July 28, 2021

3 changing trends in purchasing technology

Purchasing technology has evolved. Simple spreadsheets and online auction tools, a decade ago on end-to-end platforms – the supply software is now more powerful, capable and efficient. However, companies expect their procurement teams to be more strategic, supply leaders would require software that will not only automate and streamline all procurement and procurement processes, but also allow for a catch. effective decision.

Here are three changing gaming trends in purchasing technology that lead to the development of next-generation supply software.

1) Cloud Computing

Businesses all over the world adopt cloud-based tools and software for the different benefits they offer on conventional software. Cloud supply technology not only allows businesses to save on infrastructure costs (installation, integration, operation and maintenance), but also offers flexibility to scale depending on the needs of the company. Cloud supply software also provides easy and better collaboration with suppliers and other stakeholders, improving efficiency and reduction of cycle times.

2) Native mobile

With more and more mobile work and lifestyles, employees require technology and tools that allow them to work anywhere, at any time and on any device. In fact, a Citrix survey indicates that in 2020, nearly 90% of all major global organizations will offer mobile work options enabled on applications. A mobile-native supply software, such as SMART by GPP, allows the purchases of the leaders to work on the move, offering all the information necessary for effective decision-making. In addition to providing real-time access to expenditures, savings, contracts and accounting accounts, mobile-activated procurement software allows the benefits of providing supply, creating and issuing RFPs. Managing educates, creating POS, introducing payments and managing the entire source. -Pay the cycle – at any time, anywhere on any device.

3) Big Data Analytics

As purchasing transforms a transactional facilitator to a strategic entity and a trusted business advisor, Business Analytics will play a crucial role. Big Data Analytics would allow purchases to obtain predictive information, such as demand forecasting, commodity price movements, supplier performance, among others. Supply software, with integrated data analysis tools and artificial intelligence capabilities that enable procuring professionals to proactively identify savings opportunities and minimize risks, providing information crucial and fast information.

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