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Revolutionizing Procurement: The Power of AI in Vendor Management Systems

Smart Data Collective

Vendor Management Systems (VMS) have become an indispensable tool for streamlining procurement and fostering strong vendor relationships. As AI reshapes traditional operational landscapes, the procurement sector stands on the cusp of a new era. Conclusion In conclusion, AI’s integration into VMS is revolutionizing procurement.

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Companies Need to Create Data-Centric Procurement Processes

Smart Data Collective

Companies are using big data in countless aspects of their business models, including the procurement processes. However, procurement departments have increasingly lagged behind in companies’ quests to digitize their workflow. They are expected to spend $9.3 billion on supply chain data analytics in 2026.

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Become an Expert in Digital Supply Chain Management with the Purdue University PG Program | Simplilearn webinar starts 29-03-2023 16:30

Simplilearn

Digital supply chain management speeds up procurement, increases inventory transparency, powers advanced distribution networks, and enables analytics for controlling costs and risks. Join us to find out how the Purdue Post Graduate Program in Digital Supply Chain Management helps take your career to new heights. Read More.

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Mitigate Risks and Protect Sensitive Procurement Data

The Data Administration Newsletter

Procurement is an essential function within any organization, involving the acquisition of goods and services necessary for business operations. However, with the rise of digitalization and technology, procurement processes have become increasingly vulnerable to cyber threats.

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Program Preview: Post Graduate Program in Digital Supply Chain Management | Simplilearn webinar starts 26-05-2022 15:30

Simplilearn

A common thread through modern supply chain management is digital technology, which speeds up procurement, Read More.

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90% Of Saas Buyers Overpay for AI-Driven Services

Smart Data Collective

From human resources to customer relations to in-house comms, digital tools take the pressure off of members of staff by automating vital business functions and streamlining collaboration efforts. However, the main challenge that company IT, finance and procurement teams face when purchasing SaaS is the lack of pricing transparency.

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2023 SAP Innovation Award Winners: Swiss Federal Railways, Mastering a Data-Driven Culture with SAP BTP

Timo Elliott

Mastering Data Hygiene Reliable data is at the core of all digital transformation. As a result, they’ve been able to maintain long-term data quality, benefiting departments such as procurement, sales, and finance by improving process efficiency and significantly reducing data quality-related issues.