To meet their highly strategic needs, companies digitize the management of their Purchasing departments from the following 3 axes.
Transaction automation: procure to pay and sourcing
The digitalization of transactional processes has a very positive impact on the effectiveness of transactions because they allow shortening deadlines, encouraging greater collaboration of suppliers, improving spending controls and respect for the deadlines of purchase contracts.
This is usually the first stage before developing more sophisticated digital levers.
Automation of repetitive tasks
If we analyze the whole purchasing cycle from the preparation of the strategy to the final payment, we can see that about 70% of the tasks could be automated.
RPA (Robotic Process Automation) solutions are increasingly used in Purchasing Departments. They reduce the time spent on low value-added tasks (such as creating a vendor card, processing an order, preparing a report, etc.) and reducing errors.
The robotization of purchasing processes is easy to implement, has low costs and represents an incredible lever to improve the efficiency and productivity of the Purchasing Department.
Artificial intelligence
Artificial intelligence accompanies buyers in their decision-making by providing them with ready-to-use tests.
It also allows you to intelligently and intelligently automate a series of increasingly complex tasks.
For example, predictive data analysis allows you to identify patterns and build predictions based on a number of important factors. These tools help Purchasing Departments anticipate risks, opportunities, especially in relation to price developments, sourcing, consumption and reducing costs.
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