Digitalization, Industry Trends and Technology, Procurement Trends, e-Procurement
Web-based procurement or e-procurement was originally seen first and foremost as a better way to order catalog products than with older desktop-based procurement systems. However, with the rapid adoption of internet technology, e-procurement soon also came to be seen as a better way for buyers to connect to suppliers.
The result of this expanded role for procurement means that – over the past decade or so – the total spend under management of a company’s procurement platform has become an important metric for many companies. It has provided a good indication as to how efficient a company is, outside of traditional measures of profit or loss.
With procurement in such sharp focus, ease of use and intuitive UIs have been the main drivers for the development of e-procurement solutions over the past years. e-procurement service providers have implemented agile development and release processes into their platforms in order to keep up with the ever-changing demands relative to usability and providing a consumer-like experience. Furthermore, it provides agility and supports the continuous improvement of the solution, while simultaneously keeping platforms ahead of the game in terms of the security needs of a B2B environment.
The arrival of robotics
Recently, however, there has been another seismic shift in procurement. With the arrival of machine learning technologies and robotic process automation – coupled with constant pressures on costs and the workforce size – e-procurement customers are increasingly asking for support in these new technology areas. Ease of use and security are becoming mere hygiene factors as the focus now shifts to automating procurements processes.
To be sure, e-procurement is an exciting and innovative space. Read the linked eBook I just introduced here and learn what a global technology leader is doing today to take procurement to the next level in their organization.
Topics covered in this chapter include:
- user experience/expectations in today’s procurement
- machine learning and AI supporting automation
- a hands-free future
- a case study - global tech giant
This is the last of four chapters in OpusCapita’s latest procurement eBook, where we look at modern (and smarter) procurement through customer case studies from companies operating in a variety of industries.
Rowan Lemley has over 10 years of experience in the purchase-to-pay arena. During that time, he has lead product marketing for AP Automation, B2B networks, and most recently E-procurement and Product Information Management solutions.
Read more blog posts about e-Procurement
The Inevitable Challenges with Procurement of Services
16 - 10 - 2018
Procurement of services continues to be a challenge for the procurement departments. Read this blog to find out why and learn how to overcome the challenge.
CFO, Why You Too Should Care About Spend Under Management
10 - 10 - 2018
Bringing more spend under management is a priority for the Chief Procurement Officers. This blog discusses why the metric matters for the Chief Financial Officers, too.
3 Trends That Are Driving Procurement Transformation
28 - 08 - 2018
The 2018 ProcureCon Benchmarking Report gives insight into the collective mind of the Chief Procurement Officer. This blog highlights 3 trends we think you should be aware of.
Other content you might be interested in:
Leading the way with procurement transformation
Procurement started out as being about guided buying but today, leading edge companies are transforming procurement with robotics and artificial intelligence.
Smarter e-procurement software: 4 procurement case studies
OpusCapita’s latest ebook comprises 4 procurement case studies that look at some of the most common challenges and solutions in the world of modern procurement.