Technology has advanced significantly since the days when procurement leaders were only managing RFIs and RFPs among their “little black book” of trusted suppliers. Today, big data and artificial intelligence now offer an expansive view of an entire supplier market and unprecedented access to vast wells of verified data. This advancement has opened the door to a new approach that can completely transform the strength of procurement decisions and enable procurement teams to impact a company’s bottom line in new and sometimes unexpected ways.
Business process outsourcing saves companies significant time and money, enabling them to focus on their core business activities. And nowhere is this more impactful than in the document processing arena. Billions of pages of documents move between companies, their partners/suppliers and customers each year.
Historically, for organizations looking to improve their top or bottom line and gain competitive advantage, leveraging technology has always been considered. As we enter the next industrial revolution, Artificial Intelligence (AI) in our future is no exception. The interest and benefits of AI increase significantly across all industries and functions. The rewards continue to be meaningful for any organization looking to gain productivity and competitive advantage using AI.