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Advanced analytics tools are being integrated into procurement operations, enabling public and private organisations to rethink procurement processes, supplier relationships and cost optimisation. Analytics can help organisations to identify opportunities for cost savings, improved contract compliance and better procurementstrategies.
Procurement can and should be a significant value generator for the larger organization. There are, in fact different phases of procurement value creation that tie into the Source-to-Pay process: . Click here to talk to Ivalua about your Procurementstrategy. Both are essential to the success of every business.
An Ardent 2021 survey of more than 350 CPOs and other business leaders found that there’s a strong push by procurementteams to adopt suites instead of a collection of standalone or one-off solutions. 5 Procurement Increasing Its Focus on and Use of Data. More on that here.
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