Digitalizing the Procurement Industry - Overview
Digitalization within the procurement industry is becoming a significant concern for many organizations. Currently, 53% of organizations use eProcurement solutions, and the number is rising. A recent Hackett Group study showed that over the next three-five years 85% of procurement organizations will be transformed due to digitalization from the back of the distribution. RPA, cloud-based applications, big data, innovative analytics and mobile computing will be significant factors in this transformation, not mentioning rapid growth and advancements in AI technologies and how attainable they're becoming.
It is suggested that by 2035 the human to machine ratio in procurement will be 1: 100.
The upcoming World Digital Procurement Summit will provide a platform for key business stakeholders and technical experts to explore the benefits of recent digital procurement technologies and best practices for how to reinvent your procurement organization.
It will also be a great opportunity to exchange knowledge on eProcurement, the smart utilization of Big Data Analytics, RPA, AI, Machine Learning and other technological advances in industry leadership.
The World Digital Procurement Summit has a line of speakers from major organizations such as the Airbus Group, Erste Group, Nokia, Vodafone, Maersk Group, UNIQA, Mondelz International, and the Institute for Supply Management and Electrolux.
The summit will be the investigator of unusual cases of digital procurement, who are the best providers for your industry and how to engage organizations with cutting edge technologies while exploring the latest digital procurement trends and their applications.
Key speakers will show attendees how to upgrade their procurement channels to a new level, build an ecosystem of extended partners, and create a digital strategy for procurement as well as drive innovation and business value using cognitive procurement technologies.
The World Digital Procurement Summit is a must for Senior Level Executives within the procurement, supply chain, logistics, AI technology, machine learning, digital strategy & transformation, strategic development and process improvement & excellence from any industry. For more information, please contact your free brochure today.
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We were fortunate to connect with our Platinum Sponsor, ESCRIBA, before our World Legal Operations Virtual Summit where they discussed no-/low-code strategy and its benefit to legal practitioners. Continue reading to learn more about their insights:Read more