The perfect procurement tech stack remains as elusive today as it has over the past two decades. ERPs and Procure-to-Pay suites promised an all-encompassing solution by converging all procurement disciplines – sourcing, contract management, supplier management, payments, etc. – on a single platform. Unfortunately, on the other side of these multi-million and multi-year implementations, enterprises find a partial solution that is unnecessarily complex and requires the procurement process to be force-fitted into the platform’s rigid, linear design.
The Future of Procurement: Why is Technology Lagging Behind?
Fortunately, something new and transformative is beginning to happen that offers a renewed hope. Over the past few years, a new generation of procurement platforms has emerged that offer deep, specialized solutions and yet easily integrate into the broader eco-system. They offer unprecedented speed, efficiency and flexibility leveraging cutting-edge technologies like AI, NLP and blockchain packaged in an easy-to-use, user-centric design.
This is driving the rise of a new procurement technology approach - specialized platforms wrapped around the P2P technology back-bone. Attend this webinar to explore how you can make your organization’s procurement technology eco-system more effective by incorporating this approach and taking a step towards the future.