OCTOBER 2019CIOAPPLICATIONSEUROPE.COM6EditorialThe Evolution of Procurement into a Strategic ToolTechnological advancements are redefining the way procurement happens across organizations. From self-contained tools and applications to comprehensive software platforms, procurement has evolved into a strategic business tool that automates and streamlines expense management along with driving innovation and value into organizations. With the adoption of automated procurement solutions, organizations can gain better insights into their supplier spend data, which can be converted into meaningful and predictive data that helps in making informed decisions. As digital technologies such as artificial intelligence, analytics, cloud and automation make their way into procurement solutions, they are enabling organizations to operate at a faster pace with higher efficiency. Procurement functions are fast becoming an imperative part of an organization's value stream where they are expected to strongly influence and contribute to an enterprise's business strategy, growth and competition. By embracing of intelligent technologies, procurement is reimagining the way supply chains functions and will be instrumental in improving the spending visibility in organizations while assisting potential buyers and enriching the way content is managed. Major players across industries are moving toward the adoption of a full service end-to-end procurement suite that will help them in enhancing their client and supplier collaboration. Procurement technology companies are innovating with AI and other cognitive technologies to deliver AI-powered solutions that optimize the capabilities of procurement systems. Businesses are leveraging Procure-to-Pay solutions to reduce the burden of unnecessary expenses and utilizing large-scale automation for iterative tasks to increase their returns on technology investments.However, with all these changes happening around, for enterprises to make the most out of their procurement technology investments, they need to harness the power of a competent team who has great knowledge and understanding of the complexities involved in procurement. We hope our magazine helps you in finding the right technology partner to augment your procurement performance.Let us know your thoughts.Joe PhillipManaging Editoreditor@cioapplicationseurope.comJoe PhillipCopyright © 2019 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Editorial StaffBen Jackson Ezra BenjaminJames SmithCalvin JamesSenior WritersLeah JaneClara MathewRoyce D'SouzaSalesJennifer Stephenjennifer@cioapplicationseurope.com 510.996.5125Graphics & ArtMatt RyderJaxon JaseManaging EditorJoe Phillip*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffContact Us:Phone: 510.996.5125Email:sales@cioapplicationseurope.comeditor@cioapplicationseurope.commarketing@cioapplicationseurope.comOCTOBER - 09, 2019, Vol 03 - Issue 33 (ISSN 2644-2531)Published by ValleyMedia, Inc.To subscribe to CIO Applications EuropeVisit www.cioapplicationseurope.com
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