Procurement and AI

May 22nd, 2018

How does artificial intelligence fit in with procurement?

 

Today’s blog is by Margaret Stewart, Manager of HR and Administration At SafeSourcing Inc.

Artificial Intelligence is a vastly growing field and with huge strides in its advancement, it has become more of a household tool. With technologies like Siri, Google Home, and Alexa, the desire for more AI has increased. AI advancements in business, especially procurement, could make processes easier and more streamlined with your goals.

Many businesses currently use their own in house teams on their procurement efforts. This can pull people away from other pressing tasks essential to business operations. Implementing a procurement team can alleviate those currently taking on that role and provide an expertise not otherwise seen within the company. This can also shorten the amount of time it takes to analyze data, evaluate risk, and implement new processes.

If artificial intelligence is added into your procurement efforts with your procurement partner, these processes could make even further advancements. Indices, risks, and spend management could be analyzed in a matter of moments with the right AI application and platform. This could help your business obtain the supplies, services, and data it needs to run as efficiently as possible without taking time away from other projects, ultimately helping your bottom line.

For more information on how SafeSourcing can help your procurement efforts, or on our Risk Free trial program, please contact a SafeSourcing Customer Service representative. We have an entire team ready to assist you today.

 

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