Procurement industry is undergoing a seismic shift with the advent of cutting-edge technologies such as artificial intelligence (AI), cloud, and Internet of Things (IoT). AI, in particular, is helping the industry redefine the procurement function and supply chain alike and necessitating the move from siloed tools and applications to unified platforms that can be accessed by multiple stakeholders. In contrast with traditional procurement technology that are complex andreactive, the modern AI-powered procurement technology provides supply chain managers with automated forecasts, recommendations, aiding them to formulate competitive strategies. Further, marrying AI-enabled procurement tools and technology with cloud and IoT will equip procurement teams with real-time and accurate information and grant them access to budget reports and supplier information.
With growing adoption of mobility and cloud technologies, today’s procurement workforce looks for a more intuitive app-like feature in procurement systems that give them enhanced user experience. While next-generation procurement mobile applications enable functionalities like supplier catalogs, spend analysis, supplier networks and contract management, allowing intuitive e-commerce-style expertise, they provide procurement professionals with real-time demand and supply visibility and supplier performance ratings, among other benefits.
To assist CIOs in identifying the right procurement solution for their business, CIO Application presents “10 Most Promising Procurement Solution Providers.” This edition features the best solution providers offering inventive technologies to improve procurement efficiency. A distinguished panel comprising CEOs, CIOs, VCs, analysts, and the CIO Application’s editorial board together reviewed the top companies in the procurement solutions domain and shortlisted the ones that are at the forefront of tackling industry challenges.
We present to you “Top 10 Procurement Solution Providers - 2019.”