is critical, as poor choices can disrupt production.
Managing global sourcing and logistics adds complexity, with customs, trade rules, and shipping delays posing constant challenges. At the same time, cost management requires striking a balance between competitive pricing and maintaining quality amid market fluctuations.
5 Ways AI Can Improve Logistics Operations
November 25, 2024 | Logistics
Many logistics companies now leverage technology to streamline operations. They use it to get real-time visibility, automate tasks, design optimal routes and reduce wastage.
However, the recent advancements in artificial intelligence promise to completely transform logistics operations.
Sourcing Automation in the Age of Gen AI
November 12, 2024 | Sourcing Technology
Traditional sourcing methods are often slow, labor-intensive, and prone to errors. Automation in sourcing, powered by generative AI, is transforming the way procurement professionals work.
Automation in sourcing involves using AI to handle repetitive tasks such as supplier selection, contract management, and data analysis.
