There’s something that has been revolutionizing our world without us even noticing it. A technological device that promises to create a new way to encrypt information and process data. This technology is called quantum computing. This isn’t something easy to understand at first, but once we know the science behind it, we’ll be able to see the benefits this could bring to our society.
Today, about 80% of large organizations are using artificial intelligence in their core business – compared to about 10% just five years ago. Companies that focus on AI are harnessing opportunities from vast data availability, machine learning and complementary technologies such as cloud, Internet of Things (IoT) and 3-D printing. And they are doing so with a focus on short-term benefits as well as long-term growth. According to Harvard Business Review, if you miss out, the opportunity cost could be as much as 41% of revenue by 2023.
A new survey by Gartner shows only 12% of organizations felt prepared for the impact of the coronavirus outbreak in March. And while 26% of those surveyed believe the coronavirus will have little or no impact on their business, just 2% of companies believe they can continue business as usual.
Just about every company monitors when its staff is absent, whether on a planned holiday or sick, and has a policy for how much leave its employees are entitled to. However, very few go any deeper than this. Absence is observed, but most companies do not see the implications of certain trends or ensure compliance across a global workforce, much less take any proactive steps to help their staff on absence-related issues.
It is no secret that poor supplier data is the single largest barrier facing successful eProcurement transformation. Organizations in all industries, regardless of size, are susceptible to massive budget overruns or outright project failure without a well-thought-out data acquisition strategy.
A recent article in Horses for Sources generated a lot of turmoil by stating that “RPA is dead.” So, we thought it would be interesting and helpful to look at and discuss the current reality of robotic process automation.
There has been a lot of buzz about “cognitive procurement,” the application of artificial intelligence (AI) to support buying goods and services to free up humans to handle valuable procurement functions that AI cannot manage.
The same advanced technologies that are making procurement smarter, more efficient and more data-driven, can be used to make outsourcing relationships leaner, more profitable and more advantageous.