Organizations of all scales are constantly seeking ways to gain a competitive edge. Spend analytics platforms have revolutionized the way procurement and spending are being monitored. According to Mordor Intelligence, the spend analytics market is expected to grow at a CAGR of 17.9% from 2022 to 2027. Upgrading to automated analytics capabilities allows organizations to ...

Introduction Sourcing and procurement operations significantly drive a company’s success. According to Kearney, procurement’s cost share in revenue is 30% for service companies and 50% for manufacturing organizations. These vital functions directly impact an organization’s cost efficiency, profitability, and overall sustainability. As the global business landscape evolves and becomes increasingly competitive, organizations must address supply ...

Big Data, Machine Learning and AI have led to great advancements and improvements in various business functionalities. One key sector among them is procurement. The large amount of data generated by this business function can be successfully mined to provide keen insights, trend data and more for successful procurement strategy implementation. For instance, a business ...