Transforming Procurement Systems with Technology

Technology was originally an enabler for streamlining procurement processes. Now technology has become a transformational element that is driving procurement into a digital future.
By Gerald Donald

Procurement and Human Resources have a lot in common from a technology perspective. Both functions can automate many of the transactional activities, freeing up staff time to concentrate on important things. For procurement, the important things include being able to make informed decisions based on market data and supplier intelligence, utilizing smaller and more agile suppliers, improving supply chain activity tracking, incorporating sustainability into purchasing decisions, and improving agility and innovation, just to mention a few.

Technology is the driver of change and impacts all the factors mentioned, from data-based decision-making to providing agile services to department heads. In 2018, more procurement functions are moving toward high–te...

Read full article or Subscribe