Still Relying on 2-Way and 3-Way Matching? Get AI for Multi-Way Matching in Accounts Payable
January 07, 2025 | Accounts Payable read
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 read
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 read
How AI-Powered Industrial Procurement Services Bring Efficiency and Savings
December 31, 2024 | Procurement Software read
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 read
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.
Trending in CPG: How Generative AI is Redefining Procurement
November 16, 2024 | Procurement Software read
CPG and retail procurement face a constant challenge to boost productivity and drive growth in a difficult marketplace. The fact they need to do this while also preserving margins, managing supply chain disruptions and balancing changing consumer expectations makes achieving those goals like hitting moving targets.
So, what trends should CPG and retail procurement teams keep on the radar to stay on top of industry trends to remain competitive?
Still Exploring Use Cases? Here’s Where AI Can Make Real Impact in Procurement & Supply Chain
November 16, 2024 | Technology read
Do businesses understand how they can make the best use of artificial intelligence?
No doubt, almost all of them recognize the transformative potential of AI.
But while some of them have already adopted this technology or plan to adopt it soon, others are still exploring its use cases.
And this is also the case with individual business functions such as procurement and supply chain.
The Growing Role of AI in Accelerating Clean Energy Transition
November 16, 2024 | Energy & Utilities read
As the world transitions from coal, natural gas and oil to renewable and clean energy sources, artificial intelligence is playing a crucial role in optimizing every aspect of the energy ecosystem — from generation to distribution to consumption.
The major uses of AI in energy transition include predictive analytics and forecasting, smart grid management, renewable energy integration and efficient energy demand response.
How Procurement Can Embed AI in Operations With Low-Code Platforms
November 16, 2024 | Procurement Software read
More and more executives are convinced that artificial intelligence is rapidly becoming critical to business success. Most (61%) enterprises are rethinking how to use data and analytics in the wake of AI, according to a Gartner study.
For procurement, the challenge is how to leverage AI to quickly turn insights and intelligence into action. Can procurement play a key role in embedding AI in business operations?
Why Gen AI Poised to Change the Procurement Process
November 16, 2024 | Procurement Software read
In the rapidly evolving world of supply chain and procurement, generative AI is already a game-changer, and more change is ahead.
At GEP INNOVATE 2024, industry leaders gathered to discuss the transformative potential of AI and generative AI, shedding light on how these technologies are transforming how enterprises operate.